HL Deb 01 February 2005 vol 669 cc32-3WA
Lord Dykes

asked Her Majesty's Government:

Whether they plan to hold talks with the Bank of England on the current and future policy of holding euro investments as part of the United Kingdom's total reserves. [HL956]

Lord McIntosh of Haringey

As set out in the foreword to theExchange Equalisation Account: Report and Accounts 2003–04, presented to the House on 19 July 2004, the Treasury and the Bank of England meet regularly to discuss reserves issues including currency composition.

The United Kingdom has been at the forefront internationally in promoting openness and transparency in reserves data. Details of the current currency composition of the reserves are available from the Bank of England's website at www.bankofengland.co.uk/mfsd/reserves.