Lord Stockwood (Lab)

Amendment 79 would require the FCA and PRA to assess the impact on the taxpayer of any provision of backstop arrangements by the Bank of England to private stablecoin when exercising their general fun

My Lords, I welcome the focus of the noble Baroness, Lady Kramer, on the vulnerabilities in the private credit system. Although the Government are clear that the growth of private credit has brought b

My Lords, I am grateful to noble Lords for their thoughtful contributions to this debate. This clearly animates a lot of discussion. I particularly acknowledge the noble Baroness, Lady Noakes, and the

The sense is that it creates an administrative burden. We are trying to cut down on regulation as part of trying to accelerate growth, and we believe that that is the right balance.

I can clarify that an annual plan is required and will still be required. Let me write to the noble Baroness to confirm that.

What the clause is trying to represent is that this is the starting point. There is definitely work to do and it needs to be improved.