Bank of England and Financial Services Bill: Consideration of Commons Amendments

03 May 2016

The Bank of England and Financial Services Bill returns to the House of Lords on Tuesday 3 May for consideration of Commons amendments in 'ping pong'.

Lords members are expected to discuss subjects including illegal money lending, and money laundering.

Lords third reading: 19 January

Members discussed rules around selling annuities, and the terms used to describe of the Bank of England.

The bill now goes to the Commons to be considered.

Lords report stage day two: Tuesday 15 December

Members of the Lords discussed governance and accountability of the Bank of England. They also asked where the burden of responsibility for failure to prevent regulatory breaches should lie.

Third reading, a final chance to amend the bill, is yet to be scheduled.

Lords committee stage day two: Wednesday 11 November

Members of the Lords discussed subjects including the provision of a Green Investment Bank, debt management services and pensions guidance.

Report stage, further line by line scrutiny, is yet to be scheduled. 

Lords committee stage day one: Monday 9 November 

Members of the Lords began by discussing the definition and powers of the Bank of England, whether the number of non-executive directors of the Bank of England should be reduced, and who should be responsible for any alteration to its Court of Directors.

Peers also discussed proposed audit arrangements for the Bank of England, and what constraints should be placed on these.

Day two of committee stage is scheduled for 11 November. 

Lords second reading: 26 October 2015

Bank of England and Financial Services Bill summary

A bill affecting the Bank of England, covering issues such as:

  • regulation of financial services
  • issue of banknotes.

Further information

Image: iStockphoto

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