Clause 223
Banking Bill
3:00 pm
Mark Hoban (Shadow Minister, Treasury; Fareham, Conservative)
Is there not an alternative way of looking at the matter? In preparation for the debate, I had a quick look at a weekly report; in effect, it is the balance sheet of two notional departments in the Bank and a consolidation. It would be possible to produce a report that was not a balance sheet and did not require full disclosure, yet set out the normal forms of support that the Bank could offer an entity without having to reveal any covert support. By changing the published information, we could get round the issue of disclosing covert support, while still allowing the Bank to be accountable for the overt support it gives.