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Proceeding contribution from Baroness Noakes (Conservative) in the House of Lords on Monday, 15 March 2010. It occurred during Committee of the Whole House (HL) and Debate on bill on Financial Services Bill.

Financial Services Bill

29: After Clause 4, insert the following new Clause— "Bank of England’s financial stability objective After subsection (1) of section 2A of the Bank of England Act 1998, insert— "(1A) In considering that objective, the Bank must have regard to— (a) the economic and fiscal consequences for the United Kingdom of instability of the UK financial system; (b) the effects (if any) on the growth of the economy of the United Kingdom of anything done for the purpose of meeting that objective; and (c) the impact (if any) on the stability of the UK financial system of events or circumstances outside the United Kingdom (as well as in the United Kingdom).""

Secondary information

Type
Proceeding contribution
Reference
718 c542 
Session
2009-10
Chamber / Committee
House of Lords chamber
Subjects
Disclosure of information Codes of practice Banks Bank of England Financial services Government assistance Financial Services Authority Financial markets Economic situation Loans Meetings Regulation Treasury Council for Financial Stability
Legislation
Financial Services Bill 2009-10
Link
View this Proceeding contribution on www.publications.parliament.uk