Banks: Insolvency

Treasury written question – answered on 24th January 2008.

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Photo of Mark Hoban Mark Hoban Shadow Minister (Treasury)

To ask the Chancellor of the Exchequer when he expects to bring forward proposals for legislation (a) on bank insolvency and (b) to implement the Market Abuse Directive.

Photo of Angela Eagle Angela Eagle The Exchequer Secretary, Member, Labour Party National Executive Committee

HM Treasury, the Bank of England and Financial Services Authority published a discussion paper, "Banking Reform: Protecting Depositors", in October 2007. Comments on that paper were requested by 5 December 2007. A consultation document outlining proposals for reforms to banking regulation and depositor protection will be published shortly, and will be followed by a 12-week consultation period. I refer the hon. Member to the statement made by the Chancellor on 21 January 2008, Hansard, columns 1207-24.

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