Central Banking

BoE's governor blames banks for £5 note shortage

Mervyn King, governor of the Bank of England, criticised the short supply of "fivers" in his annual Mansion House speech on 20 June.

"I am proud of the new £20 notes, but I cannot say the same of our £5 notes," said the governor, noting that there had been "much, and in my view justified, criticism of their availability and condition."

Many notes "are noticeably soiled and scruffy. ...The problem is not at the production end - we have an ample supply of new £5 notes waiting to be used. We wan