To ask the Chancellor of the Exchequer whether he has any plans to investigate the role of unqualified individuals in the audit of the Bank of Credit and Commerce International.

I am not aware of any suggestion that the individuals in charge of the audit of the Bank of Credit and Commerce International were not suitably qualified.

To ask the Chancellor of the Exchequer what plans he has to review the operations in the United Kingdom of the Bank of Credit and Commerce International in respect of inducements to clients and information provided to customers, with a view to possible amendments to the banking legislation.

I refer the hon. Member to the announcement made by the Prime Minister on 22 July at column 757.

To ask the Chancellor of the Exchequer what communications he has received from Ernst and Young about the operations of BCCI.

Ernst and Young did not communicate any doubts about the operations of BCCI to my right hon. Friend the Chancellor of the Exchequer, nor would I expect them to have done so.

To ask the Chancellor of the Exchequer what information he has on the incidence of prosecutions of BCCI officials for money laundering in the United States of America since 1986.

I understand that employees of companies in the BCCI group were indicted in Tampa, Florida in 1988 and subsequently convicted in 1990. Two prosecutions were brought in the United Kingdom in connection with the same case.

To ask the Chancellor of the Exchequer what is the number of United Kingdom depositors involved in the BCCI bank, together with the total capital involvement.

I understand that the branches of BCCI in the United Kingdom had some 70,000 depositors including overseas and United Kingdom residents and 140,000 accounts in both sterling and other currencies. It has not yet been possible for the (provisional) liquidator to estimate the capital involved.

To ask the Chancellor of the Exchequer whether BCCI had at the time of, or recently prior to, its closure the control of any other banks with current operations in the United Kingdom.

No.

To ask the Chancellor of the Exchequer what recent discussions have been held between the Treasury and Mr. Agha Hasan Abedi about BCCI banking operations; and if he will make a statement.

There have been no discussions between the Treasury and Mr. Agha Hasan Abedi.

To ask the Chancellor of the Exchequer if he will make a statement about the scale of illegal money laundering identified in the operations of BCCI in the United Kingdom.

One employee in the United Kingdom operations of BCCI was convicted of money laundering last year. There have been no further prosecutions of United Kingdom employees of BCCI for money laundering.

To ask the Chancellor of the Exchequer if he will place in the Library copies of all correspondence he received from the Governor of the Bank of England relating to the Bank of Credit and Commerce International since June 1987.

No. Exchanges between the Governor and myself are confidential. Any material relating to BCCI would, moreover, be covered by the provisions of part V of the Banking Act 1987. Lord Justice Bingham will of course have access to any correspondence received from the Governor relating to BCCI.

To ask the Chancellor of the Exchequer what consultations his Department had with the Governor of the Bank of England about his visit to Abu Dhabi to meet officials concerning the BCCI issue.

[holding answer 22 July 1991]: My officials and I have discussed BCCI with the Governor on a number of occasions over the last few weeks, both before and after his visit to Abu Dhabi.

To ask the Chancellor of the Exchequer if he will make it his policy to consult a creditors' meeting before a liquidator is appointed in connection with BCCI.

I regret that it has not been possible to provide an answer before the summer recess. I shall therefore write to the hon. Member and place a copy of the letter in the Library.

To ask the Chancellor of the Exchequer when he was informed of the intention of the Bank of England to close the Bank of Credit and Commerce International.

[holding answer 22 July 1991]: I was informed on 28 June that the Bank of England proposed to call the College of Supervisors together to consider closure.