Northern Rock and Banking Reform

Part of Supplementary Estimates, 2007-08 – in the House of Commons at 3:35 pm on 10th March 2008.

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Photo of Colin Breed Colin Breed Shadow Minister, Treasury 3:35 pm, 10th March 2008

Of course, banks are going to be solvent. Their problem, because of liquidity, is making their assets able to pay their deposits quickly enough. All banks that borrow short and lend long face that problem. Does the right hon. Gentleman agree that it is amazing that the FSA paid little if any attention to banks' liquidity?

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