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Proceeding contribution from Baroness Noakes (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

We are all struggling with the concept of why the tripartite authorities do not need something like a Financial Stability Committee. If the Bank of England needs one, why do not either each of the tripartite authorities—which would seem unnecessarily duplicative—or, more properly, the tripartite authorities overall? I cannot understand why the Government are concentrating on the Bank, which has a committee with the Treasury on it but not the FSA. The whole arrangement seems designed to unbalance the tripartite working arrangements when it should be bringing them closer together. The tripartite arrangements were put in place to remedy the deficiencies that arise when you have fragmentation among different institutions.

Secondary information

Type
Proceeding contribution
Reference
707 c106 
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