Banks: Standards

Norman Baker
To ask the Chancellor of the Exchequer what assessment he has made of the resilience of the UK banking system; and if he will make a statement.

Andy Burnham
The FSA has responsibility for assessing the resilience of individual banks and shares responsibility with the Bank of England for maintaining a broad overview of the financial system as a whole. Their views of the risks to financial system are made public, in particular through the Financial Risk Outlook and the Financial Stability report respectively. The chairman and chief executive of the FSA and the Governor and deputy governor of the Bank of England have set out their views on these issues over recent months to the Treasury Committee.