To ask the Chancellor of the Exchequer
(1) if he will publish a list of each application for the change of control of a bank made in the last four years;
(2) when his Department last conducted a review of the process of granting authorisation for (a) banks and (b) insurance companies;
(3) where each company seeking authorisation as a bank was located when the application was made in each of the last four years; and when each such application was determined.
The publication of details and statistics on new bank authorisations, and changes of control are matters for the independent financial regulators: the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA).
The PRA and FCA published a Review of the authorisation process as part of ‘A review of requirements for firms entering into or expanding in the banking sector: one year on’, on
The PRA published its Annual Report and Accounts 2014 in June, which included details of the number of banks and insurance firms authorised between