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Banks: USA

Volume 488: debated on Monday 2 March 2009

To ask the Chancellor of the Exchequer whether UK-based banks with entities or subsidiaries in the US are able to gain access to the US’s Troubled Assets Relief Programme. (258126)

The Troubled Assets Relief Programme (TARP) is a US scheme and eligibility criteria for the TARP program are a matter for the US Administration.

To ask the Chancellor of the Exchequer what powers the Financial Services Authority has to investigate the operations of subsidiaries of United States-based banks operating in the United Kingdom; and if he will make a statement. (259051)

This is an operational matter for the Financial Services Authority. I understand that the chairman of the FSA, Lord Turner, will write to the hon. Gentleman.