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Banks: Finance

Volume 487: debated on Thursday 12 February 2009

To ask the Chancellor of the Exchequer what the total monetary value of funds drawn down against the Bank of England Special Liquidity Scheme has been to date. (256179)

The drawdown period for the SLS closed on 30 January. The nominal value of Treasury Bills drawdown as of 30 January 2009 was £185 billion. The monetary value of Treasury Bills changes based on market prices.

Further details can be accessed via the Bank of England website:

http://www.bankofengland.co.uk/publications/news/2009/006.htm

To ask the Chancellor of the Exchequer what monitoring his Department has put in place to determine whether additional bank recapitalisation may be necessary. (256180)

In addition to decisive actions taken last October, on 19 January the Government announced further measures designed to reinforce the stability of the financial system, to increase confidence and capacity to lend, and in turn to support the recovery of the economy.

The Government are now working to implement these schemes and will monitor the impact of these measures.

To ask the Chancellor of the Exchequer (1) what the expected exposure range for the Government’s insurance scheme for banks for expected bad debts is; (256183)

(2) whether any banks have submitted applications for cover to the Government insurance scheme for banks for expected bad debts.

The Government will publish further details of the Asset Protection Scheme by the last week of February.