Question to the HM Treasury:

To ask Her Majesty's Government what action, if any, they intend to take as a result of the recent concerns raised by the Financial Conduct Authority and Prudential Regulation Authority in relation to Metro Bank and, in particular, that the bank may have provided inaccurate statements to investors.

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.