Banking Bill
12:00 pm
Loretta Minghella: It is not that we are particularly interested in whether Ms Minghella or Dr. Huertas have any particular amounts—we are not interested in individuals from that point of view, but in making sure that the process works smoothly from day one. It is going to be one of the jobs of the FSCS to give advice on whether the payout could be activated speedily enough, or whether it would not, because of the status of the system, and some other special resolution tool might need to be chosen. That is what the FDIC does—it works with the particular systems of the institution, testing them to make sure that they will work effectively on the day and that the data that should be there are there in the right form. It is not a prurient interest in any individual’s account, but more to do with the issues of that system.