Written question asked by Harry Cohen (Labour), in the House of Commons. It was due for an answer on Thursday, 30 July 1998. It was answered by Patricia Hewitt (Labour) on Thursday, 30 July 1998 on behalf of the Treasury.

Treasury

Question: To ask the Chancellor of the Exchequer what steps he has taken to seek to improve the standard of banking regulation in Micronesia.

Answer: Mr. Cohen: To ask the Chancellor of the Exchequer what steps he has taken to seek to improve the standard of banking regulation in Micronesia. [53968] Ms Hewitt: Banking regulation in the Federated States of Micronesia is the responsibility of the Micronesian authorities. The UK, however, supports moves to strengthen national financial systems, and is working in various international groupings to encourage improved standards of banking regulation and supervision.

Secondary information