§ Sir Peter TapsellTo ask the Chancellor of the Exchequer in what form authority was given to the Governor of the Bank of England to sign the statement issued on 26 September by 15 European central banks entitled, Statement on Gold. [97392]
§ Miss Melanie Johnson[holding answer 8 November 1999]: By long-standing arrangement, the Bank acts as the Treasury's agent in managing the reserves. As is normal on such occasions the Treasury gave the Bank authority to act.