§ Mr. Nelson
asked the Chancellor of the Exchequer whether the Bank of 194W England in its prudential supervision of the banking system obtains details of the amount of loss resulting from the fraudulent use of and bad debts on credit cards incurred by commercial banks.
§ Mr. Lawson
The Bank of England monitors and receives information on banks' bad debts including those arising from the use of credit cards. This information is confidential between the Bank and the reporting banks as is provided for under section 19 of the Banking Act 1979. Such bad debts, although not separately identified, are reflected in the banks' published accounts.