§ Mr. Frank Allaunasked the Secretary of State for the Environment if he will bring forward legislation to compel building societies to disclose their deposits and mortgages by geographical area if petitioned to do so by 25 or more depositors, along the lines of the recent directive by the Massachusetts Bank Commissioner.
§ Mr. ArmstrongI am concerned that a reasonable amount of building society lending should be made in each locality.614W I believe that the liaison arrangements between societies and local autthorities, which we shall be developing this year, are helping to ensure that particular places receive adequate mortgage provisions, especially in relation to older property. I shall watch the situation carefully, and meanwhile I am grateful to my hon. Friend for drawing the U.S. provision to my attention.