HM Treasury written question – answered at on 11 January 2018.
Daniel Zeichner
Labour, Cambridge
To ask Mr Chancellor of the exchequer, which regulator will be responsible for monitoring the performance of the standardised Open Banking Application Programme Interfaces; and how that regulator plans to undertake that monitoring.
John Glen
Minister of State (Treasury) (City), The Economic Secretary to the Treasury
The standardised Open Banking Application Programme Interfaces (APIs) are being introduced as a result of the Competition and Market Authority’s (CMA) Retail Banking Market Investigation Order 2017.
The CMA is responsible for monitoring and enforcing compliance with this Order, including the performance of the APIs. The Open Banking Implementation Entity will assist the CMA in delivering this function.
Yes1 person thinks so
No0 people think not
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The chancellor of the exchequer is the government's chief financial minister and as such is responsible for raising government revenue through taxation or borrowing and for controlling overall government spending.
The chancellor's plans for the economy are delivered to the House of Commons every year in the Budget speech.
The chancellor is the most senior figure at the Treasury, even though the prime minister holds an additional title of 'First Lord of the Treasury'. He normally resides at Number 11 Downing Street.
