Member

The Government do not therefore believe that it is necessary for a report to be produced on the impact of the Bill on credit unions. Nevertheless, I appreciate the points the shadow Minister raised about access to liquidity facilities. Credit unions are not currently eligible to access the Bank of England’s liquidity facilities, but the Bank does continually assess the types of firms that are eligible. I would gently say to him that with eligibility to these liquidity facilities comes additional responsibilities on behalf of the firms that benefit from them. That is worth bearing in mind.