Moved by
Baroness Hayman of Ullock
473: After Clause 214, insert the following new Clause—
“Regional mutual banks
(1) The Secretary of State must report to Parliament, within 3 months of the date of the passing of this Act, on existing barriers to the establishment of regional mutual banks in the United Kingdom.
(2) The report must consider—
(a) current capital adequacy requirements,
(b) other limiting features of the current regime,
(c) regional mutual bank structures in jurisdictions outside the United Kingdom and the adoption and adaptation to the United Kingdom of best practice, and
(d) the use of dormant assets as seed capital for the establishment of such regional mutual banks.”