Question to the HM Treasury:

To ask Her Majesty's Government what assessment they have made of any (1) systemic risk arising from open-ended investment funds investing in leveraged sub-investment grade bonds and debt issues by developing world nations denominated in G7 currencies, and (2) risks arising from such maturity transformation.

The question has been passed to the Bank of England. The Bank of England will reply directly to Lord Myners by letter. A copy of the letter will be placed in the Library of the House.