International Banking: Payments
Lord Marland Excerpts
Thursday 28th November 2024
Read Full debate Read Hansard Text Watch Debate Read Debate Ministerial Extracts
(1 day, 20 hours ago)
Lords ChamberRead Full debate Read Hansard Text Watch Debate Read Debate Ministerial Extracts
Lord Livermore (Lab)
No, I would not agree with my noble friend on that point.
Lord Marland (Con)
My Lords, many emerging markets are relying on the RMB for funding, which will form the cornerstone of the BRICS payment system. Will the Government review this overzealous regulation—which the noble Baroness referred to from the retail side—but from a commercial side, which is forcing British banks to withdraw from funding in emerging markets?
Lord Livermore (Lab)
It is extremely important that British companies are able to engage in emerging markets in the way the noble Lord describes, and I will happily look at the point that he raises.