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Proceeding contribution from Lord Davies of Oldham (Labour) in the House of Lords on Monday, 26 January 2009. It occurred during Committee of the Whole House (HL) and Debate on bill on Banking Bill.

Banking Bill

They will be part of the government funds, which will attract a rate of interest. The noble Lord will recognise that we are concerned about the urgency with which these funds might be required. They could be needed at such short notice that there are difficulties about the nature of the investment. The intention is that the Treasury would borrow at the same rate as the markets—the gilts rate. The whole point of this investment is that is has to be risk-free and pretty short term or almost immediate in realisation. The noble Lord will recognise there are constraints about the nature of the funds concerned.

Secondary information

Type
Proceeding contribution
Reference
707 c18 
Session
2008-09
Chamber / Committee
House of Lords chamber
Subjects
Disclosure of information Compensation Codes of practice Audit Assets Debts Bank services Banks Delegated legislation Bank of England Bank notes Deposits Credit rating Housing Finance Fees and charges Liability EU law Investment Financial institutions Insolvency European communities Government assistance Financial Services Authority Financial markets Foreign companies Private sector Membership Public expenditure Property Parliamentary scrutiny Loans Post offices Monetary policy Statistics Regulation Stocks and shares Valuation Treasury Financial Services Compensation Scheme National Loans Fund Northern Rock Financial Stability Committee Sunset clauses
Legislation
Banking Bill 2007-08 to 2008-09
Link
View this Proceeding contribution on www.publications.parliament.uk