ACTIVITIES OF BANKS

That this House welcomes the actions of those banks which have already announced measures to help both small businesses and homeowners through the economic downturn; in particular welcomes pledges not to initiate repossession proceedings for a full six months after a customer first falls into mortgage arrears; further welcomes announcements to pass on base rate changes in full to commercial customers with a turnover of less than one million pounds in order to maintain constant price and availability of overdrafts during customer agreement periods, and to agree to any reasonable request for short-term finance for supporting viable businesses through temporary difficulties; and calls on the Government to ensure that the lead taken by those banks in receipt of Government funding is quickly followed by all banks, in order further to alleviate the worry and stress of repossession, unfair withdrawal of credit, and unjustified increases in bank charges and fees.