(1) At least once a year the Bank of England must make a report to the Treasury on -
(a) the discharge of its functions under this Part,
(b) the extent to which, in its opinion, in discharging those functions its financial stability objective has been met, and
(c) such other matters as the Treasury may from time to time direct.
(2) Subsection (1) does not require the inclusion in the report of any information whose publication would in the opinion of the Bank of England be against the public interest.
(3) The Treasury must lay before Parliament a copy of each report received by them under this section.