Recommendation 12

We challenged the Treasury on who is responsible for the performance of the cash system. It accepted that it was ultimately responsible for proposing legislation to 20 Qq 39–40 21 Q 40 22 Q 41 23 Q 43 24 Q 57 25 Q 64 26 Qq 63–64 27 HM Treasury, Access to Cash: Call for Evidence, October 2020, para 3.33 28 Q 48 29 Qq 48–49, 60 30 Q 50 31 Q 59 The production and distribution of cash 11 Parliament and therefore identifying gaps in legislation. It chairs the Joint Authorities Cash Strategy Group which helps coordinate the work of the FCA, PSR, Bank of England and the Treasury though the Group is not a decision-making body.32 Each body has its own governance and decision-making structures. The Treasury thinks it is inevitable that responsibilities will be divided across a number of public bodies. In its view, the priority is to ensure that the work of the various public bodies is coordinated and that information is shared.33 In its call for views published just before our October 2020 session, the Treasury proposed that the FCA should take on overall responsibility for setting requirements to ensure that the retail distribution of cash meets the needs of consumers and businesses.34