text_body: --- DIVISION TITLE ---
  
  Bank of England and Financial Services Bill - Second Reading
  
  --- MOTION EFFECT ---
  
  
  
  
  @ MP voted aye in favour of changes to governance arrangements for the Bank of England; for changes to the bank's regulatory role; and in favour of restricting authorisations to issue Scottish and Northern Irish banknotes.
  
  @ MP voted no against changes to governance arrangements for the Bank of England; against changes to the bank's regulatory role; and against restricting authorisations to issue Scottish and Northern Irish banknotes.
  
  
  The majority of MPs voted in favour of changes to governance arrangements for the Bank of England; for changes to the bank's regulatory role; and in favour of restricting authorisations to issue Scottish and Northern Irish banknotes.
  
  The Bank of England and Financial Services Bill:
  
  * Makes the Bank of England Deputy Governor for markets and banking a member of the court of directors of the Bank and a member of [http://www.bankofengland.co.uk/monetarypolicy/pages/overview.aspx the interest rate setting Monetary Policy Committee].
  * Gives the Government the power to make changes to the governance structure of the Bank of England via secondary legislation. 
  * Requires the minutes of the Monetary Policy Committee be published "as soon as reasonably practicable" following the meeting", with a delay permitted in cases where proceedings led to decision to intervene in the financial markets.
  * Changes the required meeting frequency of the Monetary Policy Committee from "at least once a month" to at least eight times a year, and at least once in any 10 week period.
  * Makes the Bank of England the Prudential Regulation Authority
  * To restrict the authorisation to issue Scottish and Northern Irish banknotes to existing issuers, or other related banks.
  
  MPs were considering the Bank of England and Financial Services Bill[1]. 
  
  The question being considered was:
  
  :That the Bill be now read a Second time.
  
  The passing of this motion enabled the Bill to continue on its path to becoming law. 
  
  
  * [1] [http://services.parliament.uk/bills/2015-16/bankofenglandandfinancialservices.html Parliament's webpage on the Bank of England and Financial Services Bill]
  * [2] [http://www.publications.parliament.uk/pa/bills/cbill/2015-2016/0120/en/16120en01.htm Explanatory notes accompanying the Bank of England and Financial Services Bill]
  
  
  
  --- COMMENTS AND NOTES ---
  
  (put thoughts and notes for other researchers here)
  