§ Mr. Eadieasked the Chancellor of the Exchequer whether he has yet completed 604W his investigation into speculation by city banks in this country during early May; and what steps he now proposes to take.
§ Mr. Roy JenkinsThorough investigation of foreign exchange dealings of all authorised banks during early May revealed some irregularities in control by a small number of banks. There is no evidence of speculation against sterling, and the amounts involved were small in relation to the general scale of foreign exchange dealings at the time. Steps are being taken to ensure that such irregularities will not be repeated.