Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what guidance his Department has given to the Financial Conduct Authority on its remit in relation to tailored business loans.

Treasury Ministers and officials meet with a wide range of organisations as part of the usual policy making process.

The Treasury publishes a list of ministerial meetings with external organisations. This is available online at: http://www.hm-treasury.gov.uk/minister_hospitality.htm

It is important to recognise that business lending is not, and never has been, within the scope of the Financial Conduct Authority's (FCA) conduct rules.

I understand that Clydesdale and Yorkshire Banks have agreed to review the sale of those tailored business loans with features comparable to standalone structured collars, simple collars and caps notwithstanding the fact that they are strictly outside the scope of the FCA's review into the mis-selling of interest rate hedging products.