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Banks: Isle of Man

Volume 486: debated on Thursday 22 January 2009

To ask the Chancellor of the Exchequer if he will take urgent steps to protect UK citizens who had deposits in Isle of Man banks. (247845)

I refer my hon. Friend to the answer I gave the hon. Member for New Forest, West (Mr. Swayne) on 5 November 2008, Official Report, column 539W.

To ask the Chancellor of the Exchequer (1) what discussions the Financial Services Authority (FSA) had with the Derbyshire Building Society on its application to establish a wholly-owned banking subsidiary in the Isle of Man; 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; (248335)

(2) what conditions the Financial Services Authority attached to its approval of the sale by the Derbyshire Building Society of its Isle of Man subsidiary to Kaupthing Singer and Friedlander.

[holding answer 19 January 2009]: I refer the hon. Gentleman to the answer I gave the hon. Member for Great Grimsby (Mr. Mitchell) on 26 November 2008, Official Report, column 1902W.