Oral question asked in the House of Commons, by David Leslie Taylor (Labour). It was answered on Tuesday, 15 December 2009 on behalf of the Treasury.
Financial Services (Regulation)
- Question
- Earlier this year, the Chancellor was thinking aloud about the potential of an independent macro-prudential early warning system linking the Bank of England to European central banks, and a single micro-prudential rule-making body. Can the Minister say what the state of play is in terms of those developments?
- Answer
-
Our position is very clear: we do think that we need an EU-wide system to protect financial stability. We are also very clear that that EU-wide system should not have any impact on our fiscal responsibilities. As a result of the discussions at the ECOFIN meeting, we have now secured the fiscal safeguard that we were seeking.
Secondary information
- Type
- Oral question
- Reference
- 502 c788
- Session
- 2009-10
- Oral question type
- Supplementary
- Chamber / Committee
- House of Commons chamber
- Subjects
- Financial services EU action Regulation
- Link
- View this Oral question on www.publications.parliament.uk
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- Timestamp
- 2023-12-01 15:15:06 +0000
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