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1005688
star this property registered interest false more like this
star this property date remove maximum value filtermore like thismore than 2018-11-12
star this property answering body
Treasury remove filter
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Commercial Banks more like this
unstar this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, what assessment he has made of the progress of UK banks in ring-fencing retail services from investment banking. more like this
star this property tabling member constituency Brentford and Isleworth more like this
star this property tabling member printed
Ruth Cadbury more like this
star this property uin 190479 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer remove filter
star this property answer text <p>Under the 2012 Financial Services (Banking Reform) Act large UK banks with retail deposits totalling more than £25 billion are required to ring-fence the deposits of individuals and small businesses from other activities within their groups, such as investment and international banking.</p><p> </p><p>All banks within scope of the ring-fencing regime have successfully completed the necessary restructuring of their operations in advance of the regime coming into force in January 2019. This includes moving customers from one part of the bank to another, changing over a million sort codes and the joining of both UK and international payment systems to facilitate operational separation. The banks have also completed large technology migrations as part of the changes to their internal processes</p><p> </p><p>By insulating these core banking services in a separate legal entity, ring-fencing will support continuity of provision of vital services to the economy if there are shocks originating elsewhere in the group and the global financial system. It will also make banks that provide these essential services simpler and more resolvable and therefore prevent the costs of failing banks falling on taxpayers.</p>
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property question first answered
less than 2018-11-19T16:22:17.29Zmore like thismore than 2018-11-19T16:22:17.29Z
unstar this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
4389
unstar this property label Biography information for Ruth Cadbury more like this
1003843
star this property registered interest false more like this
star this property date less than 2018-11-09more like thismore than 2018-11-09
star this property answering body
Treasury remove filter
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Talk Money Week more like this
unstar this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, whether he plans to support Talk Money Week which takes place from 12 to 18 November as part of the Financial Capability Strategy for the UK. more like this
star this property tabling member constituency West Lancashire more like this
star this property tabling member printed
Rosie Cooper more like this
star this property uin 189641 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer remove filter
star this property answer text <p>HM Treasury works closely with the Money Advice (MAS), the main organisers of Talk Money Week, on debt advice, financial capability and financial education policy. The Government strongly supports Talk Money Week and I provided the keynote speech at the Talk Money Conference on 14<sup>th</sup> November.</p> more like this
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property question first answered
less than 2018-11-19T15:56:20.193Zmore like thismore than 2018-11-19T15:56:20.193Z
unstar this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
1538
unstar this property label Biography information for Rosie Cooper more like this
1005663
star this property registered interest false more like this
star this property date remove maximum value filtermore like thismore than 2018-11-12
star this property answering body
Treasury remove filter
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Banks: Iran more like this
unstar this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, what assessment he has made of the risk of liability to sanctions by the US of the Society for Worldwide Interbank Financial Telecommunication if it continues to process financial transactions from Iranian banks. more like this
star this property tabling member constituency Islington South and Finsbury more like this
star this property tabling member printed
Emily Thornberry more like this
star this property uin 190393 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer remove filter
star this property answer text <p>The UK fully implements UN, EU and UK domestic sanctions law.</p><p><strong> </strong></p><p>The re-imposition of the US sanctions against Iran may have commercial and legal implications for businesses and individuals dealing with Iran.</p><p><strong> </strong></p><p>It is a commercial decision for businesses, including the Society for Worldwide Interbank Financial Telecommunication, to decide on their own risk appetite and to take into account the costs of managing those risks.</p> more like this
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property question first answered
less than 2018-11-19T15:52:02.547Zmore like thismore than 2018-11-19T15:52:02.547Z
unstar this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
1536
unstar this property label Biography information for Emily Thornberry more like this
1003616
star this property registered interest false more like this
star this property date less than 2018-11-09more like thismore than 2018-11-09
star this property answering body
Treasury remove filter
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Financial Services: Climate Change more like this
unstar this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, what discussions he has had with the Governor of the Bank of England on managing the risk to the financial system posed by climate change. more like this
star this property tabling member constituency Hornsey and Wood Green more like this
star this property tabling member printed
Catherine West more like this
star this property uin 189774 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer remove filter
star this property answer text <p>Treasury Ministers have meetings with a variety of public and private organisations, including the Bank of England, as part of the process of policy development.</p><p> </p><p>Details of ministerial meetings with external organisations are published quarterly at: <a href="https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel" target="_blank">https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel</a></p><p> </p><p>Green Finance is an important area of collaboration with the Bank of England, and we welcome the Bank’s recent announcement to set out, for consultation, supervisory expectations for banks and insurers to consider climate risks in their approach.</p> more like this
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property grouped question UIN 189843 more like this
star this property question first answered
less than 2018-11-19T16:10:52.057Zmore like thismore than 2018-11-19T16:10:52.057Z
unstar this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
4523
unstar this property label Biography information for Catherine West more like this
1003617
star this property registered interest false more like this
star this property date less than 2018-11-09more like thismore than 2018-11-09
star this property answering body
Treasury remove filter
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Financial Services: Climate Change more like this
unstar this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, what discussions he has had with the Governor of the Bank of England on the effect of climate change on the Bank’s ability to preserve macroeconomic stability. more like this
star this property tabling member constituency Hornsey and Wood Green more like this
star this property tabling member printed
Catherine West more like this
star this property uin 189842 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer remove filter
star this property answer text <p>Treasury Ministers have meetings with a variety of public and private organisations, including the Bank of England, as part of the process of policy development.</p><p> </p><p>Details of ministerial meetings with external organisations are published quarterly at: <a href="https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel" target="_blank">https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel</a></p><p> </p><p>Green Finance is an important area of collaboration with the Bank of England, and we welcome the Bank’s recent announcement to set out, for consultation, supervisory expectations for banks and insurers to consider climate risks in their approach.</p> more like this
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property question first answered
less than 2018-11-19T16:00:52.237Zmore like thismore than 2018-11-19T16:00:52.237Z
unstar this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
4523
unstar this property label Biography information for Catherine West more like this
1003618
star this property registered interest false more like this
star this property date less than 2018-11-09more like thismore than 2018-11-09
star this property answering body
Treasury remove filter
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Financial Services: Climate Change more like this
unstar this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, what discussions he has had with the Governor of the Bank of England on the Bank’s role in mobilising finance for the low-carbon transition. more like this
star this property tabling member constituency Hornsey and Wood Green more like this
star this property tabling member printed
Catherine West more like this
star this property uin 189843 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer remove filter
star this property answer text <p>Treasury Ministers have meetings with a variety of public and private organisations, including the Bank of England, as part of the process of policy development.</p><p> </p><p>Details of ministerial meetings with external organisations are published quarterly at: <a href="https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel" target="_blank">https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel</a></p><p> </p><p>Green Finance is an important area of collaboration with the Bank of England, and we welcome the Bank’s recent announcement to set out, for consultation, supervisory expectations for banks and insurers to consider climate risks in their approach.</p> more like this
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property grouped question UIN 189774 more like this
star this property question first answered
less than 2018-11-19T16:10:51.983Zmore like thismore than 2018-11-19T16:10:51.983Z
unstar this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
4523
unstar this property label Biography information for Catherine West more like this
1002275
star this property registered interest false more like this
star this property date less than 2018-11-05more like thismore than 2018-11-05
star this property answering body
Treasury remove filter
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Exports more like this
unstar this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what assessment they have made of the report by the Office for Budget Responsibility, Economic and fiscal outlook, published in October, which anticipates exports falling as a share of the overall economy in the next five years. more like this
star this property tabling member printed
Lord Taylor of Warwick more like this
star this property uin HL11296 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer remove filter
star this property answer text <p>The Office for Budget Responsibility is independent of Ministers and any views published are their own.</p><p>Since November 2016, the OBR has not assumed any one particular outcome to EU exit negotiations but has based its forecasts on broad-brush assumptions regarding Brexit that are consistent with a range of possible outcomes, as well as judgements about the economy following the referendum.</p><p>In its October 2018 forecast, the OBR have included a two-year transition period. After this they assume leaving the EU will reduce trade intensity which affects both imports and exports with a broadly offsetting impact on net trade. In its latest forecast, the OBR also revised down its forecast for world trade growth, contributing to a downward revision in UK export market growth in the near term. These factors contribute to the decline in exports as a share of GDP.</p><p>Going forward, the Government will continue to provide support for UK exporters through the Department for International Trade by encouraging more businesses to export, providing information, advice and practical assistance on exporting, connecting UK businesses to overseas buyers, and putting finance at the heart of our offer through UK Export Finance.</p>
star this property answering member printed Lord Bates more like this
star this property question first answered
less than 2018-11-19T16:40:52.617Zmore like thismore than 2018-11-19T16:40:52.617Z
unstar this property answering member
1091
star this property label Biography information for Lord Bates more like this
star this property tabling member
1796
unstar this property label Biography information for Lord Taylor of Warwick more like this
1002211
star this property registered interest false more like this
star this property date less than 2018-11-05more like thismore than 2018-11-05
star this property answering body
Treasury remove filter
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Banks: Finance more like this
unstar this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what assessment they have made of the European Banking Authority's recent analysis of the strength of UK banks in adverse scenarios. more like this
star this property tabling member printed
Lord Birt more like this
star this property uin HL11232 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer remove filter
star this property answer text <p>The Government supports the use of stress tests as a tool to ensure the ongoing resilience of the European Union’s banking sector. Well capitalised banks, under a robust regulatory framework, are better able to lend to the economy, supporting jobs and growth. A full response to the European Banking Authority’s (EBA) report has been published by the Bank of England (BoE). The BoE noted that the results of the latest EBA test confirmed the results of earlier BoE stress tests that the participating UK banks would be resilient to a severe economic and market stress. The BoE will publish the results for its next annual stress tests on 5 December.</p> more like this
star this property answering member printed Lord Bates more like this
star this property question first answered
less than 2018-11-19T16:22:02.377Zmore like thismore than 2018-11-19T16:22:02.377Z
unstar this property answering member
1091
star this property label Biography information for Lord Bates more like this
star this property tabling member
2533
unstar this property label Biography information for Lord Birt more like this
1002260
star this property registered interest false more like this
star this property date less than 2018-11-05more like thismore than 2018-11-05
star this property answering body
Treasury remove filter
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Burma: Freezing of Assets more like this
unstar this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what is the value of the assets seized in the (1) UK, and (2) rest of the EU from the seven military and security personnel from Burma sanctioned by the EU on 25 June. more like this
star this property tabling member printed
Baroness Nye more like this
star this property uin HL11281 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer remove filter
star this property answer text <p>Her Majesty’s Treasury (HMT) is not responsible for the freezing of assets, neither does it hold them. The Office of Financial Sanctions Implementation (OFSI), which is part of HMT, ensures that financial sanctions are properly understood and implemented in the UK and it is for holders of assets subject to sanctions to ensure that they are frozen under the regulations.</p><p> </p><p>(1) OFSI undertakes an Annual Review of frozen assets in the UK, requiring all persons or institutions that hold or control frozen assets in the UK to report to OFSI. Details of assets reported to OFSI for the 2018 Review are still being compiled and are not yet available.</p><p> </p><p>(2) HM Treasury does not hold this information.</p> more like this
star this property answering member printed Lord Bates more like this
star this property question first answered
less than 2018-11-19T16:09:44.213Zmore like thismore than 2018-11-19T16:09:44.213Z
unstar this property answering member
1091
star this property label Biography information for Lord Bates more like this
star this property tabling member
4180
unstar this property label Biography information for Baroness Nye more like this
1002478
star this property registered interest false more like this
star this property date less than 2018-11-06more like thismore than 2018-11-06
star this property answering body
Treasury remove filter
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Higher Education: Pensions more like this
unstar this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what plans, if any, they have to provide an estimate of the cumulative financial impact on the higher education sector as a result of the actuarial valuation changes to the (1) Teachers' Pension Scheme, (2) Local Government Pension Scheme, and (3) NHS Pension Scheme. more like this
star this property tabling member printed
Baroness Garden of Frognal more like this
star this property uin HL11319 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer remove filter
star this property answer text <p>The quadrennial valuations of public service pension schemes are ongoing. Precise financial impacts will not be known until the valuations are finalised.</p> more like this
star this property answering member printed Lord Bates more like this
star this property question first answered
less than 2018-11-19T16:25:21.16Zmore like thismore than 2018-11-19T16:25:21.16Z
unstar this property answering member
1091
star this property label Biography information for Lord Bates more like this
star this property tabling member
3842
unstar this property label Biography information for Baroness Garden of Frognal more like this