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89958

	registered interest
	date	01/09/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Cooperatives
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government whether they consider that the Financial Conduct Authority’s responsibilities for the oversight of cooperative societies are sufficient to protect the interests of members and creditors.
	tabling member printed	Lord Myners
	uin	HL1800
	answer	answer is ministerial correction date of answer 22/09/2014 answer text <p>The Financial Conduct Authority acts as the registrar for cooperative societies; it has no regulatory function in respect of cooperative societies where they are not authorised firms. The Government considers that this role is appropriate. The FCA was given additional powers in relation to this role in April 2014.</p> answering member printed Lord Deighton grouped question UIN HL1801 question first answered 22/09/2014 13:10:10 answering member 4262 label Biography information for Lord Deighton
	tabling member	3869 label Biography information for Lord Myners

89959

	registered interest
	date	01/09/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Cooperatives
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government when they last reviewed the responsibilities and authorities of the Financial Conduct Authority to regulate cooperative societies.
	tabling member printed	Lord Myners
	uin	HL1801
	answer	answer is ministerial correction date of answer 22/09/2014 answer text <p>The Financial Conduct Authority acts as the registrar for cooperative societies; it has no regulatory function in respect of cooperative societies where they are not authorised firms. The Government considers that this role is appropriate. The FCA was given additional powers in relation to this role in April 2014.</p> answering member printed Lord Deighton grouped question UIN HL1800 question first answered 22/09/2014 13:10:08 answering member 4262 label Biography information for Lord Deighton
	tabling member	3869 label Biography information for Lord Myners

89960

	registered interest
	date	01/09/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Monetary Policy
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government whether they have ruled out cancelling the gilt-edged securities bought by the Bank of England under the quantitative easing policy.
	tabling member printed	Lord Myners
	uin	HL1802
	answer	answer is ministerial correction date of answer 15/09/2014 answer text <p>The independent Monetary Policy Committee (MPC) of the Bank of England has operational independence for monetary policy. The MPC makes decisions on its policy tools, including quantitative easing (QE), in order to meet the 2% inflation target in the medium term.</p><p> </p><p> </p><p>The separation of fiscal and monetary policy is a key feature of the UK’s economic policy framework. To use monetary policy tools to meet fiscal objectives, such as financing government borrowing, could conflict with the MPC’s objective of price stability and undermine confidence in the monetary policy framework. Additionally, Government borrowing from the central bank is illegal under Article 123 of the Treaty on the Functioning of the European Union.</p> answering member printed Lord Deighton question first answered 15/09/2014 09:46:38 answering member 4262 label Biography information for Lord Deighton
	tabling member	3869 label Biography information for Lord Myners