§ Mr. VazTo ask the Chancellor of the Exchequer how many members there are on the Deposit Protection Board; if he will list the members of the Deposit Protection Board; and what is the budget of the Deposit Protection Board.
§ Mr. MaplesThere are, at present, six members of the Deposit Protection Board. There are three ex-officio members—the Governor of the Bank of England, the deputy governor, and the chief cashier—plus three ordinary members appointed by the Governor. They are Mr. B. Quinn, Mr. R. T. Fox and Mr. T. P. Frost. The appointment of a fourth ordinary member is outstanding, following the resignation of Mr. A. S. Park.
In the year to 28 February 1991, the operating costs of the board were £314,000. For 1991–92, the original operating costs budget was £200,000, but this will clearly be exceeded due to the extra resources required to deal with BCCI.