Bank of England

HC Deb 21 December 2000 vol 360 cc337-8W

Mr. Letwin

To ask the Chancellor of the Exchequer if he has set guidelines for the overnight investment of the foreign exchange reserves held by the Bank of England. [143844]

Miss Melanie Johnson

A description of credit risk management for the Exchange Equalisation Account is given in the Credit Risk section (paragraphs 21–23) of the Foreword to "Exchange Equalisation Account: Accounts 1997–98".

Mr. Letwin

To ask the Chancellor of the Exchequer what was the average rate of return earned by the Bank of England on its foreign exchange reserves during 1999–2000. [143843]

Miss Melanie Johnson

Information on the rate of return on the foreign exchange reserves is given in the financial accounts for the Exchange Equalisation Account.