(2) what discussions the Financial Services Authority (FSA) had with the Portman Building Society on its application to establish a wholly-owned banking subsidiary in Guernsey; and what assurances the FSA received in respect of (a) the terms of business of the subsidiary and (b) the protection and indemnification of depositors.
[holding answer 19 January 2009]: I refer the hon. Gentleman to the answer I gave him on 13 January 2009, Official Report, column 569W.