(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, and
(b) such other matters as the Treasury may from time to time direct.
(2) A report on the discharge of the Bank's functions under this Part must, in particular, include the Bank's opinion as to -
(a) 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
(b) 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.
(3) This section does not require the inclusion in a report of any information the publication of which would, in the opinion of the Bank, be against the public interest.
(4) The Treasury must lay before Parliament a copy of each report received und
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