HC Deb 18 January 1988 vol 125 c470W
Mr. Chris Smith

To ask the Chancellor of the Exchequer what information he has received to date from the European Commission as to European Community proposals for cross-border banking activities and securities business; what the response of Her Majesty's Government has been; and if he will make a statement.

Mr. Lilley

I understand that the European Commission has adopted a proposal for a directive on banking to put to the Council of Ministers. The directive deals with the conditions on which a bank authorised in one member state would be able to set up in or provide a range of core banking services into another member state on the strength of its home country authorisation. There have been preliminary discussions in a Commission working group, which the United Kingdom attended, but we have not yet seen the final proposals. They will be put before Parliament in the normal way.

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