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Master Netting Agreement

Volume 448: debated on Tuesday 11 July 2006

To ask the Chancellor of the Exchequer pursuant to the answer of 31 January 2006, Official Report, column 403W, on the Master Netting Agreement, whether the European Central Bank Guidelines preclude the Government from changing its own practices as the baseline upon which its own guidelines have been set. (84203)

No, as ECB guidelines are applicable to members of the Eurosystem and are not binding on the UK while it is not a member of the system.