1-14 of 14 results for subject:"Credit Suisse"
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To ask the Chancellor of the Exchequer, whether his Department has made an assessment of the implications for his policies of the role of Lex Greensill in Credit Suisse's risk management failures.
To ask the Chancellor of the Exchequer, whether his Department has made an assessment of the implications for his policies of the role of Lex Greensill in Credit Suisse's risk management failures.
The regulation of individual firms is a matter for the independent financial regulators to comment on.
To ask the Secretary of State for Health and Social Care, what assessment he has made of the implications for his policies of the takeover of Credit Suisse in the context of the role of Richard Meddings as (a) a member of the board of directors and (b) chair of...
To ask the Secretary of State for Health and Social Care, what assessment he has made of the implications for his policies of the takeover of Credit Suisse in the context of the role of Richard Meddings as (a) a member of the board of directors and (b) chair of...
No specific assessment has been made.
To ask the Secretary of State for Business and Trade, how many outstanding arrangements UK Export Finance has with (a) Credit Suisse and (b) any of its subsidiaries on the provision of (i) buyer credit facilities, (ii) lines of credit, (iii) standard buyer loan guarantees and (iv) bills and notes...
To ask the Secretary of State for Business and Trade, how many outstanding arrangements UK Export Finance has with (a) Credit Suisse and (b) any of its subsidiaries on the provision of (i) buyer credit facilities, (ii) lines of credit, (iii) standard buyer loan guarantees and (iv) bills and notes...
UK Export Finance (UKEF) has no exposure against Credit Suisse. Credit Suisse is not a buyer, or borrower, and nor is it acting as a guarantor for a buyer or borrower that is relying upon UKEF support in any transaction.
UKEF has provided its guarantee to the lenders for the Ankara-Izmir High Speed Railway project, which guarantees them against non-payment of principal and interest from the Borrower. Consequently, UKEF has no liability arising from Credit Suisse’s participation in that project.
To ask the Secretary of State for Business and Trade, with reference to the announcement by UK Export Finance on 24 May 2022 of its support for construction of the Ankara-Izmir High Speed Railway, what funds guaranteed to Credit Suisse under the Buyer Credit facility used to finance the project...
To ask the Secretary of State for Business and Trade, with reference to the announcement by UK Export Finance on 24 May 2022 of its support for construction of the Ankara-Izmir High Speed Railway, what funds guaranteed to Credit Suisse under the Buyer Credit facility used to finance the project...
UK Export Finance (UKEF) has no exposure against Credit Suisse. Credit Suisse is not a buyer, or borrower, and nor is it acting as a guarantor for a buyer or borrower that is relying upon UKEF support in any transaction.
UKEF has provided its guarantee to the lenders for the Ankara-Izmir High Speed Railway project, which guarantees them against non-payment of principal and interest from the Borrower. Consequently, UKEF has no liability arising from Credit Suisse’s participation in that project.
To ask the Chancellor of the Exchequer, what the value of Additional Tier 1 bonds supporting UK banks is; and what assessment he has made of the potential impact of the takeover of Credit Suisse on UK Banks' ability to issue those bonds in the future.
To ask the Chancellor of the Exchequer, what the value of Additional Tier 1 bonds supporting UK banks is; and what assessment he has made of the potential impact of the takeover of Credit Suisse on UK Banks' ability to issue those bonds in the future.
As noted by the Chancellor on Monday 20 March, the Government welcomes the steps taken by the Swiss authorities in relation to Credit Suisse to support financial stability.
The Bank of England published a statement to reiterate the creditor hierarchy in the UK. The statement confirmed that Additional Tier 1 (AT1) instruments rank ahead of Common Equity Tier 1 (CET1) and behind Tier 2 (T2) instruments in the insolvency creditor hierarchy. Holders of such instruments should expect to be exposed to losses in resolution or insolvency in the order of their positions in this hierarchy.
The Prudential Regulation Authority is responsible for supervising UK banks’ capital adequacy requirements. The Bank of England's quarterly statistical release shows that the value of Additional Tier 1 capital in the UK banking sector was £67 billion as at Q3 2022. This figure includes both externally issued and intragroup capital instruments.
The Governor of the Bank of England has confirmed that the UK banking system remains safe, sound and well capitalised.
To ask the Chancellor of the Exchequer, what assessment he has made of the potential implications for (a) his policies and (b) the banking sector of the treatment of additional tier-one bondholders in the takeover of Credit Suisse.
To ask the Chancellor of the Exchequer, what assessment he has made of the potential implications for (a) his policies and (b) the banking sector of the treatment of additional tier-one bondholders in the takeover of Credit Suisse.
As noted by the Chancellor on Monday 20 March, the Government welcomes the steps taken by the Swiss authorities in relation to Credit Suisse to support financial stability.
The Bank of England published a statement to reiterate the creditor hierarchy in the UK. The statement confirmed that Additional Tier 1 (AT1) instruments rank ahead of Common Equity Tier 1 (CET1) and behind Tier 2 (T2) instruments in the insolvency creditor hierarchy. Holders of such instruments should expect to be exposed to losses in resolution or insolvency in the order of their positions in this hierarchy.
The Prudential Regulation Authority is responsible for supervising UK banks’ capital adequacy requirements. The Bank of England's quarterly statistical release shows that the value of Additional Tier 1 capital in the UK banking sector was £67 billion as at Q3 2022. This figure includes both externally issued and intragroup capital instruments.
The Governor of the Bank of England has confirmed that the UK banking system remains safe, sound and well capitalised.
To ask Her Majesty's Government, what assessment they have made of the report in The Financial Times on 2 March that staff at Credit Suisse had asked investors to destroy documents to prevent leaks regarding loans made to people who were later sanctioned; and what steps, if any, have they...
To ask Her Majesty's Government, what assessment they have made of the report in The Financial Times on 2 March that staff at Credit Suisse had asked investors to destroy documents to prevent leaks regarding loans made to people who were later sanctioned; and what steps, if any, have they...
Questions relating to individual firms’ compliance with regulatory requirements, including those relating to record keeping, are matters for the Financial Conduct Authority (FCA).
The FCA is operationally independent from the Government. These questions have therefore been passed to the FCA who will respond directly to the noble Lord by letter. A copy of the letter will be placed in the Library of the House.
All breaches and suspected breach of sanctions must also be reported to the Office of Financial Sanctions Implementation (OFSI) in HM Treasury as the competent authority for financial sanctions in the UK.
To ask Her Majesty's Government further to the European Commission’s €344 million fine on UBS, Barclays, RBS, HSBC and Credit Suisse on 2 December for operating a foreign exchange cartel, what plans they have to appoint an independent inquiry into the operations of the UK arms of these banks.
To ask Her Majesty's Government further to the European Commission’s €344 million fine on UBS, Barclays, RBS, HSBC and Credit Suisse on 2 December for operating a foreign exchange cartel, what plans they have to appoint an independent inquiry into the operations of the UK arms of these banks.
The UK’s independent financial services regulator, the FCA, investigated misconduct in the foreign exchange markets and fined six firms (Citibank, HSBC, JP Morgan, RBS, UBS, and Barclays) a total of £1.4 billion in 2014 and 2015 for failures of systems to control trading practices.
Alongside this, the European Commission opened a competition investigation in 2013, into the same issue, including covering any harm within the UK. In accordance with the EU-UK Withdrawal Agreement, the EU has continued to be responsible for the case, because it was initiated before the end of the transition period. The EU shall reimburse the UK for its share of the amount of the fine once the fine has become definitive.
To ask Her Majesty's Government whether (1) they, (2) the Financial Conduct Authority, or (3) the Prudential Regulation Authority, have taken any action in respect of the decision by Credit Suisse Asset Management to suspend dealing in supply chain finance funds managed by Greensill Capital because of uncertainties with respect to...
To ask Her Majesty's Government whether (1) they, (2) the Financial Conduct Authority, or (3) the Prudential Regulation Authority, have taken any action in respect of the decision by Credit Suisse Asset Management to suspend dealing in supply chain finance funds managed by Greensill Capital because of uncertainties with respect to...
Greensill is an international group of firms, including an Australian holding company and a German bank. There are two UK entities – Greensill Capital UK and Greensill Capital Securities Limited.
Greensill Capital UK is not authorised by the UK financial authorities. It is registered under Anti-Money Laundering regulations, which means that the Financial Conduct Authority (FCA) supervises it for compliance with anti-money laundering rules, but not for wider conduct issues.
Greensill Capital Securities Limited is not authorised or supervised by the FCA but was an Appointed Representative of a regulated firm (Mirabella Advisers). An Appointed Representative is a firm or person who carries out regulated activities under the supervision of a firm directly authorised by the FCA (known as a principal firm). A principal firm is responsible for ensuring that its Appointed Representative complies with the requirements, rules and regulations of the FCA.
HM Treasury has been working closely with the FCA and PRA to monitor developments and assess the implications for the financial sector, and with other government departments to understand any impacts that these developments may have on linked UK-based companies and the services they provide.
To ask the The Attorney General, for what reasons three former Credit Suisse employees, Andrew James Pearse, Surjan Singh and Detelina Vaneva Subeva who are subject to an extradition request from US authorities, have not been charged under UK law.
To ask the The Attorney General, for what reasons three former Credit Suisse employees, Andrew James Pearse, Surjan Singh and Detelina Vaneva Subeva who are subject to an extradition request from US authorities, have not been charged under UK law.
Charging decisions are matters for the Directors of the Crown Prosecution Service and the Serious Fraud Office, who act independently. Such decisions are made by applying the Code for Crown Prosecutors. I cannot comment on individual cases.
To ask Her Majesty’s Government whether they have examined reports of activities allegedly carried out by Credit Suisse in facilitating tax avoidance in the United States, with a view to determining whether such practices were carried out in the United Kingdom; and, if so, what is their estimate of any...
To ask Her Majesty’s Government whether they have examined reports of activities allegedly carried out by Credit Suisse in facilitating tax avoidance in the United States, with a view to determining whether such practices were carried out in the United Kingdom; and, if so, what is their estimate of any...
HMRC takes all relevant developments into account when considering the threat from offshore tax evasion and the necessary action. HMRC's offshore evasion strategy calls for robust pursuit of those who seek to evade tax by hiding money offshore. This includes ensuring there is no place for facilitators of offshore tax evasion. The Government is also working internationally with others to achieve greater transparency of assets held offshore.
To ask Her Majesty's Government what payments have been made from (a) HM Treasury and its agencies, and (b) HM Revenue and Customs, to (1) Deutsche Bank, (2) Citigroup, (3) Credit Suisse, (4) Goldman Sachs, and (5) Morgan Stanley in 2008–09; and what those payments relate to.
To ask Her Majesty's Government what payments have been made from (a) HM Treasury and its agencies, and (b) HM Revenue and Customs, to (1) Deutsche Bank, (2) Citigroup, (3) Credit Suisse, (4) Goldman Sachs, and (5) Morgan Stanley in 2008–09; and what those payments relate to.
| Organisation | £’000 | Purpose |
| Deutsche Bank | 41 | Staff secondment |
| Citigroup | 1,922 | Financial stability related |
| Credit Suisse | 5,502 | Financial stability related |
| Morgan Stanley | 1,501 | Financial stability related |