Proceeding contribution from Mark Hoban (Conservative) in the House of Commons on Monday, 21 November 2011. It occurred during Ministerial statement on Northern Rock.
Northern Rock
This transaction is subject to regulatory approval by the Financial Services Authority, which will carefully examine a range of issues, including the capital position of Virgin Money. I have made the following point before, but it is worth repeating. Virgin Money's core tier 1 capital ratio is about 15%, whereas most of the UK high street banks are operating at about 10%, so is strongly capitalised. This deal is subject to regulatory approval, and that should give all of us confidence in the future of Northern Rock.
Secondary information
- Type
- Proceeding contribution
- Reference
- 536 c36
- Session
- 2010-12
- Chamber / Committee
- House of Commons chamber
- Subjects
- Government shareholding Sales Northern Rock plc Virgin Money
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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- 2023-12-15 13:53:30 +0000
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