It has been emphasized by many commentators how the nature of banking has changed out of all recognition since the enactment of the Bills of Exchange Act in 1882. In this context it might be interesting to look back and see how the regulation of banking in the United Kingdom has developed over the last decade and to see what steps the Bank of England has taken to meet the needs of a marketplace that has seen many, sometimes dramatic, changes in that time. I will then touch briefly on the changes that have taken place in the London Eurocurrencies market in recent years. Finally, I will comment on the way in which the obligation of confidentiality has been eroded by statute in the interest of detecting and preventing crime.