Hm Treasury Departmental Minute Dated 26 February 2009

EDM number 957 in 2008-09, proposed by Andrew Mackinlay on 03/03/2009.
Categorised under the topic of Financial institutions.

That this House notes that the contingent liability arising from the financial guarantee offered by the Asset Protection Scheme to the Royal Bank of Scotland (RBS) has been set out in a Departmental Minute on 26 February 2009; regrets that only four copies were made available to the House; believes it unhelpful and discourteous for HM Treasury not to have published it as a Command Paper; is mindful that the unprecedented scale of the RBS assets which are the subject of the protection and contingent liability totals 325 billion; further records that the Treasury intends further discussions to be conducted and that further conditions have to be agreed by RBS before final signature by the Treasury of the scheme agreements; and being mindful and jealous of its historic duty to provide scrutiny and vote supply, demands that before signatures are applied on behalf of HM Treasury the final agreed scheme will need to be approved by the House.

This motion has been signed by a total of 23 MPs.