Contributions
824 recent contributions in Hansard
HANSARDBank Resolution (Recapitalisation) Bill [HL]My Lords, I added my name to the amendment but I am glad that the noble Lord, Lord Vaux, will not be pressing it because, as he explained, there are difficulties with it. I pay…04 Nov 2024HANSARDBank Resolution (Recapitalisation) Bill [HL]My Lords, I add my support to my noble friend’s amendment. If the power were used on a bank that had already achieved the MREL set for it, that use of the mechanism would raise…04 Nov 2024HANSARDPublic Sector ProductivityMy Lords, I join other noble Lords in congratulating my noble friend Lady Neville-Rolfe on securing this debate and for her masterly introduction. Public sector productivity, or…09 Oct 2024HANSARDHouse of Lords Conduct Committee: Code of Conduct ReviewMy Lords, it is a pleasure to follow the noble Lord, Lord Skidelsky. Unfortunately, he has stolen some of my thunder, as I was going to go through some of the history of the…08 Oct 2024HANSARDHouse of Lords Conduct Committee: Code of Conduct ReviewI accept that point. The choice of the Government to put the debate in this Room may well have affected the willingness of noble Lords to take part, because putting it here…08 Oct 2024HANSARDBank Resolution (Recapitalisation) Bill [HL]The Minister just referred to an “implicit requirement” in the Act. Does he believe that Section 5 can be interpreted only as requiring the code of practice to include matters…10 Sept 2024HANSARDBank Resolution (Recapitalisation) Bill [HL]10 Sept 2024HANSARDBank Resolution (Recapitalisation) Bill [HL]My Lords, I thank noble Lords for supporting the principle behind my amendment, even if they did not fully align with the mechanism that I have chosen. We have had a useful debate…10 Sept 2024HANSARDBank Resolution (Recapitalisation) Bill [HL]I support the amendment that the noble Lord, Lord Vaux, has put forward, and in particular the request for worked examples, preferably with numbers in, because the noble Lord,…10 Sept 2024HANSARDBank Resolution (Recapitalisation) Bill [HL]My Lords, this amendment would insert a new special resolution objective into Section 4 of the Banking Act 2009. That objective is to ensure that the costs of using the…10 Sept 2024HANSARDBank Resolution (Recapitalisation) Bill [HL]My Lords, I will be brief. The noble Baroness raises some important issues in her amendment. I think the Minister confirmed earlier that shareholders would disappear because the…10 Sept 2024HANSARDBank Resolution (Recapitalisation) Bill [HL]Can I just clarify what happens when the FSCS has gone to the Treasury, because there does not appear to be a limit on the amount of money that it could draw down to meet its…10 Sept 2024HANSARDBank Resolution (Recapitalisation) Bill [HL]10 Sept 2024HANSARDBank Resolution (Recapitalisation) Bill [HL]I thank noble Lords for taking part in this short debate. There were three parts. First, Section 5 of the 2009 Act needs to mention the bank recapitalisation power, which is what…10 Sept 2024HANSARDBank Resolution (Recapitalisation) Bill [HL]Amendment 21 would amend the Banking Act 2009 so that the code of practice, which has to be issued for various aspects of the special resolution regime, must cover the use of the…10 Sept 2024HANSARDBank Resolution (Recapitalisation) Bill [HL]I am very glad that the Minister has said that. First, I thank my fellow members of the Financial Services Regulation Committee for their support on this amendment—I was never in…10 Sept 2024HANSARDBank Resolution (Recapitalisation) Bill [HL]10 Sept 2024HANSARDBank Resolution (Recapitalisation) Bill [HL]Just to clarify something with the Minister, I understand that the resolution instruments are notified to the Treasury and laid before Parliament but they, of course, do not refer…10 Sept 2024HANSARDBank Resolution (Recapitalisation) Bill [HL]My Lords, Amendment 15 would add a new section to FSMA. This would create a requirement for the Bank of England to notify the Treasury Select Committee in the other place and the…10 Sept 2024HANSARDBudget Responsibility BillMy Lords, I have a number of regrets about the Bill. My first regret is that it is a money Bill. It is customary that this House does not challenge the decision of the Speaker in…09 Sept 2024