Treasury Committee makes further proposals to protect depositors and enhance financial stability

Report | Press Notice  | Response

In a report published 16 September, the Treasury Committee sets out its proposals in the light of the recent consultation papers on financial stability published by the Tripartite Authorities.

The Report, Banking Reform, makes a series of recommendations in areas such as depositor protection, the proposed Financial Stability Committee of the Bank of England, and the work undertaken by the Financial Services Authority in relation to potentially failing financial institutions.

Oral evidence

The Treasury Committee held the following oral evidence sessions in connection with this inquiry:

Wednesday 16 July

Witnesses: Sir John Parker, Chairman and Dr David Potter CBE, Deputy Chairman, Non-Executive Directors of the Court of the Bank of England; and Dr Thomas Huertas, Director, Banking Sector, Andrew Whittaker, General Counsel, Financial Services Authority, and Alex Kuczynski, General Counsel, Financial Services Compensation Scheme.

Tuesday 22 July

Witnesses: Mr Mervyn King, Governor, Sir John Gieve, Deputy Governor for Financial Stability, Mr Nigel Jenkinson, Executive Director, Financial Stability, and Mr Andrew Bailey, Executive Director, Banking Services, and Chief Cashier, Bank of England; and Kitty Ussher MP, Economic Secretary to the Treasury, Mr Clive Maxwell, Director Financial Services, and Mr Emil Levendoğlu, Head of Banking Reform, HM Treasury