To ask the Chancellor of the Exchequer what assessment he has made of the likely impact of the EU Capital Requirements Directive on the competitiveness of the City of London. (191584)

HM Treasury produced a regulatory impact analysis for the areas of the Capital Requirements Directive (CRD) that the Treasury were responsible for transposing into UK law. This analysis considered the implications of the various transposition options for the competitiveness of the City of London, amongst other factors. Further information can be found on the Treasury’s website at:

www.hm-treasury.gov.uk/consultations_and_legislation/capital_requirements_directive/consult_capitalrequirements_index.cfm

The Financial Services Authority was responsible for analysing the implications of the areas of the CRD which it was responsible for transposing. Further information can be found on the FSA's website at:

www.fsa.gov.uk/pages/Library/Policy/CP/2006/06_O3.shtml