Member

The Minister has already referred to the letters that the Treasury orchestrated from the FCA and the PRA, which set out how they see parliamentary accountability. They do not say very much more than that the regulators take parliamentary accountability seriously. I note that there has been no equivalent letter from the Bank of England about its non-PRA regulatory activities. Many of the regulators’ suggestions do not seem to address the core concerns of wanting to increase the effectiveness of real-time scrutiny of what the regulators are doing.