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Banking Crisis
  • Language: en
  • Pages: 136

Banking Crisis

This report examines the failure of the UK banks. The Committee begins by examining how the present position came about. After looking at the economic situation the report addresses the fate of those banks now partly or wholly owned by the Government, comparing their experiences with those of the building societies. This analysis identifies several key factors as triggering this crisis. First, the growth of risk and complexity, with a concomitant growth in profit, meant that too few people (including many of those in charge) had a clear idea of what was on the banks' books. Second, the banking sector became over-reliant on wholesale funding and discounted any possibility that the wholesale m...

The Treasury Committee's Scrutiny of Appointments
  • Language: en
  • Pages: 7

The Treasury Committee's Scrutiny of Appointments

  • Type: Book
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  • Published: 2016-07-07
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  • Publisher: Unknown

Dated July 2016. Print and web pdfs available at https://www.gov.uk/government/publications Web ISBN=9781474135825

Appointment of Dr Mark Carney as Governor of the Bank of England
  • Language: en
  • Pages: 100

Appointment of Dr Mark Carney as Governor of the Bank of England

The Treasury Committee has today published a report following the pre-commencement hearing it held with the next Governor of the Bank of England, Dr Mark Carney, on 7 February 2013. During the hearing, Dr Carney offered his views on the UK's future monetary policy framework. The Treasury Committee will report its conclusions, based in part on Dr Carney's evidence, in its forthcoming Report on the Budget. The Bank of England has taken on a wide range of new powers. Significant structural and cultural change is underway. Dr Carney will be responsible for overseeing it. In evidence to the Committee, Dr Carney set out his preference for a consensus-based approach to leadership; this will be significant if it leads to a meaningful change of culture within the Bank. The Committee wishes Dr Carney every success for his term as Governor. He will bring a wide range of skills and a great deal of experience to the role. Dr Carney's appearance before the Treasury Select Committee has set an important precedent. No previous Governor of the Bank of England has been subject to such a rigorous pre-commencement hearing. In future, they will be.

Work of the Committee in 2007
  • Language: en
  • Pages: 36

Work of the Committee in 2007

This report gives an account of the work of the Treasury Committee and Sub-Committee in 2007. The report identifies four main themes of work: (i) a flexible reponse to topical issues; (ii) a strengthened and continuing priority for the scrutiny of the key elements of economic policy; (iii) a continuing commitment to scrutiny of the expenditure and administration of the Chancellor's of the Exchequer's departments; (iv) a commitment to innovations in practice. The report analyses the extent to which the Committee has fulfilled the core tasks of departmental select committees. Reports produced by the Committee, for this 2007 period, include: Are you Covered? Travel Insurance and its Regulation, (HCP 50-I, session 2006-07, ISBN 9780215032638); Unclaimed Assets within the Financial System, (HCP 533, session 206-07, ISBN 9780215035806); Financial Inclusion Follow-up: Saving for all and Shorter Term Saving Products, (HCP 504, session 2006-07, ISBN 9780215038128).

Bank of England
  • Language: en
  • Pages: 14

Bank of England

  • Type: Book
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  • Published: 2003
  • -
  • Publisher: Unknown

Bank of England

Appointments to the Budget Responsibility Committee
  • Language: en
  • Pages: 36

Appointments to the Budget Responsibility Committee

Appointments to the Budget Responsibility Committee : Fifth report of session 2010-11, Vol. 2: Oral and written Evidence

Administration and expenditure of the Chancellor's departments, 2006-07
  • Language: en
  • Pages: 176

Administration and expenditure of the Chancellor's departments, 2006-07

This is the first annual scrutiny by the Treasury Committee of the Chancellor of Exchequer's Departments. The Committee sets out a number of conclusions and recommendations, including: that the Treasury should include within its' annual reports a summary of the results of the annual surveys of stakeholder opinion and the Treasury's response to stakeholders; the Committee recommends that the Treasury set itself a target to ensure that the Public Service Agreements finalised as part of the next Spending Review in 2009 or 2010 include a clear statement about the resources to be allocated across Government to the delivery of each Agreement; the Committee criticises the Treasury's failure to meet...

Banking Reform
  • Language: en
  • Pages: 234

Banking Reform

This report follows on from the Committee's report on the crisis at Northern Rock (5th report, HC 56-I, ISBN 9780215038388) and the lessons to be learned by the Treasury, the Financial Services Authority (FSA) and the Bank of England (the Tripartite authorities). It examines legislative and practical changes that are needed. The overall case for legislative action in the field of banking regulation is compelling but the Government's preparations for new legislation may not be in place by late February 2009. The Committee recommends that the legislation provides: greater clarity about the nature and objective of "heightened supervision"; an explicit statutory power for the Bank of England to ...