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Banks: Guernsey

Volume 486: debated on Thursday 22 January 2009

To ask the Chancellor of the Exchequer (1) what conditions the Financial Services Authority attached to its approval of the sale by the Portman Building Society of its Guernsey subsidiary to Landsbanki; (248334)

(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.