‘(1) The Bank of England must, at least once in every year, prepare an assessment of developments in respect of risk-weighting in relation to banks and building societies.

(2) The Bank must send the assessment to the Treasury.

(3) The Treasury must lay the assessment before Parliament.

(4) The Bank of England must publish the assessment in such manner as they think fit.

(5) In this section “risk weighting” means the process by which the assets of a bank or building society are accorded a risk weight.

(6) In this section—

“bank” means a UK institution which has permission under Part 4A of FSMA 2000 to carry on the regulated activity of accepting deposits, other than any description of institution excluded by virtue of subsection (2)(b) of section 142A of that Act from being a ring-fenced body as defined in subsection (1) of that section (or a building society);

“building society” has the same meaning as in the Building Societies Act 1986;

“risk weight” means a percentage that is derived from the risk to the value of an asset.’.—(Chris Leslie.)