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Clause 189

Part of Banking Bill – in a Public Bill Committee at 5:45 pm on 28th October 2008.

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Photo of David Gauke David Gauke Shadow Minister (Treasury) 5:45 pm, 28th October 2008

Given that the Bank of England may require operators of inter-bank payment systems to pay fees, is it the intention that supervision of the payment  systems will be essentially self-financing? Will the fees more or less equate with the costs incurred by the Bank, and will the Minister state the Bank’s likely costs of supervising and overseeing the systems, notwithstanding any fees that it may levy?