Written question asked by Keith Vaz (Labour) on Monday, 26 January 2004, in the House of Commons. It was due for an answer on Thursday, 29 January 2004. It was answered by Ruth Kelly (Labour) on Thursday, 29 January 2004 on behalf of the Treasury.

Treasury

Question: To ask Mr Chancellor of the Exchequer, if he will make a statement on the supervision of banks by the Financial Services Authority. (Failed OPQ)

Answer: Keith Vaz: To ask the Chancellor of the Exchequer if he will make a statement on the supervision of banks by the Financial Services Authority. [151566] Ruth Kelly: As the right hon. Gentleman is aware, responsibility for the supervision of banks moved from the Bank of England to the Financial Services Authority on 1 June 1998. The legislative framework for the regulation of banks was subsequently reformed under the Financial Services and Markets Act, which came into effect on 1 December 2001. The regime for prudential supervision of banks is kept under constant review, both at home and internationally, in forums such as the European Union and the Basle Committee on Banking Supervision.

Secondary information

Type: Written question
Reference: 417 c448W; 151566
Session: 2003-04
Question not reached: Yes
Subjects: Banks Financial Services Authority Regulation
Link: View this Written question on www.publications.parliament.uk

Treasury

Secondary information

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