PART 4

Collaboration between Treasury and Bank of England, FCA or PRA

Duty of Treasury, Bank and PRA to co-ordinate discharge of functions
64
1
The Treasury (on the one hand) and the Bank of England and the PRA (on the other) must arrange to co-ordinate the discharge of their respective functions so far as they—
a
relate to the stability of the UK financial system, and
b
affect the public interest.
2
In complying with subsection (1), the Treasury, the Bank and the PRA must have regard in particular to the importance of co-ordination in circumstances where the Bank has given, or is considering the giving of, a public funds notification.