Only a few days to go: We’re raising £25,000 to keep TheyWorkForYou running and make sure people across the UK can hold their elected representatives to account.

Donate to our crowdfunder

Banking Reform

Part of Business of the House – in the House of Commons at 1:18 pm on 17th June 2010.

Alert me about debates like this

Photo of Mark Hoban Mark Hoban The Financial Secretary to the Treasury 1:18 pm, 17th June 2010

I am grateful to my hon. Friend. There have been a number of conversations with other colleagues globally about the lessons to be learned from the financial crisis and from the regulatory structures. It is interesting to talk to people in other jurisdictions about their views. Christian Noyer, the governor of the Banque de France, said in July last year:

"Indeed, one of the main lessons of the crisis may be that those countries where central banks assume banking supervision took advantage of their ability to react quickly and flexibly to emergency situations."

Others have expressed a similar view and that is why I think that the reforms we are announcing today are in the mainstream of reforms in financial regulation-a mainstream that the Opposition seem quite happy to stay outside, yet again.

Embed this video

Copy and paste this code on your website