§ 74. Mr. Loydenasked the Chancellor of the Exchequer if he has any plans to change the present regulations governing the banking system.
§ Mr. Ian StewartThe present regulations for the banking system are governed by the Banking Act 1979. Because of developments in banking supervision, markets and technology the Government are taking steps to ensure that the law relating to banking and banking supervision is kept up to date and strengthened where necessary. A Banking Bill covering supervisory matters is before the House at present and on 14 November 1986 I announced that there would be a review of banking services law. Regulations made under the Banking Act 1979 are also reviewed from time to time and revised where appropriate.