§ Mr. MandelsonTo ask the Chancellor of the Exchequer what is his estimate of the gross figures for sterling deposits held by financial institutions and banks in(a) the Bahamas, (b) Bermuda, (c) the Grand Cayman islands, (d) the Channel islands and (e) the Isle of Man for the latest year available.
§ Mr. Nelson[holding answer 15 July 1993]: Neither the Treasury nor the bank collects this information. The following figures have been supplied by the relevant authorities in the Channel islands, the Isle of Man and the Cayman islands, and cover all banks with a presence in these centres. They do not cover other financial institutions.
£ billion Financial Centre Total sterling deposits Jersey1 22.35 Guernsey 8.9 Isle of Man2 8.04 Cayman Islands3 2.98 1 March 1993 figure. 2 December 1992 figure. 3December 1992 figure for total sterling liabilities—including loans.