The Treasury and Bank of England have agreed a new financial framework for the Bank which provides it with the resources required to carry out the wider monetary and financial stability responsibilities it has been given by Parliament since the last funding agreement five years ago. This is set out in a memorandum of understanding on the financial relationship between HM Treasury and the Bank.
The Memorandum of Understanding was updated on 13 February 2025. Please visit the following webpage to see the updated Memorandum of Understanding.
Letter from the Governor