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Proceeding contribution from Lord Higgins (Conservative) 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

I understand that it is proposed that the Bank will publish a set of principles with regard to the interbank payments, and so on, and before doing so will consult operators in the market. I am not clear why this is necessary to prevent destabilisation of the system. I am right at the very beginning of the argument. These are apparently elaborate arrangements for ensuring that the Bank supervises and regulates the interbank payment system. What is the danger if there are unregulated operators working a system of interbank payments?

Secondary information

Type
Proceeding contribution
Reference
707 c39 
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