"My Lords, I have some experience of ring-fencing as, in my capacity as the chairman of the risk committee of a major bank, I oversaw the implementation of ring-fencing. At that time, it was a significant risk to the bank that we would not be in compliance with the ring-fencing …..." Baroness Noakes - View Speech
"My Lords, I understand the point that the noble Lord is trying to make, but I argue that the risk of the taxpayer picking up the tab is now considerably lower, which means that it is reasonable to re-examine whether ring-fencing should be an ongoing part of the regime.
"The Minister and I had a meeting on this last week, so I am surprised that he is raising the issue today. I notified on Friday that I would be continuing the line that I had taken on the first Committee day...." Baroness Noakes - View Speech
"Before I decide what to do with my amendment, I ask the Minister—because I may not have been paying attention—whether he explained why there is a requirement to consult the regulators for powers under new Section 408A but not under new Section 408B...." Baroness Noakes - View Speech
"The Minister is stacking up rather a lot of letters that need to be written.
I thank all noble Lords who have spoken in this debate. It raises important issues. The Minister said, in relation to consultation, that the Treasury would summarise the evidence. That is not the same as …..." Baroness Noakes - View Speech
"My Lords, I am grateful to the noble Baroness, Lady Bowles of Berkhamsted, the noble Lord, Lord Vaux of Harrowden, and my noble friend Lord Bridges of Headley for adding their names to this amendment.
Last week, we debated the need for more extensive regulatory evaluation in order to hold …..." Baroness Noakes - View Speech
"My Lords, I thank all noble Lords who have taken part in this short debate. I know that it is, in part, a repeat of debates we have held already in Committee, but it is bringing together such an important issue, which is the strength of the accountability mechanisms for …..." Baroness Noakes - View Speech