Banking Bill
10:56 am
Sally Keeble (Northampton North, Labour)
When Mervyn King came to see us he said that a scheme like this, if the banks were to pre-fund it, would amount to tens of billions of pounds, which he called “non-negligible”. Since then, to maintain confidence in the banking system has cost more than that—it has been hundreds of billions. What modelling have you done about how much would actually be needed for the scheme? What kind of bank collapse would it be able to deal with? Could it deal with an HBOS? What size of bank? When will you publish the draft regulations—there are some in clauses 155 onwards, but I mean more detailed ones?