HC Deb 05 June 1992 vol 208 c651W
Mr. Vaz

To ask the Chancellor of the Exchequer how many payments have been made by the Deposit Protection Board to depositors of the Bank of Credit and Commerce International in terms of(a) numbers and (b) value.

Mr. Nelson

I understand that up to close of business on 28 May 1992 payments have been made by the Deposit Protection Board to some 450 depositors of BCCI, involving total protection payments of some £1.6 million.

Mr. Vaz

To ask the Chancellor of the Exchequer if he will make a further statement on the Deposit Protection Board and payments to former depositors of BCCI.

Mr. Nelson

The amount which the Deposit Protection Scheme will pay out to former depositors of BCCI will depend on how many depositors make valid claims under the scheme. The Deposit Protection Board is anxious to make payments as soon as practicable, in line with its statutory duty.

Mr. Vaz

To ask the Chancellor of the Exchequer on what date the first payment was made under the Deposit Protection Board to former depositors of BCCI.

Mr. Nelson

I understand that the Deposit Protection Board made the first payments to former depositors of BCCI on 16 April 1992.

Mr. Vaz

To ask the Chancellor of the Exchequer how many applications have been made to the Deposit Protection Board for compensation by former depositors of BCCI.

Mr. Nelson

I understand that, as at close of business on 28 May 1992, some 15,000 applications for compensation have been made to the Deposit Protection Board by former depositors of BCCI.