Question to the HM Treasury:

To ask Her Majesty's Government whether they are considering asking, or have asked, Banking Competition Remedies Limited to reconsider the allocation of part of the RBS State aid: alternative remedies package to Metro Bank, in the light of subsequent announcements by Metro Bank of a short fall in equity capital, truncated growth in branch openings and short comings in financial control and governance oversight.

Banking Competition Remedies (BCR) is the independent body established to implement the Royal Bank of Scotland (RBS) funded Alternative Remedies Package (the Package). BCR has sole responsibility for Package implementation, including responsibility for decisions on Capability and Innovation Fund (CIF) awards.

Firm supervision is a matter for the independent regulators, in this case, the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) which jointly regulate Metro Bank.