Treasury - Seventeenth Report
Here you can browse the report together with the Proceedings of the Committee. The published report was ordered by the House of Commons to be printed 11 September 2008.
Contents
Terms of Reference
Summary
1 Introduction
Our inquiry and the consultation processes
The purposes of our Report
2 The case for change
The case for new legislation
The evolution of policy and the timing of
new legislation
Practical failings and practical challenges
3 Avoiding the "nuclear" options
Preventing the need for the use of the
Special Resolution Regime
The work of the Financial Services Authority
The Financial Services Authority's use of
its existing powers
Heightened supervision
Disclosure
4 Pulling the trigger
The independence of the FSA from the Government
The Bank of England and the trigger
Announcing the decision
Use of a Special Drawing Facility
5 The "nuclear" options
The framework for the Special Resolution
Regime
The roles of the Tripartite authorities
The role of the Financial Services Compensation
Scheme and funding issues
The stabilisation options
The bank insolvency procedure
Abridgement of property rights
Conclusions
6 Deposit protection
Compensation limit
Speed of payout
Data requirements
Payments per bank or per brand
Net or gross payments
Funding the FSCS
Coverage of European Economic Area banks
Scottish and Northern Irish banknotes
7 Strengthening the Bank of England
The proposed functions and powers of the
Bank of England
The Financial Stability Committee
Reforming the Court of the Bank of England
Objectives and remit for financial stability
Independence
8 The role of the Treasury and the Tripartite
arrangements
Revision of the Memorandum of Understanding
Depositor protection and the Tripartite arrangements
The role of the Treasury
The Tripartite Standing Committee and Tripartite
coordination
Accountability
Conclusions and recommendations
Formal Minutes
Witnesses
List of written evidence
List of Reports from the Treasury Committee during the current Parliament
Oral and Written Evidence
Wednesday 16 July 2008
Tuesday 22 July 2008
Written evidence
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