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Lenders' Panel

Volume 493: debated on Tuesday 2 June 2009

To ask the Chancellor of the Exchequer (1) what the cost of establishing his Department's Lenders' Panel was; and how much he expects his Department to spend on the Panel in each of the next three years; (264981)

(2) on how many occasions his Department's Lenders' Panel has met; and if he will place in the Library a copy of the minutes of each meeting.

At the 2008 pre-Budget report, the Government announced the creation of a new Lending Panel, which meets regularly to monitor lending to businesses and households. As part of this new monitoring approach, the Bank of England is publishing a monthly report—Trends in Lending—the second of which was published on 21 May 2009. This is available at:

www.bankofengland.co.uk

The Lending Panel brings together lenders, trade bodies, consumer groups, and the Government, regulators and the Bank of England.

Members of the Lending Panel attend in a voluntary capacity. There are no specific costs associated with the Lending Panel.