Bingham Report And Compensation For Bcci Victims

EDM number 679 in 1992-93, proposed by Keith Vaz on 27/10/1992.

That this House welcomes the publication of the Bingham Inquiry into BCCI; notes that serious criticisms made in it concerning the conduct of the Bank of England; recalls Mr Chancellor of the Exchequer's statement to the House on 19th July 1991, Official Report, column 722, in which he stated that he would look at the issue of compensation if 'blame applied' to the authorities or individuals and the Treasury and Civil Service report into BCCI (paragraph 76) which stated that compensation should be paid if 'the Bank of England had failed to discharge its supervisory duties'; and calls on Mr Chancellor of the Exchequer to put forward proposals for compensation to be paid to the ex-employees, depositors and local authorities affected by the collapse of the Bank.

This motion has been signed by a total of 162 MPs.