Proceeding contribution from Lord Howard of Rising (Conservative) in the House of Lords on Tuesday, 13 January 2009. It occurred during Committee of the Whole House (HL) and Debate on bill on Banking Bill.
Banking Bill
The Minister should not worry about it. The FSA may have published information in the past but that is no guarantee that it will do so in the future. I am sure that it will, but if there is a requirement for it to do so that will be absolutely certain. There is also a question of the quantity of information that the FSA makes available. I have not seen the documents to which the Minister has referred, so I cannot make a judgment on that, but I would certainly like to look at them and see if the sort of reports the FSA is making would be of use. I am not sure that the Minister is correct in saying that the FSA is unable to take steps to avoid the special resolution regime having to be implemented. If it cannot take those steps, why on earth is it involved? Presumably one of its regulatory roles is to try to implement conditions to avoid this sort of thing happening. Anyway, when I have fully recovered from being a Baroness, I shall look at Hansard and consider the Minister’s remarks carefully. In the mean time, I beg leave to withdraw the amendment. Amendment 29 withdrawn. Clause 8 agreed.
Secondary information
- Type
- Proceeding contribution
- Reference
- 706 c1210
- Session
- 2008-09
- Chamber / Committee
- House of Lords chamber
- Subjects
- Disclosure of information Codes of practice Accountability Administration Assets Bank services Banks Credit unions Building societies Bank of England Deposits Financial institutions Insolvency Legislation Government assistance Financial Services Authority Financial markets Foreign companies Protection Public sector Public expenditure Nationalisation Terrorism Regulation Shareholders Treasury Financial Services Compensation Scheme Northern Rock Freezing of assets
- Legislation
- Banking Bill 2007-08 to 2008-09
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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- 2024-01-27 13:48:48 +0000
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