Bank of England Court Meeting Reviews Key Programs and Approves Appointments

The Court of Directors of the Bank of England convened on 9 December 2025, with members including Governor Andrew Bailey and Deputy Governors such as Sarah Breeden and Sam Woods. The National Audit Office presented a review of the RTGS Renewal Programme, commending the Bank for achieving its modernization goals and demonstrating value for money through strong leadership and collaboration with Accenture. The Court approved the business case for the Monetary Policy Transformation Programme, noting progress in communications changes and emphasizing the need for ongoing leadership during implementation. Appointments included Clair Mills as Executive Director for Banking and Payments Operations and Jonathan Rand as Executive Director for Risk, with role re-evaluations and remuneration approved. Updates covered business planning for financial years 2026/27 to 2028/29, committee reports on audit, risk, remuneration, and nominations, and discussions on retail payments infrastructure priorities, including support for account-to-account payments and digital pound preparations. The Court also approved de-redactions of minutes from 2023 for publication in February 2026 and addressed industrial action by contractor staff.