Financial institutions

This page highlights some of the current parliamentary material available on financial institutions. This includes select committee reports, briefing papers on current legislation and other subjects produced by the parliamentary research services, and the latest Early Day Motions put down by MPs. For the services provided by these institutions, see financial services.

Standard Notes

DateDescription
12.06.2014Motor 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.
15.04.2014Payment Services 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.
24.03.2014Big Society Bank
This note sets out the known facts surrounding the establishment of the Big Society Bank/ Big Society Capital
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.
30.01.2014European banking union
This note brings together the main documents and developments regarding the European Community's attempts to create a more pan-Community supervisory and recovery mechanism for members' banking sectors. Significant new measures were approved of in December 2013.

Research Papers

DateDescription
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.
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.
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

Select Committee Reports

DateDescription
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]

Early Day Motions

DateDescription
20.12.2011UK UNCUT LEGAL ACTION
That this House supports UK Uncut Legal Action's initiative to challenge HM Revenue and Customs in the High Court so thatits alleged decision to let Goldman Sachs off its unpaid tax ...
14.12.2011FINANCIAL TRANSACTION TAX (No. 3)
That this House notes that the European Commission is desperate to save the Euro and is proposing a tax on financial transactions that would raise 50 billion a year; further notes that ...
01.12.2011GENERAL ANTI-AVOIDANCE RULE FOR TAXATION
That this House notes the widespread public concern about the extent of tax avoidance and evasion by individuals and corporations; further notes that while evasion is illegal, taxes ...
21.11.2011LEVEL OF INTEREST RATES ON LOANS
That this House notes that wonga.com is currently advertising a typical interest rate of 4214 per cent. and that this is not the only institution offering a similar service; further ...
07.11.2011BANK OF ENGLAND INFLATION POLICY
That this House notes the rising prices of resource commodities such as energy and food which have frustrated Bank of England inflation targeting and wider price stability; further ...

Lords Library Notes

DateDescription
19.07.2013Financial Services (Banking Reform) Bill
The Financial Services (Banking Reform) Bill seeks to make a number of changes to the banking and financial services sector. The Bill builds on the recommendations of the Independent Commission on Banking (the Vickers Commission) and the Parliamentary Commission on Banking Standards and follows a series of Acts passed since the financial crisis of 2008, such as the Financial Services Act 2012.
09.11.2012Enterprise and Regulatory Reform Bill (HL Bill 45 of 2012-13)
The Enterprise and Regulatory Reform Bill includes measures for changes to competition policy, to employment law, and for reducing regulation, as well as provisions on the Green Investment Bank, directors' remuneration, copyright and planning. This Library Note provides background reading in advance of the Bill's second reading in the House of Lords.

Glossary

  • Research Papers (RP) - briefings produced by the House of Commons Library on Bills, topical issues and regular statistics
  • Standard Notes (SN) - shorter, topical briefings from the Commons Library
  • Early Day Motions (EDMs) - formal motions submitted by MPs in the House of Commons
  • POST Notes - short briefing notes produced by the Parliamentary Office of Science and Technology
  • Lords Library Notes (LLN) - papers compiled by the House of Lords Library on Bills and for debates in the Lords
  • Select Committee Reports - papers produced by all select committees of both Houses