§ Mr. Wigleyasked the Chancellor of the Exchequer how many banks there are operating in the United Kingdom which will be officially designated as banks, following his recent changes in legislation; and, of these, how many are subsidiaries of overseas controlled banks.
§ Mr. LawsonThe latest figures available show that as at 1 May 1981 the Bank of England had granted recognised bank status to 284 institutions, under section 3 of the Banking Act 1979. Of this number, 29 were subsidiaries of overseas institutions.