In a letter to the Treasury Committee, Charlotte Hogg – who also serves as chief operating officer at the Bank – stated that she had not formally declared her brother’s role prior to or since joining the BoE in July 2013.

The first time Ms Hogg formally outlined her brother’s role was in a questionnaire which she submitted to the committee before an appointment hearing for her new position on 28th February 2017.

Ms Hogg said: “As Barclays Bank PLC is regulated by the PRA, under the Bank's internal code of conduct and personal relationships policy, I should have formally declared my brother's role when I first joined the Bank.

“I did not do so and I take full responsibility for this oversight.

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“I have now added a full record of my brother's role in the Bank's HR systems.”

Ms Hogg claimed that since the hearing, she had spoken with both the secretary of the Bank and the chair of the Bank’s court of directors, both of whom acknowledged that no actual or potential conflict of interest had arisen to date in relation to any decisions taken in her role as COO.

Ms Hogg also stated that she did not anticipate that any such conflict would arise in future.

She will now write to the Monetary Policy Committee, Financial Policy Committee and Prudential Regulation Committee to set out her brother’s role at Barclays and invite each committee to form its own view on whether an actual or potential conflict may arise.

Ms Hogg added: “As with all other policy committee members, I will also remain alert to any future situations which may give rise to even a risk of a perception of an actual or potential conflict of interest and will make appropriate and timely disclosures to the relevant committee.”