asked the Chancellor of the Exchequer how consultation is to be conducted on the report of the committee set up to consider the system of banking supervision, Cmnd. 9550.
The Bank of England is publishing today two consultative papers, one entitled "Banking Act 1979; Proposals for Legislative Change" and the other "Large Exposures Undertaken by Institutions Authorised Under the Banking Act 1979." Copies of these papers have been sent to all institutions authorised under the Banking Act 1979, and to the main banking associations. The Bank of England has also invited representations from any interested individuals, institutions or representative bodies.Copies of the two papers have been placed in the Library of the House. A third paper, on the proposed new arrangements between the Bank of England supervisors and the auditors of authorised institutions will be published by the bank shortly, and also placed in the Library.