Ministerial statement on Wednesday, 8 July 2009, in the House of Commons, led by Lord Darling of Roulanish.

Reforming Financial Markets

Statement on reforming the financial markets.

Secondary information

Type: Parliamentary proceeding
Reference: 495 c969-87
Session: 2008-09
Department: Treasury
Chamber / Committee: House of Commons chamber
Related items: Hedge Funds
Wednesday, 15 July 2009
Written questions
House of Commons
Proceeding contributions: Lord Darling of Roulanish | 495 c975-6 (Link to this contribution) The hon. Gentleman seems to be trying to reduce this debate to a football match between the Bank of ...; Vincent Cable | 495 c976-7 (Link to this contribution) I acknowledge that there are many things in the paper that can be welcomed—which, indeed, we have ad...; George Osborne | 495 c972-5 (Link to this contribution) I thank the Chancellor for his statement, although frankly almost all of it was splashed over the fr...; Lord Darling of Roulanish | 495 c969-72 (Link to this contribution) With permission, I shall make a statement on the Government's proposals for reforming financial mark...; Lord McFall of Alcluith | 495 c978 (Link to this contribution) The Treasury Committee has made a detailed examination of the banking crisis. It found nothing wrong...; Lord Darling of Roulanish | 495 c978 (Link to this contribution) I am grateful to my right hon. Friend for his comments. I believe that the reforms that we are makin...; Michael Fallon | 495 c978 (Link to this contribution) The Chancellor seems to have trebled the confusion over responsibility for financial stability by sp...; Lord Darling of Roulanish | 495 c979 (Link to this contribution) The Bank of England has a statutory duty in relation to financial stability as well as monetary poli...; Lord Darling of Roulanish | 495 c977-8 (Link to this contribution) On the last point, I think that most hon. Members agree that we need to toughen up the regulatory sy...; Speaker | 495 c978 (Link to this contribution) Order. There are 23 Members seeking to catch my eye and, as ever, I would like to accommodate as man...; Sally Keeble | 495 c979 (Link to this contribution) I particularly welcome the proposals for stronger consumer protection, with an improved advice servi...; Lord Darling of Roulanish | 495 c979 (Link to this contribution) We need to arrange that the FSCS is pre-funded. We say in the White Paper that that cannot be done i...; Lord Lilley | 495 c979 (Link to this contribution) Does the Chancellor recognise that the City of London has become the financial capital of the world—...; Lord Darling of Roulanish | 495 c979-80 (Link to this contribution) As a general principle, I agree with the right hon. Gentleman's last point. His thesis falls down, h...; Lord Darling of Roulanish | 495 c980 (Link to this contribution) The FSA has a responsibility to make sure that people who are charged with running banks are qualifi...; Lord Tyrie | 495 c980 (Link to this contribution) A moment ago the Chancellor said—I pretty much quote—"I expect the Bank to have a wider role in all ...; Lord Darling of Roulanish | 495 c980 (Link to this contribution) I entirely agree. The hon. Gentleman has put very briefly the point that I was putting to the hon. M...; Lord Darling of Roulanish | 495 c980 (Link to this contribution) Over the years Canada has, in many ways, followed the model that we have been moving to, trying to s...; Peter Viggers | 495 c980 (Link to this contribution) Does the Chancellor agree that there are two distinct roles to be carried out, one being the detaile...; Rob Marris | 495 c980 (Link to this contribution) The Canadian banking system is pretty solid, with very large banks that are not divided between the ...; Lord Darling of Roulanish | 495 c981 (Link to this contribution) I have, of course, spoken to all my counterparts on several occasions since these problems first aro...; Lord Darling of Roulanish | 495 c980-1 (Link to this contribution) I have had many discussions with the Governor of the Bank over the past couple of years about these ...; Gordon Banks | 495 c981 (Link to this contribution) With the international implications of the current marketplace, can the Chancellor tell us what disc...; Viscount Thurso | 495 c981 (Link to this contribution) At the beginning of his statement the Chancellor mentioned the importance of competition. Does he ac...; Lord Darling of Roulanish | 495 c981 (Link to this contribution) The shareholders of both Lloyds and HBOS voted overwhelmingly, separately, for the merger to take pl...; Andrew Miller | 495 c981 (Link to this contribution) Although there is no direct read-across to other sectors outside financial services, will my right h...; Lord Darling of Roulanish | 495 c981-2 (Link to this contribution) I know that regulators speak to each other where they have common interests or concerns, and I am su...; Lord Darling of Roulanish | 495 c982 (Link to this contribution) I am not against bonuses—I meant to take the point up with the hon. Member for Twickenham—in whateve...; Ann Clwyd | 495 c982 (Link to this contribution) I welcome the White Paper, particularly the points made by my right hon. Friend about changing the f...; Lord Darling of Roulanish | 495 c982 (Link to this contribution) I know that my right hon. Friend had a Bill before the House, which she discussed with me. It is imp...; Peter Tapsell | 495 c982 (Link to this contribution) May I remind the right hon. Gentleman that on 11 November 1997 I explained to the then Chancellor ov...; Lord Darling of Roulanish | 495 c982-3 (Link to this contribution) I will bear that in mind for my holiday reading over the summer. I have the vaguest recollection tha...; Mark Durkan | 495 c983 (Link to this contribution) Chapter 9 of "Reforming financial markets" touches on the future regulation of credit unions in Nort...; Lord Darling of Roulanish | 495 c983 (Link to this contribution) The proposals that I put before the House today mean that when the Bank sounds a warning or expresse...; Michael Meacher | 495 c983-4 (Link to this contribution) As two of the main causes of the economic breakdown and the credit crunch were the mass-proliferatio...; Lord Darling of Roulanish | 495 c983 (Link to this contribution) I am aware of the problems relating to that society, and arrangements are being made to examine what...; Desmond Swayne | 495 c983 (Link to this contribution) Does the Chancellor agree with the Governor of the Bank of England's assessment that it was not clea...; Lord Darling of Roulanish | 495 c984 (Link to this contribution) The need to get lending going—particularly for small and medium-sized enterprises, but for others, t...; Geoffrey Robinson | 495 c984 (Link to this contribution) I apologise for missing the Chancellor's first few remarks in his statement. May I compliment him on...; Lord Darling of Roulanish | 495 c984 (Link to this contribution) On the latter point, the answer is quite simply that investment banks are systemically important, as...; Lord McCrea of Magherafelt and Cookstown | 495 c984 (Link to this contribution) I have no doubt that the measures that the Chancellor announced today are worthy of our careful cons...; Lord Darling of Roulanish | 495 c984-5 (Link to this contribution) I take the view that I have held consistently for the past 10 years. It was right to give the Bank i...; Lord Darling of Roulanish | 495 c987 (Link to this contribution) I know that the hon. Gentleman is obsessed with all things European, and I wonder how he and quite a...; William Cash | 495 c986 (Link to this contribution) Does the Chancellor accept that his statement, "whether we like it or not", in relation to the Europ...; Lord Darling of Roulanish | 495 c986 (Link to this contribution) The hon. Lady is right. The Financial Stability Board, which the International Monetary Fund set up,...; Baroness Kramer | 495 c986 (Link to this contribution) The Chancellor made no mention of the credit rating agencies, but they are the canaries of risk in t...; Lord Darling of Roulanish | 495 c986 (Link to this contribution) No, but we need to recognise—I was going to say "whether the right hon. Gentleman likes it or not", ...; David Heathcoat-Amory | 495 c986 (Link to this contribution) On that point, there is an overriding need for clarity and certainty in financial regulation, so why...; Lord Darling of Roulanish | 495 c985-6 (Link to this contribution) The hon. Gentleman makes a very fair point. We need an open, transparent market, so that people can ...; Stewart Hosie | 495 c985 (Link to this contribution) I thank the Chancellor for advance notice of the statement. I welcome the fact that he spoke of syst...; Angela Watkinson | 495 c985 (Link to this contribution) What caveats and terms and conditions did the Chancellor attach to the provision of the vast sums of...; Lord Darling of Roulanish | 495 c985 (Link to this contribution) I am not sure whether the hon. Lady was present at the many debates and statements that we have had ...; Speaker | 495 c987 (Link to this contribution) Order. The hon. Gentleman has asked a question of the Chancellor, who is replying.; Lord Brady of Altrincham | 495 c982 (Link to this contribution) The remuneration package agreed for Mr. Stephen Hester at RBS is weighted towards the long term and ...; Gordon Prentice | 495 c980 (Link to this contribution) Sir Fred Goodwin famously did not have a recognised banking qualification. Should chief executives b...
Subjects: Consumers Banks Cooperation Competition Advisory services Bank of England Finance Education Investment Financial services Financial institutions International cooperation Financial Services Authority Interest rates Financial markets Personal savings Protection Pay Management Mortgages Loans Regulation Treasury Government guaranteed credit Financial Services Compensation Scheme Council for Financial Stability
Contains statistics: Yes
Link: View this Parliamentary proceeding on www.publications.parliament.uk

Reforming Financial Markets

Secondary information

Librarians' tools