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The Wholesale Distribution Steering Group have the objective of overseeing the design of a new end-state model for wholesale cash distribution. This is to support the UK in an environment of declining cash volumes.
Date of meeting: 17 November 2021
Location: This meeting took place via video/audio link
3 November 2021 minutes The Chair explained these minutes will be published alongside the public update report in December. Sharing information on stakeholder management None. Eversheds confirmed that the process of formulating appropriate industry-wide commitment statements to the provision of wholesale cash is underway, and they are currently finalising a plan to deliver these. The Bank raised that it could be beneficial to publish the public update document on the 15 December to align with the Cash Action Group (CAG) announcement. This would provide a joined up view of the industry commitments to the provision of both wholesale and retail cash. The Bank explained that Natalie Ceeney, who is leading the CAG work, was supportive of this approach. WDSG members agreed to target the 15 December for publication, provided the current work had progressed sufficiently. The Bank provided an update on the work of the WDSG Comms Review Group, and explained that a revised version of the public update has been circulated to attendees for review ahead of the next meeting which is scheduled for 18 November. Actions were reviewed and closed where applicable. None. Bank of England: Sarah John (Chair), Nick Butt, Elisabeth Bertalanffy-Fournier, Ronan McClintock, James Best, Molly Galligan Eversheds: Ros Kellaway, Russell Saunders, Mark McLintock, Victoria Pickard Barclays: Tim Allen HSBC: Sue Yarham Lloyds Banking Group: Richard Hill Natwest: Richard Talbot Santander UK: Robert White Post Office: Russell Hancock HM Treasury: Derek Dunne Virgin Money: Derek Walker G4S: Paul Van Der Knapp TRM: Andrew Mills Vaultex: Phil Vaughan Martin Barrett (Lloyds), Kevin McMullan (Danske), Julie Fitzgibbon (BOI), John Garret (AIB), Anne Jessopp (TRM), Trystan Richards (Eversheds), Chris Barnes (KPMG), Simon Walker (KPMG), Azin Roussos (HMT)Minutes
Item 1 – Standing agenda items
Item 2 – Project Update
Next steps/ timetable
Target publication date
Item 3 – WDSG Communications Review Group Update
Item 4 – Review Action Log
Item 5 – AOB
Committee attendees
Apologies
