Bank of England's customer banking strategy review

Following a review of its customer banking activities, the Bank of England said on 27 July that it has concluded that the provision of retail banking activities does not form an integral part of its role as a central bank.

It has therefore decided that over the next few years it should withdraw from providing retail banking and clearing services to its commercial customers such as government departments, building societies and other corporate customers.

The Bank believes that it should concentr