Schedule 9: Wholesale cash distribution Part 1 – New Part 5A of the Banking Act 2009 Miscellaneous Section 206Z2: Annual report
This section provides that the Bank must, at least once a year, make a report to HM Treasury on the discharge of its functions under this Part and such other matters as HM Treasury may from time to time direct (see subsection (1)). Subsection (1) does not require the inclusion in the report of any information the publication of which would, in the opinion of the Bank, be against the public interest (see subsection (3)).
	A report on the discharge of the Bank’s functions under this Part must, in particular, include the Bank’s opinion as to the extent to which risks to the effectiveness, resilience and sustainability of wholesale cash distribution throughout the United Kingdom, or throughout any part of the United Kingdom, have been managed, and the extent to which, in relation to the exercise of functions in relation to persons recognised as having systemic significance, risks to the stability of the UK financial system have been managed (see subsection (2)).
	HM Treasury must lay before Parliament a copy of each report received under this section (see subsection (4)).