This paper originated in 1993 out of the CSFI's desire to contribute to the growing debate about the future of the Bank of England, and particularly to address a less well-explored aspect: how any change in the Bank's status might affect the supervision of the UK financial system.

This paper proposes a radical overhaul of the supervisory apparatus.  It lays out a blueprint for a new Financial Services Supervisory Commission (FSSC) which would act as a centralised supervisor and would have two main forms: banking and investment.  Purchase this paper to read more about the aims of this restructuring and its integration with the Bank of England.