Parliamentary Search

Proceeding contribution from Lord Newby (Liberal Democrat) in the House of Lords on Wednesday, 14 January 2009. It occurred during Committee of the Whole House (HL) and Debate on bill on Banking Bill.

Banking Bill

Let us be clear. When the Minister said that a bridge bank could take on toxic assets, am I right in thinking that it could do so only in the context of Clause 8—namely, that the bank from which it was taking the toxic assets was in such difficulty that either the stability of, or maintenance of public confidence in, the financial system was at risk or protection of depositors was required—and that it could not take on the toxic assets of a bank that was doing reasonably well? Could it take on toxic assets only in cases where the conditions for the stability regime to come into play were met?

Secondary information

Type
Proceeding contribution
Reference
706 c1248 
Session
2008-09
Chamber / Committee
House of Lords chamber
Subjects
Contracts Codes of practice Accountability Directors Assets Bank services Banks Competition Delegated legislation Bank of England Employment Liability EU law Financial institutions Insolvency Private sector Protection Pay Public appointments Property transfer Public sector Parliamentary scrutiny Staff Nationalisation Shares Taxation Shareholders Treasury
Legislation
Banking Bill 2007-08 to 2008-09
Link
View this Proceeding contribution on www.publications.parliament.uk