§ 33. Mr. VazTo ask the Chancellor of the Exchequer what proposals he has to improve the supervision of banks. [41707]
§ Mrs. LiddellThe regime for prudential supervision of banks is kept under constant review, both at home and internationally, in fora such as the European Union and the Basle Committee on Banking Supervision. When changes are needed, to reflect the nature of the markets in which banks operate, they are made. As my hon. Friend will be aware, we have announced major reforms to the structure of financial supervision in the UK. On 1 June, responsibility for the supervision of banks will transfer from the Bank of England to the Financial Services Authority.