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Departmental Bank Services

Volume 489: debated on Friday 13 March 2009

To ask the Secretary of State for Justice with which banks his Department has or has had contracts for the provision of financial advice, for the financial year 2008-09. (262763)

For the financial year 2008-09, the Ministry of Justice (MOJ) have held contracts with banks for the provision of banking operational services only, and not for the provision of financial advice.

All MOJ Banking transactions are completed in line with the MOJ Banking and Cash Handling policies that have been drawn up in accordance with HM Treasury guidelines.

Under section 18 of the Exchequer and Audit Departments Act 1866, the Treasury determines the banks at which public monies can be kept. Public monies are held centrally by the Exchequer to the maximum possible extent consistent with value for money principles.