Part of the debate – in the House of Lords at 2:36 pm on 21 April 2009.
My Lords, I think that it will be a force for more prudent behaviour. The sources of non-institutionalised lending really are quite limited now. For instance, the fact that banks are no longer securitising loans and selling them on, but rather retaining ownership of a higher proportion of their loans, with the responsibility that goes with that, is a force for more prudent and conservative lending.