Banking (Special Provisions) Bill

I did not say that there is no risk; there is risk all around at the moment, given what is happening in the global credit crunch. There are risks that that could affect institutions other than banks. What I did say is that we do not have in mind any particular building society that is in difficulty at the moment. I wanted to emphasise that point, so as not to set alarm bells ringing. However, in the interim period, while we are considering banking reform more generally, we think that it is prudent to introduce the precautionary powers in clause 6 and clause 11, which we shall come to later.