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<p>The Government’s consultation on proposals for protecting access to cash for the
long term will be open until 23 September 2021. Following the consultation, the Government
will set out next steps for delivering on its commitment for legislating to protect
access to cash.</p><p>The consultation is available at: <a href="https://www.gov.uk/government/consultations/access-to-cash-consultation"
target="_blank">https://www.gov.uk/government/consultations/access-to-cash-consultation</a>.</p><p>
</p><p>As detailed in its consultation, the Government proposes that the Financial
Conduct Authority (FCA) becomes the lead regulator for oversight of the retail cash
system, including having responsibility for monitoring and enforcing new legislative
cash access requirements. In adopting this approach, the Government intends that the
Payment Systems Regulator (PSR) and Bank of England continue with their existing functions
with regards to cash; coordinated actions by the FCA and PSR on cash as part of the
COVID-19 response have shown that joint working between the regulators, at both strategic
and operational levels, is working effectively.</p><p> </p><p>The Government has,
and continues to be, closely engaged with the FCA, PSR, Bank of England, and industry
in developing its cash access proposals, including through the Joint Authorities Cash
Strategy Group, which provides a forum for the public bodies to formally co-ordinate
respective approaches to access to cash. The Group is chaired by HM Treasury and attended
by the Bank of England, PSR, and FCA.</p>
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