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Banks: Finance

Volume 502: debated on Wednesday 16 December 2009

To ask the Chancellor of the Exchequer whether (a) UK Financial Investments and (b) HM Treasury is undertaking currency cover in respect of the £170 billion of foreign currency loans covered by its underwriting for Royal Bank of Scotland. (307151)

United Kingdom Financial Investments does not have the remit to undertake currency cover in respect of foreign currency loans.

The Treasury does not normally buy insurance against risk.