PARLIAMENTARY EARLY DAY MOTION
COMPENSATION FOR VICTIMS OF BCCI (25 February 1993)

That this House welcomes the publication of the Second Report of Session 1992-93 from the Treasury and Civil Service Committee (HC250) on Banking Supervision and BCCI; The Implications of the Bingham Report; specifically notes the statement that the Bingham Report demonstrates conclusively that the Bank of England failed to discharge its supervisory duties in respect of BCCI; notes that the Chancellor the Exchequer informed this House on 19th July 1991, Official Report, column 721, that if criticism of the Bank of England's handling of BCCI were made he would consider the case for compensation; and calls on the Chancellor the Exchequer to meet at the earliest opportunity representatives of the local authorities, former employees and depositors who lost money in the closure of BCCI to discuss compensation.

Sponsored by:
Keith Vaz (Labour)