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Proceeding contribution from Viscount Eccles (Conservative) in the House of Lords on Monday, 2 February 2009. It occurred during Debate on bill on Banking Bill.

Banking Bill

My Lords, Amendment 60 is welcome but is written at a time when it is pretty clear that the banks did not know how to report on their activities. Just to say that there will be a report about the activities of any bank is a pretty bold statement if it encompasses that we should all understand when we read the report exactly what that bank’s situation is. Knowing that if the special regime is brought into play the Treasury will pick up all the complexities of whichever bank it is shows that there must be a case for thinking carefully about how bank reports are made. I am sure that that is under consideration. We are not looking for a transfer order, but if there were one, I would hope to find that the Treasury would establish best practice.

Secondary information

Type
Proceeding contribution
Reference
707 c526-7 
Session
2008-09
Chamber / Committee
House of Lords chamber
Subjects
Disclosure of information Compensation Codes of practice Consumers Accountability Directors Assets Bank services Banks Competition Delegated legislation Advisory services Building societies Bank of England Finance Human rights EU law Financial institutions Insolvency Government assistance Financial Services Authority Private sector Protection Pay Public appointments Pensions Public interest Property transfer Mergers Parliamentary scrutiny Pension funds Pension rights Nationalisation Regulation Shares Valuation Taxation Shareholders Treasury UK Financial Investments Financial Services Compensation Scheme Northern Rock Bradford and Bingley Hampton, Philip
Legislation
Banking Bill 2007-08 to 2008-09
Link
View this Proceeding contribution on www.publications.parliament.uk