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
I am mystified by this. The Bank of England Act is not specific on this. The only broader references might be in relation to the specification of the Monetary Policy Committee’s objective in the 1998 Act. However, I do not think that the 1948 Act—if that is the right year—the 1998 Act or last year’s Banking Act specified these broader aspects. We continually refine what the Bank of England is supposed to do. Surely it is right to use best practice from other parts. We have the FSA with the financial stability objective expressed in different ways from the Bank of England. Are they not supposed to be achieving the same thing? Are they achieving different things? The Minister has not explained why they should be expressed differently.
Secondary information
- Type
- Proceeding contribution
- Reference
- 718 c544-5
- 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
Librarians' tools
- Timestamp
- 2024-04-21 20:30:38 +0100
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- http://data.parliament.uk/pimsdata/hansard/CONTRIBUTION_631110
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