Exchange of letters between the Governor and Chancellor on the Bank’s financial framework

Exchange of letters between the Governor and the Chancellor
Published on 21 June 2018

The Treasury and Bank of England have agreed a new financial framework for the Bank which provides it with the resources required to carry out the wider monetary and financial stability responsibilities it has been given by Parliament since the last funding agreement five years ago. This is set out in a memorandum of understanding on the financial relationship between HM Treasury and the Bank.

PDFLetter from the Governor

PDFLetter from the Chancellor

PDFFinancial relationship between HM Treasury and the Bank of England: memorandum of understanding

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