{"value":{"id":225589,"memberId":4284,"member":null,"memberRole":"Parliamentary Under Secretary of State for Business, Innovation and Skills, Minister for Intellectual Property","uin":"HLWS327","dateMade":"2015-03-06T00:00:00","answeringBodyId":26,"answeringBodyName":"Department for Business, Innovation and Skills","title":"Departmental Contingent Liability Notification (Wholesale Guarantee Scheme)","text":"<p>My Rt hon Friend the Secretary of State for Business, Innovation and Skills (Vince Cable) has today made the following statement:</p><p>The British Business Bank has been established as an economic development bank supporting small and medium sized enterprises in the UK. The Wholesale Guarantee Scheme is a new scheme to be administered by the British Business Bank aiming to encourage participating banks to lend more to small and medium-sized enterprises by addressing the high capital consumption associated with such lending.</p><p> </p><p>The aggregate notional amount of the guarantees issued by the Department under the scheme is expected to be circa £2 billion, with extension beyond this subject to further review. This enables the Department to manage its risk appetite and limit its credit risk exposure.</p><p> </p><p>As a matter of record I have placed a departmental minute in the Libraries of both Houses explaining the procedure followed and containing a description of the liabilities undertaken.</p><p> </p>","house":"Lords","noticeNumber":0,"hasAttachments":false,"hasLinkedStatements":true,"linkedStatements":[{"linkedStatementId":225379,"linkType":"JointStatement","linkDate":"2015-03-05T00:00:00"}],"attachments":[]},"links":[{"rel":"self","href":"/Statements/225589","method":"GET"}]}