HC Deb 23 October 1992 vol 212 cc392-3W
Mr. Sedgemore

To ask the Chancellor of the Exchequer if any officials from the Bank of England supervision department have been suspended pending investigations by the Serious Fraud Office into allegations of bribery in relation to the BCCI affair.

Mr. Nelson

The allegations have, at the request of the Bank of England, been investigated by the Serious Fraud Office which announced on 20 October that its investigations had revealed no evidence to substantiate any of the claims made.

Mr. Vaz

To ask the Chancellor of the Exchequer what consideration he has given to Senator John Kerry's report into the supervision of BCCI; and if he will make a statement.

Mr. Nelson

[holding answer 22 October 1992]: My right hon. Friend has seen Senator John Kerry's subcommittee's report of its investigation of BCCI, which goes a good way beyond the supervision of the bank. He notes, that unlike Lord Justice Bingham, Senator Kerry's sub-committee had no access to the Bank of England's documents, took no evidence from the bank or BCCI's auditors, and failed to check any conclusions or findings with either of them.

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