Commentary on Sections Treasury support for banks Section 229: National Loans Fund
510.This section allows the Treasury to draw money from the National Loans Fund for the purpose of making a loan to or in respect of a bank or other financial institution when the loan is required urgently in order to protect the stability of the financial systems of the United Kingdom.
511.Subsection (6) obliges the Treasury to lay a report before Parliament where it relies on subsection (1). The report must not identify the institution to or in respect of which the money is paid. Under subsection (7) a report may be delayed or dispensed with on public interest grounds.