Bank of England response to the final report by the Parliamentary Commission on Banking Standards

The Parliamentary Commission on Banking Standards (PCBS) published its final report in June 2013, making recommendations to the Government, to the regulators and above all to the industry itself, aimed at remedying the shortcomings in standards that it had identified.

Published on 07 October 2013

A number of recommendations were addressed to the Bank (including the Financial Policy Committee (FPC) and the Prudential Regulation Authority (PRA)) and this document sets out our initial response. It also meets a request from the Government to provide an outline of how the Bank would implement the proposed new framework for individuals. Initial FPC views were noted in the Record of its September meeting and the Bank will ensure it has the opportunity to consider work planned.

Press release