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1051490
registered interest false more like this
date remove filter
answering body
Home Office more like this
answering dept id 1 more like this
answering dept short name Home Office more like this
answering dept sort name Home Office more like this
hansard heading Overseas Loans: Mozambique more like this
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Secretary of State for the Home Department, pursuant to the Answer of 28 January to Question 210062 on Loans: Mozambique, whether UK authorities plan to take action under the 2010 Bribery Act in relation to the allegations of K-based banks role in the $2 billion of loans to three state-owned companies in Mozambique. more like this
tabling member constituency Liverpool, Walton more like this
tabling member printed
Dan Carden remove filter
uin 214663 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2019-02-08more like thismore than 2019-02-08
answer text <p>As stated in the Answer of 28 January to Question 210062, the relevant UK authorities have considered the allegations against UK-based banks for undisclosed loans to three state owned enterprises in Mozambique and have offered assistance to Mozambique in relation to their investigations.</p><p>Any action to be taken pursuant to investigations, including under the 2010 Bribery Act, will be a matter for law enforcement authorities. The Government does not comment on law enforcement action for live investigations.</p> more like this
answering member constituency Wyre and Preston North more like this
answering member printed Mr Ben Wallace more like this
question first answered
less than 2019-02-08T12:10:23.327Zmore like thismore than 2019-02-08T12:10:23.327Z
answering member
1539
label Biography information for Mr Ben Wallace more like this
tabling member
4651
label Biography information for Dan Carden more like this
1051487
registered interest false more like this
date remove filter
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading Overseas Loans: Mozambique more like this
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, pursuant to the Answer of 28th January to Question 210062 on Loans: Mozambique, what information UK-based lenders to foreign governments have to disclose and to whom under UK prudential disclosure requirements. more like this
tabling member constituency Liverpool, Walton more like this
tabling member printed
Dan Carden remove filter
uin 214660 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2019-02-07more like thismore than 2019-02-07
answer text <p>UK-based lenders are subject to extensive prudential disclosure requirements under UK law, including for loans made to Governments. The Capital Requirements Regulation requires firms to disclose the geographic distribution of their credit exposures, including those to central banks and governments. These are only required to be disclosed if the loans are material, in accordance with European Banking Authority guidelines. Similarly, the geographical distribution will be broken down to show the areas for which there are material exposures. Lending to a specific country may not be disclosed specifically as lending to that country’s government if it makes up a relatively small amount of the firm’s activity. Instead, the lending would be grouped together with other small exposures to foreign governments under ‘other’ categories.</p><p> </p><p>It is firms’ responsibility to ensure adequate assurance over their disclosures and they are required to have policies for assessing the appropriateness of their disclosures, including their verification and frequency.</p><p> </p><p>Firms’ compliance with disclosure guidelines will generally be subject to review from their Internal Audit function. As the relevant competent authority, the Prudential Regulation Authority (PRA) takes a risk-based approach to supervision, which will affect whether each individual firm’s disclosures are subject to a compliance review.</p>
answering member constituency Salisbury more like this
answering member printed John Glen more like this
grouped question UIN
214661 more like this
214662 more like this
question first answered
less than 2019-02-07T15:43:14.847Zmore like thismore than 2019-02-07T15:43:14.847Z
answering member
4051
label Biography information for John Glen more like this
tabling member
4651
label Biography information for Dan Carden more like this
1051488
registered interest false more like this
date remove filter
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading Overseas Loans: Mozambique more like this
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, pursuant to the Answer of 28 January to Question 210062 on Loans: Mozambique, who conducts the independent assessment of compliance with those requirements; and where those assessments are published. more like this
tabling member constituency Liverpool, Walton more like this
tabling member printed
Dan Carden remove filter
uin 214661 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2019-02-07more like thismore than 2019-02-07
answer text <p>UK-based lenders are subject to extensive prudential disclosure requirements under UK law, including for loans made to Governments. The Capital Requirements Regulation requires firms to disclose the geographic distribution of their credit exposures, including those to central banks and governments. These are only required to be disclosed if the loans are material, in accordance with European Banking Authority guidelines. Similarly, the geographical distribution will be broken down to show the areas for which there are material exposures. Lending to a specific country may not be disclosed specifically as lending to that country’s government if it makes up a relatively small amount of the firm’s activity. Instead, the lending would be grouped together with other small exposures to foreign governments under ‘other’ categories.</p><p> </p><p>It is firms’ responsibility to ensure adequate assurance over their disclosures and they are required to have policies for assessing the appropriateness of their disclosures, including their verification and frequency.</p><p> </p><p>Firms’ compliance with disclosure guidelines will generally be subject to review from their Internal Audit function. As the relevant competent authority, the Prudential Regulation Authority (PRA) takes a risk-based approach to supervision, which will affect whether each individual firm’s disclosures are subject to a compliance review.</p>
answering member constituency Salisbury more like this
answering member printed John Glen more like this
grouped question UIN
214660 more like this
214662 more like this
question first answered
less than 2019-02-07T15:43:14.893Zmore like thismore than 2019-02-07T15:43:14.893Z
answering member
4051
label Biography information for John Glen more like this
tabling member
4651
label Biography information for Dan Carden more like this
1051489
registered interest false more like this
date remove filter
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading Overseas Loans: Mozambique more like this
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, pursuant to the Answer of 28 January to Question 210062 on Loans: Mozambique, whether those prudential disclosure requirements were complied with in the case of the $2 billion of loans from UK-based banks to three state owned companies in Mozambique. more like this
tabling member constituency Liverpool, Walton more like this
tabling member printed
Dan Carden remove filter
uin 214662 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2019-02-07more like thismore than 2019-02-07
answer text <p>UK-based lenders are subject to extensive prudential disclosure requirements under UK law, including for loans made to Governments. The Capital Requirements Regulation requires firms to disclose the geographic distribution of their credit exposures, including those to central banks and governments. These are only required to be disclosed if the loans are material, in accordance with European Banking Authority guidelines. Similarly, the geographical distribution will be broken down to show the areas for which there are material exposures. Lending to a specific country may not be disclosed specifically as lending to that country’s government if it makes up a relatively small amount of the firm’s activity. Instead, the lending would be grouped together with other small exposures to foreign governments under ‘other’ categories.</p><p> </p><p>It is firms’ responsibility to ensure adequate assurance over their disclosures and they are required to have policies for assessing the appropriateness of their disclosures, including their verification and frequency.</p><p> </p><p>Firms’ compliance with disclosure guidelines will generally be subject to review from their Internal Audit function. As the relevant competent authority, the Prudential Regulation Authority (PRA) takes a risk-based approach to supervision, which will affect whether each individual firm’s disclosures are subject to a compliance review.</p>
answering member constituency Salisbury more like this
answering member printed John Glen more like this
grouped question UIN
214660 more like this
214661 more like this
question first answered
less than 2019-02-07T15:43:14.94Zmore like thismore than 2019-02-07T15:43:14.94Z
answering member
4051
label Biography information for John Glen more like this
tabling member
4651
label Biography information for Dan Carden more like this