The House of Lords EU Sub-Committee on Economic and Financial Affairs will hold a second evidence session on the issue of shadow banking, the parallel world of unregulated banking activity.
The EU Commission estimates that in 2011 shadow banking assets amounted to nearly £5bn in the UK. On Tuesday 11 March the Committee will scrutinize in further detail the scale, benefits and drawbacks of this off-the-books banking sector.
The Lords Committee will be asking Matthew Fell, Director of Competitive Markets at the CBI, about the Confederation’s view on shadow banking and how it should be reformed, if at all.
Other questions he will face include:
Is shadow banking a pejorative term?
Does the CBI view shadow banking as good or bad?
Does it pose any risks to conventional, regulated banking structures?
What approach would you wish to see UK authorities take to the shadow banking sector?
What approach would you wish to see EU authorities take to the shadow banking sector?
Is there any danger that regulation of the sector could prevent it being an alternative financing channel for the real economy?
Has the CBI worked with HM Treasury on any potential reforms of shadow banking?
The evidence session, the second of two on this subject, will start at 11.00am on Tuesday 11 March in Committee Room 3 of the House of Lords.
The session will be webcast at www.parliamentlive.tv and is also open to the public. Journalists wishing to attend should go to Parliament’s Cromwell Green Entrance and should allow time for security screening.