§ Mr. MaudeTo ask the Chancellor of the Exchequer if he will list the(a) number and (b) total value in sterling of (i) secured and (ii) unsecured loans made by the Bank of England during the last two years; and if he will make a statement on the Bank's status as lender of last resort. [88919]
§ Ms HewittThe Bank makes loans in the normal course of its operations and these are described in its 1999 Annual Report. In its capacity as lender of last resort, the Bank of England has made no new loans, either secured or unsecured, over the last two years.
The Bank's role in the field of financial stability is described in a Memorandum of Understanding between HM Treasury, the Bank and the Financial Services Authority, which was published in October 1997.