There are two ways the Government still plays a role. First, the final decision on appointments is taken by the Appointments Committee of the Cabinet. Second, appointments of non-official directors onto bank boards still lie outside the BBB. As the BBB gains experience, it would make sense to allow these decisions also to be taken by it.
Over time, as the bank boards are professionalized, executive appointment decisions should devolve from the BBB to the boards themselves, while the BBB – as it transforms into the Bank 4  BIS central bankers’ speeches  Investment Company (BIC), the custodian for the Government’s stake in banks -- should focus only on appointing directors to represent the government stake on the bank boards.