Letter from the Chief Cashier at the Bank of England to the Treasury
Published 6 May 2020
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Bank of England
Mario Pisani, Deputy Director, Debt & Reserves Management, Fiscal Group, 1 Horse Guards Road, London SW1A 2HQ
Sarah John, Chief Cashier, Notes Directorate
14 April 2020
CC: Les Matheson, Chief Executive Officer, Personal Banking, Royal Bank of Scotland Group plc
Transfer of the authorisation to issue commercial banknotes in Northern Ireland
Thank you for your letter dated 21 February 2020 formally requesting, in accordance with Section 214A(6) of the Banking Act 2009 and on behalf of HM Treasury, the consent of the Bank of England (the Bank) to the designation of National Westminster Bank plc as an authorised bank for the purposes of Part 6 of the Banking Act 2009. We understand it is the Government’s intention to transfer the existing statutory authority for Ulster Bank Limited to issue commercial banknotes in Northern Ireland from Ulster Bank Limited to National Westminster Bank plc, which is within the same banking group, via a statutory instrument made under section 214A of the Banking Act 2009.
In accordance with section 214A(6) of the Banking Act 2009, please accept this letter as confirmation of the Bank’s consent to the designation of National Westminster Bank plc as an authorised bank for the purposes of Part 6 of the Banking Act 2009. I am also copying Ulster Bank Limited into this letter.
[signed] Sarah John, Chief Cashier