Written question asked by Dai Davies (Independent (affiliation)) on Wednesday, 25 February 2009, in the House of Commons. It was due for an answer on Friday, 27 February 2009. It was answered by Ian Pearson (Labour) on Wednesday, 25 March 2009 on behalf of the Treasury.
Banks: Finance
- Question
- To ask the Chancellor of the Exchequer what restrictions (a) his Department and (b) the Financial Services Authority have placed on the use of public money used to recapitalise British banks to provide loans made by banking subsidiaries of those banks operating outside the United Kingdom.
- Answer
-
On 8 October 2008 the Government announced measures to support the stability of the financial system, protect ordinary savers, depositors, businesses and borrowers, and to safeguard the interests of the taxpayer.As part of their investment, the Government agreed with the banks supported by the recapitalisation scheme a range of commitments. Details are available at"http://www.hm-treasury.gov.uk/press_105_08.htm."The Government's investment is managed on a commercial basis by UK Financial Investments Ltd. (UKFI), a company which is wholly owned by the Government. Its overarching objectives are to protect and create value for the taxpayer as a shareholder, with due regard to financial stability and acting in a way that promotes competition.
Secondary information
- Type
- Written question
- Reference
- 490 c404-5W; 259863
- Session
- 2008-09
- Subjects
- Banks Finance
- Link
- View this Written question on www.publications.parliament.uk
Librarians' tools
- Timestamp
- 2013-11-25 06:54:10 +0000
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