§ Mr. RogersTo ask the Prime Minister what are the statutory and administrative links between the Bank of England and the monetary authority for the Cayman Islands.
§ The Prime MinisterThere are no statutory links. Administratively, the Cayman Islands has since 1962 invited one of the Bank of England's London-based staff to serve as a member of its board of commissioners of currency. The Cayman Islands inspectorate of banks and trust companies has also since 1978 engaged a succession of International Monetary Fund secondees who all have been employees of the Bank. Some training has also been given.