Proceeding contribution from Lord Davies of Oldham (Labour) in the House of Lords on Thursday, 21 February 2008. It occurred during Committee of the Whole House (HL) and Debate on bill on Banking (Special Provisions) Bill.
Banking (Special Provisions) Bill
The noble Lord must accept that my original answer encompassed this concept, but I will spell it out in more detail. Dolerite was a securitisation structure similar to Granite. It was used by Northern Rock to fund its commercial mortgage book. All bonds under that structure have now been redeemed. Therefore, Dolerite is entirely irrelevant to Northern Rock. As I cannot be any more explicit than that, I hope the noble Lord will forgive me.
Secondary information
- Type
- Proceeding contribution
- Reference
- 699 c289
- Session
- 2007-08
- Chamber / Committee
- House of Lords chamber
- Subjects
- Compensation Audit Administration Corporation tax Banks Competition Building societies Freedom of information Liability EU law Government assistance Financial Services Authority Powers Property transfer Mortgages Loans Staff Office of Fair Trading Nationalisation Lloyds TSB Shares Reform Taxation Shareholders Takeovers Treasury Hybrid bills Business plans Northern Rock Granite
- Legislation
- Banking (Special Provisions) Bill 2007-08
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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- Timestamp
- 2023-12-15 23:44:56 +0000
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