Downing Street Says » Supreme Court banks case

» Tuesday, November 24, 2009

Supreme Court banks case

The PMS was then asked about the anticipated Supreme Court ruling on the banks tomorrow and what the Prime Minister’s advice would be to them if the banks lose. He replied that the Government remains committed to the view that there should be fair charges in banking for both personal consumers and the corporate sector. The banks should deliver a good service and charge fairly for their services.

Asked about the level of emergency funding given to the banks last year to enable them to continue trading, the PMS said that this was a powerful reminder of how close the banking system came to near collapse. He confirmed that the Government did have to provide large funds at short notice to one of the banks involved but said that they had since been repaid. Asked why the funding was kept secret, the PMS said that what goes on in banking is not routinely talked about publicly.

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