Banking
House of Lords
Lord Birt (Crossbench)
To ask Her Majesty's Government what assessment they have made of the lessons for the regulation of United Kingdom banks arising from the recent losses at JPMorgan Chase & Co.
Lord Sassoon (Commercial Secretary, HM Treasury; Conservative)
The precise details of the recent losses at JPMorgan Chase & Co are still emerging and the Treasury is monitoring events closely.
However, these losses demonstrate the importance of the Government's measures to strengthen regulation of the financial services sector and implement the recommendations of the Independent Commission on Banking (ICB).
In respect of the implementation of the recommendations of the ICB, the Government will publish their White Paper on