Skip to main content

Banks

Volume 481: debated on Monday 27 October 2008

To ask the Chancellor of the Exchequer what recent assessment he has made of the effect the mark to market rules are having on bank liquidity; and what the procedures are for changing those rules. (225934)

The Government welcome the steps the International Accounting Standards Board (IASB) has taken to revise accounting standards to address concerns that the application of fair value accounting may be exacerbating the reduction in some asset prices in the current extraordinary market conditions, while at the same time ensuring alignment of international and US standards. International Financial Reporting Standards are set by the IASB and adopted for use in the EU.

To ask the Chancellor of the Exchequer what consideration he has given to the remutualisation of (a) Northern Rock and (b) Bradford and Bingley. (230107)