Financial institutions

All Commons Briefing Papers
75 Documents
26.08.2016Brexit: impact across policy areas
This paper looks at the current situation in a range of policy areas and considers what impact Brexit might have. This will depend, among other things, on the Brexit negotiations, whether the UK stays in the European Economic Area and how the Government fills any policy gaps left by withdrawal.
25.08.2016Common Financial Services Questions
This Paper looks at a broad range of financial service and financial institution's issues.
12.07.2016Social Enterprise
This note describes the make up of what is often called the economic third sector or social enterprise.
30.06.2016Financial Services: European aspects
This Paper brings together recent European Union legislative and regulatory developments in the sphere of financial or corporate regulation. It provides relevant UK context and activity. It also includes a checklist of EU regulations currently being implemented across the EU with links to further information or explanation.
17.06.2016Commons Library analysis: Shining a light on beneficial ownership: what's happening in the UK and elsewhere?
This Commons Library briefing describes measures being taken in the UK and elsewhere to make ownership of companies, land and real property more transparent.
26.05.2016EU Referendum: analysis of the UK's new EU Settlement
This Commons Library briefing looks at the new Settlement for the United Kingdom within the European Union agreed at the European Council on 17-19 February 2016. The Settlement consists of seven texts: a Decision and a Statement of Heads of State or Government and five Declarations.
20.05.2016Commons Library analysis: The international anti-corruption summit in May 2016
This Commons Library briefing discusses the international summit on anti-corruption held in London on 12 May 2016 and what so far has emerged from it.
15.04.2016Bank of England and Financial Services Bill [HL]: Commons' committee stage proceedings
This paper summarises the Commons' committee proceedings on the Bank of England and Financial Services Bill.
13.04.2016Green Investment Bank
The Green Investment Bank was set up by the Government to stimulate investment in green infrastructure in 2012. Privatisation was announced in 2015.
01.04.2016Motor car insurance
This note outlines some of the factors influencing the cost of motor insurance premiums and what government and the industry have done to try and reduce costs.
28.01.2016The Bank of England and Financial Services Bill [HL]
This paper provides background and commentary on the Bank of England and Financial Services Bill which has its Second Reading in the House of Commons on 1 February 2016.
01.12.2015Riot (Compensation) Bill
The riots in London and other cities in 2011 raised serious issues about insurance liability and compensation. This Bill is the response.
27.11.2015Riot (Damages) Bill
This Commons Library briefing paper has been archived.
05.11.2015Equitable Life: compensation scheme
This note is designed to summarise the processes and principles behind the Equitable Life compensation scheme. It is designed to help constituents who wish to know what they might expect and what they have to do if they believe that they are due compensation.
02.11.2015Corporate Economic Crime
A forthcoming backbench business committee debate looks at corporate economic crime. This brief outlines the issues involved and highlights those responsible for prosecuting such crime. It includes links to further reading and resources.
04.08.2015The Big Society Bank/Capital and its role in society
This note sets out the establishment of the Big Society Bank and its emergence and connections to the dormant bank accounts legislation. It is now called the Big Society Capital Group.
20.07.2015Bank accounts: problems of identification
This note is aimed at the more practical manifestations of money laundering legislation. why can't I get a bank account?
02.07.2015Payment Systems Regulator
The financial crash of 2008 was a wake up call to the inadequacies of financial regulation worldwide. The basic payment service mechanisms on which everything relies did not escape the notice of the authorities. The upshot is a new regulator of the 'plumbing' of the financial system. This note describes its establishment and scope.
29.06.2015European banking union
This note brings together the main documents and developments regarding the EU's pan-Community supervisory and recovery mechanism for members' banking sectors - the Banking Union. Significant new measures were approved of in December 2013 it faces a severe test in respect to Greece in 2015..
23.06.2015Banking executives' remuneration in the UK
This Note outlines some of the changes made to the structure, determination and publication of executive salaries, with particular reference to banks and other financial companies.
18.06.2015Banking Services: reform and issues
A review of the new laws passed, reports about and issues surrounding, banks over the recent years.
10.06.2015Bank Branch closures
A new round of bank branch closures has been announced by several banks. This Note sets out the industry's response.
17.03.2015Five years of bank reform
This Paper brings together, in an abbreviated way, the main features of reform and regulatory activity affecting (particularly) banking to have taken place under the Coalition Government. It describes legislation and provides links to reports and studies by the principal regulatory bodies.
02.02.2015Banking Crises: lessons from Sweden and Norway
This note brings together narratives of two banking crises in Sweden and Norway in the early 1990s and describes the remedial action taken by central governments.
05.01.2015Credit Unions
Can credit unions ever live up to governments' hopes?
29.12.2014Mutuals Deferred Shares Bill
This Bill is a government-supported Private Members' Bill which started in the Lords.
17.11.2014Small Business, Enterprise and Employment Bill: Committee stage report
This is a report on the House of Commons Committee stage of the Small Business, Enterprise and Employment Bill.
10.07.2014Small Business, Enterprise and Employment Bill
The Small Business, Enterprise and Employment Bill will receive its Second Reading in the House of Commons on 16 July 2014.
31.01.2014LIBOR, Public Inquiries & FSA/FCA Disciplinary Powers
This note summarises some of the key points relating to the LIBOR scandal. It looks at issues surrounding public inquiries and at the role and limitations of the FSA's disciplinary powers.
30.12.2013The Independent Commission on Banking: The Vickers Report & the Parliamentary Commission on banking standards
This note summarises the main features proposed by the Vickers Commission to reform the UK banking market.
10.12.2013Financial Services (Banking Reform) Bill: Lords stages
This note summarises the proceedings of the Lords committee stage of the bill.
18.11.2013Mesothelioma Bill
The Bill provides the legislative framework for a new Diffuse Mesothelioma Payment Scheme to make payments to people with diffuse mesothelioma who were exposed to asbestos either negligently or in breach of statutory duty by an employer, and who are unable to bring a claim for damages against the employer or an Employers' Liability (EL) insurer.
25.06.2013Financial Services (Banking Reform) Bill: Committee Stage Report
This Bill follows a series of Acts passed since the financial crisis of 2008. Whereas other Acts established a new regulatory framework, this Bill sets out a new 'architecture' of the institutions themselves.
28.02.2013Financial Services (Banking Reform) Bill
This, latest, financial services reform legislation brings together the final proposals for how the banking sector will look going forward.
19.12.2012Financial Services Bill: House of Lords committee stages
Summary of Lords committee stages of Financial Services Bill
06.12.2012Financial Services Bill: House of Lords Report & Third Reading stages
A guide to the main amendments agreed to during the Report and Thrid Reading stages of the Financial Services Bill 2012
03.10.2012Enterprise and Regulatory Reform Bill: Committee Stage Report
This is a report on the Public Bill Committee Stage of the Enterprise and Regulatory Reform Bill. It is designed to complement the Research Paper Enterprise and Regulatory Reform Bill (RP 12/33), which covers in more detail the background to the Bill
22.08.2012Reforming financial markets VIII: implementing the new Basel regulatory capital rules
This is one of a series of notes which looks at actual or proposed reforms of either certain parts of the financial services sector or reforms of certain activities. These notes attempt to describe the progress made on individual issues through these phases. This note focuses upon the standards for prudential capital and liquidity control put forward at various levels of national and international authority.
03.07.2012Bank of England (Appointment of Governor) Bill
This Bill would make the appointment of the Governor of the Bank of England dependent upon the approval of the Treasury Select Committee.
22.06.2012Financial Services Bill [Bill 278 of 2010-12]
The focus of this Bill is to set up a new framework for financial regulation in the United Kingdom
07.06.2012Enterprise and Regulatory Reform Bill
The Enterprise and Regulatory Reform Bill introduces reforms in a number of areas.
17.05.2012Reforming Financial Markets: I Hedge Funds
This is one of a series of notes which looks at actual or proposed reforms of either certain parts of the financial services sector or reforms of certain activities in the wake of the fianncial crisis. These notes attempt to describe the progress made on individual issues through these phases. This note focuses upon the regulation of hedge funds by the Alternative Investment Fund Managers directive.
15.05.2012Financial Services Bill: Committee Stage & Report Stage (day one) Report.
The focus of this Bill is to establish a new framework for financial regulation in the United Kingdom.
19.04.2012Financial Services Bill: Committee Stage Report
The focus of this Bill is to establish a new framework for financial regulation in the United Kingdom.
03.06.2011The economic crisis: policy responses
This note brings together the various elements of Government action to deal with the current economic crisis
01.06.2011Retail Banking: overdraft and credit card charges
This note sets out the background and chronology to various challenges mounted by the public and the Office of Fair Trading against credit card companies and high street banks over their charging policies.
03.02.2011Equitable Life: Penrose and beyond
This Note outlines developments in the long running examination of the causes of and the search for remedies for, the collapse of Equitable Life. It starts with setting up of an inquiry by the Government into the causes of the troubles headed by a judge in Scotland, Lord Penrose. Another standard note deals with events leading up to this point: Equitable Life: Pre Penrose SN/BT/1197.
13.12.2010Loans to Ireland Bill. [Bill 125 of 2010-11]
This paper on the Loans to Ireland Bill has been prepared for the Second Reading Debate on the Bill in the House of Commons. The Bill authorises the Treasury to loan up to 3.25bn to Ireland, and contains an order-making power to increase this limit subject to affirmative procedure in the Commons. It also arranges for six-monthly reporting to Parliament on the status of the loan. All Commons stages were taken on 15 December 2010.
18.08.2010Keydata Investment Services in administration
Keydata Investment Services was placed into administration by the Financial Services Authority in June 2009. The administrators, PricewaterhouseCoopers, found a number of serious issues at the company, one of which was that many products sold as ISAs were in fact ineligible for tax-free saving status. More seriously, they subsequently found that income on certain investment products had not been paid in recent months, and, in the case of one type of investment, they had been unable to satisfy themselves as to the safe custody of the underlying assets", and suggested that "the assets have been liquidated and may have been misappropriated".
04.05.2010Irish banks: deposit protection
This note sets out the issues behind recent concerns surrounding the safety of deposits made by UK residents in Irish banks at the time of the financial crisis in 2008.
12.04.2010The credit crisis:a timeline
This Briefing Paper provides a brief summary of the financial crisis, or credit crunch, of 2008 followed by a lengthy timeline of individual events.
11.03.2010European responses to the financial crisis
Summarises responses from individual European governments and from the EU.
11.03.2010EU financial services legislation
This Paper is a summary of many of the financial services legislative initiatives announced by the EU in the immediate aftermath of the financial crisis in 2008/9.
27.01.2010Co-operative & Community Benefit Societies and Credit Unions Bill [HL] Bill No. 50
The Bill requires new industrial and provident societies (other than credit unions) to be registered as co-operative or community benefit societies, re-names the Industrial and Provident Societies Acts, and applies the Company Directors Disqualification Act 1986 to industrial and provident societies. The Bill also gives the Treasury powers to apply company law on the investigation of companies, company names and dissolution and restoration to the register, to industrial and provident societies, and to make provisions for credit unions corresponding to any provisions applying to building societies.
20.01.2010Financial Services Bill : Committee Stage Report
This is a report on the Committee Stage of the Bill. The Bill creates a Council for Financial Stability to co-ordinate the responsibilities and action of the Bank of England, Financial Services Authority (FSA) and Treasury with respect to financial stability. It also provides for collective consumer legal action to be taken in cases of multiple claimants against financial companies. The key debate at Committee Stage was on the structure of the regulatory system and the establishment of the Council for Financial Stability. One Government amendment was made to the Bill, which emphasised that the Bill had no retrospective impact upon executive remuneration contracts.
13.01.2010Competition and the banking crisis
This note sets out to: provide information on state aid rules and assistance to the financial sector; explain some of the competition concerns relating to the banking crisis; and set out briefly the powers of the competition authorities to address such concerns.
27.11.2009Financial Services Bill. Bill 6 2009-10.
This is the third piece of financial services legislation since 2007 to respond to the banking and financial crisis. It does however, include other measures designed to improve the position of financial services customers. It creates a Council for Financial Stability to co-ordinate the responsibilities and action of the Bank, FSA and Treasury with respect to financial stability matters. It enhances and extends the powers of the FSA and gives it new duties. Lastly, amongst other consumer protection measures, it provides for collective consumer legal action to be taken in cases of multiple claimants against financial companies. The Bill applies to the whole of the UK.
22.07.2009Icelandic Bank Default
This note sets out the events surrounding the collapse of several Icelandic banks with branches in the UK. It looks at compensation arrangements and the impact of default on other groups.
22.06.2009Proposals to reform financial regulation
This Note provides a summary of the reforms recommended in the Turner Review, the European Commission's de Larosiere report, documents produced by the Basel Committee on Banking Supervision and a range of reports produced by the Financial Stability Forum/Financial Stability Board.
15.06.2009US bank stress tests
This Standard Note provides an overview of the bank stress tests completed by the US federal authorities in May 2009
22.04.2009Co-operative and Community Benefit Societies and Credit Unions Bill - Bill 14 2008/09
This note describes a Private Members Bill, introduced by Malcolm Wicks MP, with government support, to modernise industrial provident societies and other third sector business forms.
27.03.2009Iceland's financial crisis
The global financial crisis has been tumultuous for Iceland. Until recently considered a rich, successful and competitive nation, Iceland suffered a dramatic collapse of its economy and currency following the collapse of its banking sector in October 2008. It was forced to negotiate a loan from the IMF and further financial support from a number of countries, and saw the fall of its government. The crisis has led to renewed suggestions that Iceland may apply to join the EU and adopt the euro. Following the Government's fall in January 2009, a caretaker Government took over in February and elections are expected on 25 April 2009. The major partner in the caretaker left-wing coalition, the Social Democratic Alliance, was a member of the previous administration and is strongly pro-EU, but its new partner, the Left Green Movement, has said it will continue to oppose EU membership.
04.03.2009Scottish banknote issuance
This short note describes what legal tender means and what determines the acceptability, or otherwise, of Scottish banknotes in the rest of the United Kingdom.
25.11.2008Banking Bill Committee Stage Report
The Banking Bill represents part of the Government's legislative response to the ongoing banking crisis affecting the UK. It continues powers provided temporarily in the aftermath of the Northern Rock nationalisation; provides a framework for new rescue initiatives of failing bank; alters the existing regulatory structure surrounding banks and makes changes to the compensation scheme which protects depositors' deposits.
24.10.2008Dormant Bank and Building Societies Bill [HL] Bill 150 of 2007-2008
14.10.2008Supplementary Estimate and Consolidated Fund (Appropriation) (No 3) Bill: or how the UK banks were rescued.
This note describes the immediate package of financial measures announced by the Government to stabilise the UK banking system at the height of the financial crisis. It relates to the rescue package for banks and not to the reforms to regulation which followed.
10.10.2008Banking Bill Bill 147 of 2007-08
Banking Bill Bill 147 of 2007-08 House of Commons Library Research Paper 08/77
30.09.2008Dormant Bank and Building Society Accounts Bill [HL] Bill 80 of 2007-08
This short Bill provides the legislative framework for an intended 'dormant assets' scheme. Dormant assets are those that have no clear owner; the owner has not used the account for some time and cannot be contacted. The Bill provides a mechanism by which assets so identified can be managed and distributed for defined social purposes. It also provides necessary legal protections for institutions participating in the scheme.
22.05.2008British coins use of the 'Britannia' figure
This note gives some background to press reports to the effect that none of the new coins in a newly redesigned set of coins will show Britannia on the reverse side.
24.04.2008Northern Rock: Treasury Committee Evidence
This note records Treasury Select Committee evidence sessions held at the time of the Northern Rock crisis.
19.02.2008Banking (Special Provisions) Bill
Banking (Special Provisions) Bill. (Bill 73 of 2007-08). House of Commons Library Research Paper 08/19.
01.02.2008Northern Rock & financial supervision
This note outlines the events surrounding the difficulties encountered by the Northern Rock bank in summer and autumn of 2007. It sets out the background to the Northern Rock crisis, including information on the 'credit crunch' and on the tripartite arrangements for financial supervision.
21.03.2007Financial Mutuals Arrangements Bill 2006-07
10.04.2002Social indicators
Social indicators. (Includes articles on Railways across Europe, Private medical insurance and Sources of election statistics). House of Commons Library Research Paper 02/22.
24.06.1999Financial Services and Markets Bill (Bill 121 1998/99)
Financial Services and Markets Bill. (Bill 121 of 1998/99). House of Commons Library Research Paper 99/68.
All Select Committee Reports
29 Select Committee Reports
27.01.2012A new approach to financial regulation: securing stability, protecting consumers, including Annexes containing...
Government response. Treasury report [Commons]
19.01.2012Accountability of the Bank of England: response from the Court of the Bank of England to the twenty-first...
Government response. Treasury Select Committee report [Commons]
29.11.2011Final report of the Independent Commission on Banking.
Economic Affairs Select Committee (HL) report [Lords]
19.10.2011Accountability of the Bank of England.
Treasury Select Committee report [Commons]
18.10.2011Draft Legislative Reform (Industrial and Provident Societies and Credit Unions) Order 2011:
Regulatory Reform Select Committee report [Commons]
19.07.2011Sovereign Credit Ratings: Shooting the Messenger?
European Union Select Committee (HL) report [Lords]
19.07.2011Independent Commission on Banking.
Treasury Select Committee report [Commons]
12.07.2011EU Financial Supervisory Framework.
European Union Select Committee (HL) report [Lords]
11.05.2011Maintaining the financial stability of the UK banks: update on the support scheme.
Public Accounts Committee report [Commons]
01.03.2011The cost of motor insurance.
Transport Select Committee report [Commons]
20.10.2010Equitable Life.
Government response. Treasury report [Commons]
14.10.2010Equitable Life.
Public Administration Select Committee report [Commons]
12.07.2010Banking in Scotland.
Government response. Scotland Office report [Commons]
12.07.2010Women in the City.
Government response. Treasury report [Commons]
23.03.2010The future regulation of derivatives markets: is the EU on the right track?
European Union Select Committee (HL) report [Lords]
22.03.2010Financial institutions - too important to fail?
Treasury Select Committee report [Commons]
22.03.2010Women in the City.
Treasury Select Committee report [Commons]
24.02.2010Banking in Scotland.
Scottish Affairs Select Committee report [Commons]
09.02.2010The failure of the Presbyterian Mutual Society.
Treasury Select Committee report [Commons]
02.02.2010Directive on Alternative Investment Fund Managers.
European Union Select Committee (HL) report [Lords]
01.02.2010Maintaining financial stability across the United Kingdom's banking system.Public
Public Accounts Committee report [Commons]
21.10.2009Credit unions in Scotland.
Government response. Scotland Office; Scottish Affairs Select Committee report [Commons]
14.10.2009Dunfermline Building Society.
Government response. Scotland Office; Scottish Affairs Select Committee report [Commons]
15.07.2009Dunfermline Building Society.
Scottish Affairs Select Committee report [Commons]
09.06.2009The future of EU financial regulation and supervision.
European Union Select Committee (HL) report [Lords]
01.06.2009The nationalisation of Northern Rock.
Public Accounts Committee report [Commons]
19.05.2009Banking supervision and regulation.
Economic Affairs Select Committee (HL) report [Lords]
06.05.2009Credit unions in Scotland.
Scottish Affairs Select Committee report [Commons]
09.12.2008EU legislative initiatives in response to the financial turmoil.
European Union Select Committee (HL) report [Lords]