HC Deb 02 November 1976 vol 918 cc561-2W
Mr. Lee

asked the Chancellor of the Exchequer what instructions or guidance his Department currently provides to the Bank of England with regard to the degree of support to be afforded to secondary banks; in what circumstances such support would be withdrawn from any secondary bank; and if he will make a statement.

Mr. Denzil Davies

The maintenance of good order and confidence in the financial system generally, and particularly in the banking system, is one of the central domestic responsibilities of the Bank of England. I do not believe that it is either necessary or desirable for me to be drawn into questions of detail in this area, although the Governor of the Bank of England naturally keeps my right hon. Friend in touch with developments.