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Proceeding contribution from Viscount Eccles (Conservative) in the House of Lords on Monday, 15 December 2008. It occurred during Debates on delegated legislation on Kaupthing Singer & Friedlander Limited (Determination of Compensation) Order 2008.


Kaupthing Singer & Friedlander Limited (Determination of Compensation) Order 2008

I reinforce the question I asked. I understand that there were explorations within the private sector to find a solution; indeed, the solution that was found included a fairly large private sector option to transfer the deposits. But was a public sector solution considered? That is the burden of the argument I was putting forward. We were only 10 days from the bank recapitalisation scheme, which must have been known to the Treasury. In order to get through those 10 days, public sector financial assistance would have secured that Bradford & Bingley could enter the recapitalisation scheme and continue, instead of being brought to a halt.


Secondary information

Type
Proceeding contribution
Reference
706 c18GC 
Session
2008-09
Chamber / Committee
House of Lords Grand Committee
Subjects
Disclosure of information Compensation Assets Banks Nationalisation Shares Shareholders Iceland Landsbanki Bradford and Bingley Kaupthing Singer and Friedlander Heritable Bank Kaupthing Bank
Legislation
Bradford and Bingley plc Compensation Scheme Order 2008
Kaupthing Singer and Friedlander Limited (Determination of Compensation) Order 2008
Heritable Bank plc (Determination of Compensation) Order 2008
Link
View this Proceeding contribution on www.publications.parliament.uk