Interest Rate Swap Derivatives Debate

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Department: HM Treasury

Interest Rate Swap Derivatives

Eleanor Laing Excerpts
Thursday 24th October 2013

(10 years, 6 months ago)

Commons Chamber
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Sajid Javid Portrait Sajid Javid
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May I tell my hon. Friend that I would be more than happy to meet him and other stakeholders to discuss this further?

Eleanor Laing Portrait Madam Deputy Speaker (Mrs Laing)
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If the Minister has finished his intervention, the hon. Gentleman may conclude his speech.

Guto Bebb Portrait Guto Bebb
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I appreciate that offer very much, Madam Deputy Speaker.

Question put and agreed to.

Resolved,

That this House considers the lack of progress made by banks and the Financial Conduct Authority on the redress scheme adopted as a result of the mis-selling of complex interest rate derivatives to small and medium businesses to be unacceptable; and notes that this lack of progress is costly and has caused further undue distress to the businesses involved.