§ Mr. Austin MitchellTo ask the Chancellor of the Exchequer what plans he has to create a banking commission to regulate all banks operating in the United Kingdom.
§ Mr. NelsonThe Government have no plans to establish a new regulatory body in place of the Bank of704W England, which is currently responsible for supervising all banks operating in the United Kingdom. The Government will shortly be bringing forward their proposals for implementing the second banking co-ordination directive, under which the primary responsibility for supervision of EC banks' operations throughout the EC will fall to the authorities of their home state.