§ 40. Mr. Fernyhoughasked the Chancellor of the Exchequer how many fringe banks have collapsed during the last two years; what were their total losses and what amount has been contributed by the Bank of England to their rescue.
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§ Mr. Joel BarnettOf those "fringe" financial institutions receiving support from the special committee of the Bank of England and the London and Scottish clearing banks set up in late 1973, eight are either in receivership or in liquidation. As in all cases these processes are still continuing, it is not yet possible to establish the extent of the total losses. On the question of the Bank of England's contribution I would refer my hon. Friend to page 37 of the Bank of England's Annual Report for the year ended 28th February 1975.