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Banking Bill

The noble Lord has expressed the frustration that I felt to some extent at the response to my more modest amendments, which tried to reflect partly what happens in practice in respect of cross-membership, and partly the need for the FSA to be properly involved in the consideration of financial stability within the Bank. What is the point of having tripartite authorities if you then go away into your own bunkers and try to pretend that the other authorities do not exist, except of course that the Treasury is always to be found one way or another overseeing things? I am disappointed that the Minister has shown no understanding that the clause is wrongly conceived. I do not know whether the right answer lies in my rather minimalist solution or in the rather more fundamental rewriting of the provisions in relation to the FSA and the Bank of England of the noble Lord, Lord Eatwell. I am clear that some changes should be made to the Bill before we return it to the other place. We have a lot of thinking to do before Report, which will be upon us in no time at all. I see little point in asking the Minister to repeat ideas that we found incomprehensible, so I beg leave to withdraw the amendment. Amendment 175 withdrawn.