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Debts

Volume 472: debated on Tuesday 26 February 2008

To ask the Chancellor of the Exchequer what assessment has been made by (a) the Bank of England, (b) his Department and (c) the Financial Service Authority of the effects of the problems in the US monoline debt default insurance sector on UK financial and economic stability. (188176)

The Bank of England and the FSA monitor developments related to the monoline insurance industry and assess the impact for financial and economic stability, in line with their responsibilities. The Bank of England and the FSA share assessments of risks to financial and economic stability with the Treasury. Such assessments may also, where relevant, be published in the Bank of England’s Financial Stability Report and the FSA’s Financial Risk Outlook.