Notice to recognised banks and licensed deposit-takers issued by the Bank's Banking Supervision Division on 25 March 1986.
In a discussion paper published in May 1985, the Bank of England ('the Bank') described its proposed approach to the consolidated supervision of institutions authorised under the Banking Act 1979 (banks and licensed deposit-takers, which are hereafter referred to as 'banks'). Following consultations with the banking community and other interested parties, the Bank is now issuing, this statement of its policy. The policy has been agreed with HM Treasury and its implementation will fulfil, inter alia, the United Kingdom's obligation to comply with the European Communities' Consolidated Supervision Directive. (The supervision of financial conglomerates raises broader issues which are not addressed in this paper; the principles to be followed were set out in the answer to a Parliamentary Question on 21 January.)
Consolidated supervision of institutions authorised under the Banking Act 1979