Clause 168
Banking Bill
11:15 am
Ian Pearson (Parliamentary Under-Secretary, Department for Business, Enterprise & Regulatory Reform; Dudley South, Labour)
I am clearly saying the latter. We think that in most circumstances it will be appropriate that oversight is delivered through the Bank of England’s participation in international co-operative arrangements. It is not right to say that that will be the case in each and every circumstance, because I cannot anticipate what future circumstances might be. However, the normal way of things is that we would discuss such matters with other central banks as part of the normal arrangements. I hope that answer provides clarity to the Committee.