Richard Burgon – 2016 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Richard Burgon on 2016-02-19.

To ask Mr Chancellor of the Exchequer, what assessment he has made of the implications for financial system resilience of the Prudential Regulation Authority’s proposed rules on ringfencing; and if he will make a statement.

Harriett Baldwin

The Government is confident that the Prudential Regulation Authority’s proposed rules on ring-fencing are beneficial for financial system resilience. These are fully consistent with the Banking Reform Act (2013), and are necessary to ensure the full and timely implementation of the legislation.