§ Mr. MacShaneTo ask the Chancellor of the Exchequer what assessment he has made of the adequacy of the supervision exercised by the Bank of England and its agencies over international trading in derivatives. [21140]
§ Mr. NelsonThe Bank of England has made clear, on a number of occasions, the risks involved in derivatives and in trading activities more generally. Banks are expected to hold sufficient capital against these risks and to maintain appropriate systems and controls. The supervision of banks is conducted by the Bank of England, where appropriate in collaboration with other regulators in the UK or overseas.