Letter from the Chancellor of the Exchequer to the Governor of
the Bank of England providing recommendations for the Financial
Market Infrastructure Committee.
From:
HM Treasury
Published 15 July 2025
Last updated 18 July 2025 — See all updates
Documents
Letter from Chancellor of the
Exchequer to Governor of the Bank of England
PDF, 80.2
KB, 5 pages
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Letter from Governor of the Bank
of England to Chancellor of the Exchequer
PDF, 267
KB, 10 pages
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Details
The Financial Market Infrastructure Committee (FMIC) has
responsibility within the Bank for exercising the Bank's FMI
functions as set out in the Bank of England Act 1998.
The BoE Act 1998 requires the Treasury, at least once in each
Parliament, to make recommendations to the FMIC about aspects of
the government's economic policy to which the Bank should have
regard when considering how to advance its objectives and the
application of its regulatory principles. This letter provides
such recommendations and outlines the important role that the
Bank plays in protecting financial stability, facilitating
innovation, and supporting the government's growth
mission.
The FMIC is required to respond to the recommendations from the
Treasury within a year of receiving the recommendations, and each
subsequent year after that. These responses set out action that
the FMIC has taken, or intends to take, in accordance with the
recommendations, or why it has not acted.
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