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Banking Bill

My noble friend speaks with considerable knowledge of this subject. However, there is the counter-view that the position of depositors and creditors is enhanced by being part of a branch with a claim on the ultimate parent company rather than a claim on a subsidiary with limited capital. There are two sides to this argument. Nevertheless, the issue of tensions between the home regulator and the host regulator and some practical issues which have arisen around deposit protection schemes under the directive are ones that my right honourable friend the Chancellor of the Exchequer has raised with the EU Commission and that we will put on the agenda for discussion in preparation for the forthcoming G20 meetings to be hosted in London.