Member

I will leave my noble friend Lord Moynihan to speak to his Amendment 173A, and may come back to that, but I will speak some more to Amendment 173B, because my noble friend Lord Hayward is unfortunately ill and not able to join us today. This is regarding the issue of capital buffers. I must start by thanking the Minister for a good discussion on this with the team. I think we all understand what we are trying to do here and there are good intentions behind it. At the same time, often noble Lords have a misunderstanding of this area.