{ "format" : "linked-data-api", "version" : "0.2", "result" : {"_about" : "http://eldaddp.azurewebsites.net/answeredquestions.text?tablingMember.label=Biography+information+for+Cathy+Jamieson&max-date=2014-11-25&max-answer.dateOfAnswer=2014-06-23&max-answer.questionFirstAnswered.=2014-06-25T13%3A54%3A48.657919Z", "definition" : "http://eldaddp.azurewebsites.net/meta/answeredquestions.text?tablingMember.label=Biography+information+for+Cathy+Jamieson&max-date=2014-11-25&max-answer.dateOfAnswer=2014-06-23&max-answer.questionFirstAnswered.=2014-06-25T13%3A54%3A48.657919Z", "extendedMetadataVersion" : "http://eldaddp.azurewebsites.net/answeredquestions.text?tablingMember.label=Biography+information+for+Cathy+Jamieson&max-date=2014-11-25&_metadata=all&max-answer.dateOfAnswer=2014-06-23&max-answer.questionFirstAnswered.=2014-06-25T13%3A54%3A48.657919Z", "first" : "http://eldaddp.azurewebsites.net/answeredquestions.text?tablingMember.label=Biography+information+for+Cathy+Jamieson&_page=0&max-date=2014-11-25&max-answer.dateOfAnswer=2014-06-23&max-answer.questionFirstAnswered.=2014-06-25T13%3A54%3A48.657919Z", "hasPart" : "http://eldaddp.azurewebsites.net/answeredquestions.text?tablingMember.label=Biography+information+for+Cathy+Jamieson&max-date=2014-11-25&max-answer.dateOfAnswer=2014-06-23&max-answer.questionFirstAnswered.=2014-06-25T13%3A54%3A48.657919Z", "isPartOf" : "http://eldaddp.azurewebsites.net/answeredquestions.text?tablingMember.label=Biography+information+for+Cathy+Jamieson&max-date=2014-11-25&max-answer.dateOfAnswer=2014-06-23&max-answer.questionFirstAnswered.=2014-06-25T13%3A54%3A48.657919Z", "items" : [{"_about" : "http://data.parliament.uk/resources/62761", "AnsweringBody" : [{"_value" : "Department for Work and Pensions"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/62761/answer", "answerText" : {"_value" : "
We are committed to completing Work Capability Assessments as quickly as possible so that eligible claimants receive the appropriate rate of benefit.<\/p>
However it is important to get assessments right rather than setting an artificial timescale for completion. We are working with the existing supplier to improve processing times and reduce waiting times. In addition, we are seeking a replacement supplier to undertake Work Capability Assessments.<\/p>
<\/p>
In the meantime we continue to rigorously monitor and manage the existing contract to ensure that both quality and performance are maintained as part of our drive to improve the quality of decision making and process claims more quickly.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/1528", "label" : {"_value" : "Biography information for Sir Mike Penning"} } , "answeringMemberConstituency" : {"_value" : "Hemel Hempstead"} , "answeringMemberPrinted" : {"_value" : "Mike Penning"} , "dateOfAnswer" : {"_value" : "2014-06-23", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2014-06-23T15:05:01.7939402Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "29"} , "answeringDeptShortName" : {"_value" : "Work and Pensions"} , "answeringDeptSortName" : {"_value" : "Work and Pensions"} , "date" : {"_value" : "2014-06-18", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Employment and Support Allowance: Work Capability Assessment"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Secretary of State for Work and Pensions, pursuant to the Answer of 11 June 2014, Official Report, column 176W, on work capability assessment, if he will make it his policy to set a target timescale for employment and support allowance and incapacity benefit reassessment work capability assessments in order to monitor and reduce the waiting times for those assessments.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4011", "label" : {"_value" : "Biography information for Cathy Jamieson"} } , "tablingMemberConstituency" : {"_value" : "Kilmarnock and Loudoun"} , "tablingMemberPrinted" : [{"_value" : "Cathy Jamieson"} ], "uin" : "201308"} , {"_about" : "http://data.parliament.uk/resources/62206", "AnsweringBody" : [{"_value" : "HM Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/62206/answer", "answerText" : {"_value" : "
When appropriately conducted, shadow banking can benefit the economy by increasing the availability of credit to a range of individuals or firms, and provide a valuable alternative to bank funding. It provides credit and liquidity to the real economy and can improve efficiency and drive innovation in the financial system through firms developing expert knowledge in a particular area.<\/p>
<\/p>
However, the Government is aware of the risks shadow banking activities pose to financial stability when things go wrong. The crisis showed that some shadow banking entities created pro-cyclical build-ups of leverage, did not fully transfer credit risk, were susceptible to rapid sell-offs, and were very complex. It also became clear that the shadow banking sector had very complex interconnections with the traditional banking system.<\/p>
<\/p>
Recognising the need to improve the transparency and supervision of the shadow banking sector, the Government has taken steps to improve the way shadow banking entities are regulated.<\/p>
<\/p>
Domestically, the Government has created new Financial Policy Committee (FPC) within the Bank of England to ensure emerging risks and vulnerabilities across the financial system as a whole are identified, monitored and effectively addressed. In September last year, the Committee agreed as one of its medium term priorities the identification and management of potential systemic risks from shadow banking.<\/p>
<\/p>
<\/p>
At the international level, the Government is actively supporting the effective regulation of the sector in EU policymaking, and the UK is instrumental in shaping the global regulatory response at the Financial Stability Board.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4117", "label" : {"_value" : "Biography information for Andrea Leadsom"} } , "answeringMemberConstituency" : {"_value" : "South Northamptonshire"} , "answeringMemberPrinted" : {"_value" : "Andrea Leadsom"} , "dateOfAnswer" : {"_value" : "2014-06-23", "_datatype" : "dateTime"} , "groupedQuestionUIN" : [{"_value" : "200643"} , {"_value" : "200644"} ], "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2014-06-23T15:19:45.1917264Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "CaTreasury"} , "date" : {"_value" : "2014-06-17", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Financial Services"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask Mr Chancellor of the Exchequer, what steps he is taking to improve regulation of the shadow banking sector.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4011", "label" : {"_value" : "Biography information for Cathy Jamieson"} } , "tablingMemberConstituency" : {"_value" : "Kilmarnock and Loudoun"} , "tablingMemberPrinted" : [{"_value" : "Cathy Jamieson"} ], "uin" : "200642"} , {"_about" : "http://data.parliament.uk/resources/62207", "AnsweringBody" : [{"_value" : "HM Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/62207/answer", "answerText" : {"_value" : "
When appropriately conducted, shadow banking can benefit the economy by increasing the availability of credit to a range of individuals or firms, and provide a valuable alternative to bank funding. It provides credit and liquidity to the real economy and can improve efficiency and drive innovation in the financial system through firms developing expert knowledge in a particular area.<\/p>
<\/p>
However, the Government is aware of the risks shadow banking activities pose to financial stability when things go wrong. The crisis showed that some shadow banking entities created pro-cyclical build-ups of leverage, did not fully transfer credit risk, were susceptible to rapid sell-offs, and were very complex. It also became clear that the shadow banking sector had very complex interconnections with the traditional banking system.<\/p>
<\/p>
Recognising the need to improve the transparency and supervision of the shadow banking sector, the Government has taken steps to improve the way shadow banking entities are regulated.<\/p>
<\/p>
Domestically, the Government has created new Financial Policy Committee (FPC) within the Bank of England to ensure emerging risks and vulnerabilities across the financial system as a whole are identified, monitored and effectively addressed. In September last year, the Committee agreed as one of its medium term priorities the identification and management of potential systemic risks from shadow banking.<\/p>
<\/p>
<\/p>
At the international level, the Government is actively supporting the effective regulation of the sector in EU policymaking, and the UK is instrumental in shaping the global regulatory response at the Financial Stability Board.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4117", "label" : {"_value" : "Biography information for Andrea Leadsom"} } , "answeringMemberConstituency" : {"_value" : "South Northamptonshire"} , "answeringMemberPrinted" : {"_value" : "Andrea Leadsom"} , "dateOfAnswer" : {"_value" : "2014-06-23", "_datatype" : "dateTime"} , "groupedQuestionUIN" : [{"_value" : "200642"} , {"_value" : "200644"} ], "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2014-06-23T15:19:45.2707068Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "CaTreasury"} , "date" : {"_value" : "2014-06-17", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Financial Services"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask Mr Chancellor of the Exchequer, what assessment he has made of the effects of the shadow banking sector on the UK economy.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4011", "label" : {"_value" : "Biography information for Cathy Jamieson"} } , "tablingMemberConstituency" : {"_value" : "Kilmarnock and Loudoun"} , "tablingMemberPrinted" : [{"_value" : "Cathy Jamieson"} ], "uin" : "200643"} , {"_about" : "http://data.parliament.uk/resources/62208", "AnsweringBody" : [{"_value" : "HM Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/62208/answer", "answerText" : {"_value" : "
When appropriately conducted, shadow banking can benefit the economy by increasing the availability of credit to a range of individuals or firms, and provide a valuable alternative to bank funding. It provides credit and liquidity to the real economy and can improve efficiency and drive innovation in the financial system through firms developing expert knowledge in a particular area.<\/p>
<\/p>
However, the Government is aware of the risks shadow banking activities pose to financial stability when things go wrong. The crisis showed that some shadow banking entities created pro-cyclical build-ups of leverage, did not fully transfer credit risk, were susceptible to rapid sell-offs, and were very complex. It also became clear that the shadow banking sector had very complex interconnections with the traditional banking system.<\/p>
<\/p>
Recognising the need to improve the transparency and supervision of the shadow banking sector, the Government has taken steps to improve the way shadow banking entities are regulated.<\/p>
<\/p>
Domestically, the Government has created new Financial Policy Committee (FPC) within the Bank of England to ensure emerging risks and vulnerabilities across the financial system as a whole are identified, monitored and effectively addressed. In September last year, the Committee agreed as one of its medium term priorities the identification and management of potential systemic risks from shadow banking.<\/p>
<\/p>
<\/p>
At the international level, the Government is actively supporting the effective regulation of the sector in EU policymaking, and the UK is instrumental in shaping the global regulatory response at the Financial Stability Board.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4117", "label" : {"_value" : "Biography information for Andrea Leadsom"} } , "answeringMemberConstituency" : {"_value" : "South Northamptonshire"} , "answeringMemberPrinted" : {"_value" : "Andrea Leadsom"} , "dateOfAnswer" : {"_value" : "2014-06-23", "_datatype" : "dateTime"} , "groupedQuestionUIN" : [{"_value" : "200642"} , {"_value" : "200643"} ], "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2014-06-23T15:19:45.4275036Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "CaTreasury"} , "date" : {"_value" : "2014-06-17", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Financial Services"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask Mr Chancellor of the Exchequer, what steps his Department is taking to ensure the stability of the shadow banking sector.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4011", "label" : {"_value" : "Biography information for Cathy Jamieson"} } , "tablingMemberConstituency" : {"_value" : "Kilmarnock and Loudoun"} , "tablingMemberPrinted" : [{"_value" : "Cathy Jamieson"} ], "uin" : "200644"} , {"_about" : "http://data.parliament.uk/resources/62214", "AnsweringBody" : [{"_value" : "HM Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/62214/answer", "answerText" : {"_value" : "
The Government has consistently taken action to improve regulation of financial markets since 2010.<\/p>
<\/p>
The Government put in place a new architecture for financial regulation through the Financial Services Act 2012, with the aim of delivering stability, protecting consumers and enhancing the integrity of financial markets. The Financial Policy Committee in the Bank of England is responsible for protecting and enhancing financial stability, while the Prudential Regulation Authority<\/a> is responsible for the prudential regulation of deposit-takers, insurers and certain investment firms. The Financial Conduct Authority<\/a> is responsible for protecting consumers, promoting competition, and enhancing integrity in markets.<\/p> <\/p> <\/p>