Member

We previously discussed debanking, and I do not want to go back over it in any detail. However, to be clear, it is crucial to all this that there is no suggestion of wrongdoing in the information passed across, and that will be made clear in the code of practice. We are alive to the concerns expressed about debanking, and we are determined to work with the industry and the FCA to make sure that no such concerns have any unintended consequences. Our expectation is that, as this evolves, the levels of burden and the systems there are such that this will not be a significant problem, but we are not complacent and we will keep an eye on it.