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Treasury

Answer

Keith Vaz: To ask the Chancellor of the Exchequer which banking licences have been (a) granted and (b) refused since 1 May 1997. [65387] Ruth Kelly: The information is as follows: (a) In the period between 1 May 1997 and 30 November 2001, a total of 42 institutions were granted banking licences under the Banking Act 1987. Since 1 December 2001, one firm has been authorised as a bank under the Financial Services and Markets Act 2000, and it appears on the Financial Services Authority's public register. A detailed list of these 43 firms follows. (b) In the period between 1 May 1997 and 30 November 2001, a total of three institutions applied for authorisation under the Banking Act 1987 but did not proceed through to authorisation. In the period from 1 December 2001, no applications for banks have been formally refused. The names of firms which apply for authorisation have at all times remained confidential between the firm and the relevant supervisor, until the firm has been authorised. Additions to Banking Act list from 1 May 1997 Alliance and Leicester plc Bank of Cyprus Ltd. Halifax plc Legal and General Bank Ltd. Philippine National Bank (Europe) plc Woolwich plc The Korea Development Bank Bristol and West plc Northern Rock plc Wachovia Bank NA Housing and Commercial Bank, Korea Standard Life Bank Ltd. Tesco Personal Finance Ltd. Ghana International Bank plc State Street Bank Europe Limited UBS AG Hua Nan Commercial Bank Ltd. Providian National Bank Alliance Trust Savings Ltd. Morgan Stanley Dean Witter Bank Ltd. Bank Mandiri (Europe) Ltd. Zurich Bank plc Israel Discount Bank Ltd. Bumiputra Commerce Bank Berhad J P Morgan International Bank Ltd. DLJ Bank Multi Commercial Bank (UK) Ltd. AMP Bank Ltd. UBS Warburg Ltd. Capital One Bank (Europe) plc Schroder and Co. Ltd. Bank One Capital Markets Ltd. Bradford and Bingley plc Dao Heng Bank Ltd. Fleet Bank (Europe) Ltd. Habib Allied International Bank plc Bank Sepah International plc Goldfish Bank Ltd. Melli Bank plc Pakistan International Bank (UK) Ltd. Persia International Bank plc Sonali Bank (UK) Ltd. Additions under Financial Services and Markets Act 2000 The Charity Bank Ltd.: 30 April 2002

Secondary information

Type

Written question

Reference

388 c763-4W;388 c766-7W; 65387

Session

2001-02

Subjects

Applications Banks Licensing Financial institutions

Contains statistics

Yes

Link

View this Written question on www.publications.parliament.uk