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1122540
star this property registered interest false more like this
star this property date less than 2019-04-23more like thismore than 2019-04-23
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
unstar 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 Credit Unions remove filter
star 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 representations he has received on changing credit union capital requirements; and if he will make a statement. more like this
star this property tabling member constituency Glasgow South West more like this
star this property tabling member printed
Chris Stephens more like this
star this property uin 246543 remove filter
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-04-29more like thismore than 2019-04-29
star this property answer text <p>Representatives from credit unions have raised issues with me related to capital requirements, most recently when I spoke at the Association of British Credit Unions Ltd (ABCUL) conference in March 2019. Capital requirements for credit unions are set by the Prudential Regulation Authority (PRA), in line with their mandate to promote the safety and soundness of firms.</p><p> </p><p>The PRA is independent from government and is responsible for ensuring the credit union sector is effectively regulated and financially stable.</p><p> </p><p>The government remains committed to supporting credit unions, which provide vital services to financially under-served communities and contribute to the diversity of the UK’s financial services sector. Credit union membership and assets continue to grow, with membership passing 2 million for the first time in 2018 and total assets growing to over £3.3 billion.</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
246542 more like this
246544 more like this
star this property question first answered
less than 2019-04-29T14:19:31.207Zmore like thismore than 2019-04-29T14:19:31.207Z
star this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
4463
star this property label Biography information for Chris Stephens more like this