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418398
registered interest false more like this
date less than 2015-09-11more like thismore than 2015-09-11
answering body
HM Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name CaTreasury more like this
hansard heading Financial Services: Compensation more like this
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask Mr Chancellor of the Exchequer, what discussions he has had with his EU counterparts and the European Commission on retaining the level of UK bank deposit guarantees at £85,000; and what estimate he has made of the level of funds set aside for such guarantees in (a) 2015 and (b) 2016. more like this
tabling member constituency Bury North more like this
tabling member printed
Mr David Nuttall more like this
uin 10016 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2015-09-16more like thismore than 2015-09-16
answer text <p>As with any new EU legislation, HM Treasury engaged in discussions with the European Commission and other EU member states during the negotiation of the Deposit Guarantee Schemes Directive, and following its adoption in order to manage the transposition effectively. HM Treasury laid a statutory instrument to ensure that UK depositors would not be exposed to a sudden reduction in the level of protection to which they are entitled from the Financial Services Compensation Scheme (FSCS).</p><p> </p><p> </p><p> </p><p>FSCS compensation is funded by levies on regulated financial services firms, within a limit which is set by the Financial Conduct Authority and Prudential Regulation Authority.</p><p> </p> more like this
answering member constituency West Worcestershire more like this
answering member printed Harriett Baldwin more like this
question first answered
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answering member
4107
label Biography information for Dame Harriett Baldwin more like this
tabling member
4140
label Biography information for Mr David Nuttall more like this