Written evidence to be reported to the House
Banking Bill
4:40 pm
Mark Hoban (Shadow Minister, Treasury; Fareham, Conservative)
May I go further? On the cost of capital, you have both referred to the impact that it could have through the capital requirements directive. I am intrigued to understand how you think that will work its way through, and what the impact might be. I have spoken to one international bank, which said that if the right safeguards were not in place, it would lead to a situation in which you were counting assets and liabilities on a gross basis, not a net basis. His argument was that that would make London a pretty unattractive place to do business. Do you share that view?