The Oversight Committee of Court was established by the 2012 Financial Services Act. Its function is to keep under review the Bank’s performance, as part of that it may commission reviews, and keep track of the delivery of any recommendations.
Anticipating the Committees role, Court commissioned three reviews in May 2012, and these were published in October 2012. They were:
The provision of Emergency Liquidity Assistance in 2008/9
Review by Ian Plenderleith
The Oversight Committee reviewed progress in implementing the recommendations of these reviews in November 2013. The majority have now been fully implemented.
An additional review, into the Bank’s record-keeping system, was commissioned in July 2012 and reported in December 2013.