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Part of Bank of England and Financial Services Bill [HL] – in the House of Lords at 4:15 pm on 15th December 2015.

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Photo of Lord Turnbull Lord Turnbull Crossbench 4:15 pm, 15th December 2015

My Lords, I am somewhat puzzled by the amendment, because it seems to be a power which the Treasury Select Committee already has and already exercises. I will give noble Lords three examples. It called for a report from the Bank into Northern Rock, another one into RBS, and then—with some delay, appearing only three days ago—finally into HBOS. Therefore the Treasury Select Committee, led by the people who lead it now, does not need this power. It is perfectly capable of forcing the Bank to undertake a review and to reveal the contents to that committee.