§ 55. Mr. Leeasked the Chancellor of the Exchequer how many banks have become insolvent during the last five years; and what were the total identified losses resulting from such insolvency.
§ Mr. Robert SheldonDuring the period in question two United Kingdom-registered companies on the Bank of England's statistical list of banks have become insolvent. In addition two branches of foreign banks have also closed as a result, of the insolvency of their parents. The final extent of the losses involved has not yet been established.
§ Mr. Leeasked the Chancellor of the Exchequer how many banks in the United Kingdom currently licensed as moneylenders are known by his Department to be engaged in secondary bank activities.
§ Mr. DellPersons and companies bona fide carrying on the business of banking are exempt from the provisions of the Moneylenders Acts. Moneylenders licensed under the Acts are prohibited from representing themselves as carrying on a banking business.