HMT issues wholesale cash oversight orders

HM Treasury (HMT) has published a series of wholesale cash oversights orders (dated 12 June) issued for the purpose of the Bank of England's (BoE) wholesale cash oversight regime. The orders confirm the recognition of several firms under Part 5A of the Banking Act 2009 for their roles in the wholesale cash distribution system. Under the Banking Act 2009, the BoE is accountable for overseeing risks to the effectiveness, resilience and sustainability of wholesale cash distribution across the UK, or any part thereof. The firms recognised include Vaultex UK Limited, G4S Cash Centres (UK) Limited, Post Office Limited, National Westminster Bank Public Limited Company, The Royal Bank of Scotland Public Limited Company, Lloyds Bank PLC, Bank of Scotland PLC, Barclays Bank UK PLC, Barclays Bank PLC, HSBC UK Bank PLC, HSBC Bank PLC and Santander UK PLC.

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