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Banking

House of Lords written question – answered on 10th July 2013.

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Photo of Lord Myners Lord Myners Labour

To ask Her Majesty’s Government whether they intend to take steps to transfer responsibility for decisions on leverage ratios for banks from ministers to regulators.

Photo of Lord Deighton Lord Deighton The Commercial Secretary to the Treasury

The question asked refers to one of the recommendations included in the final report of the Parliamentary Commission on Banking Standards published on 19 June 2013. The Government publicly replied to the report on 8 July 20131.

On the specific recommendation on the leverage ratio, the Government has reiterated its earlier commitment that the Financial Policy Committee will be given the power of direction to vary through time the baseline leverage requirement for deposit takers and investment firms, subject to it never being below the requirement determined by Basel III. That power should be granted once the baseline requirement is implemented.

1 https://www.gov.uk/government/publications/the- governments-response-to-the-parliamentary-commission- on-banking-standards

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