Lessons from Greensill Capital

Public Accounts Committee Closed Inquiry
Opened: 5 Jul 2021 Closed: 21 Jan 2022 Parliament page
In response to the COVID-19 pandemic the government launched a series of schemes providing financial support to businesses of all sizes. Of these, the Coronavirus Large Business Interruption Loan Scheme (CLBILS) provided support to the largest businesses—those with a minimum turnover of £45 million. Commercial lenders (for example, banks, building … Read more
9 Recommendations
19 Conclusions
1 Report
2 Oral sessions
4 Letters
2 Events
Activity timeline 8 events
9 Mar
2022
Correspondence
21 Jan
2022
Report published
18 Jan
2022
Correspondence
20 Nov
2021
Report published
16 Nov
2021
Correspondence
22 Jul
2021
Oral evidence
6 Jul
2021
Correspondence
13 May
2021
Oral evidence
Oral evidence sessions 2 sessions
22 Jul 2021
View on parliament.uk
Lessons from Greensill Capital
Catherine Lewis La Torre · British Business Bank Charles Roxburgh · HM Treasury Patrick Magee · British Business Bank Sarah Munby · Department for Business, Energy and Industrial Strategy Sir Tom Scholar · HM Treasury
13 May 2021
View on parliament.uk
Lessons from Greensill Capital
Rt Hon David Cameron
Title HC No. Published Items Response
Twenty-Sixth Report - Lessons from Greensill Capital: accreditat… HC 169 20 Nov 2021 28 Responded
Recommendations & Conclusions
2 results
Clear
13 Conclusion Deferred
Twenty-Sixth Report - Lessons from…
The NAO found that, when challenged on its loans to borrowers within the GFG Alliance...
The NAO found that, when challenged on its loans to borrowers within the GFG Alliance group, Greensill told the Bank that it had received “political steers” that its support for the steel industry was welcomed.34 We asked the Department what … Read more
Government Response
The government states its Shareholder Relationship Framework Document is being updated, and consideration will be given to changes regarding operational independence for 'Service Arm' activities, with a commitment to write to the Committee on the outcome.
HM Treasury
View details
14 Conclusion Deferred
Twenty-Sixth Report - Lessons from…
We asked the Bank whether it considered the Department’s questions about Greensill’s accreditation as the...
We asked the Bank whether it considered the Department’s questions about Greensill’s accreditation as the Department encouraging the approval of Greensill’s application. The Bank told us that it had considered the level of interest from the Department as “unusual”, but … Read more
Government Response
The government states that its Shareholder Relationship Framework Document is being updated, and consideration will be given to changes regarding operational independence for 'Service Arm' activities, with a commitment to write to the Committee on the outcome.
HM Treasury
View details
Government Response AI assessment · 28 of 9 classified
Accepted 14
Acknowledged 6
Deferred 2
Not Addressed 6
Total 9 recs + 19 conclusions
Correspondence 4 letters
9 Mar 2022 Correspondence from Catherine Lewis La Torre, Chief Executive, British Business Bank, re British Business Bank (the Bank) review, dated 2 March 2022
Parliament page
18 Jan 2022 Correspondence from Sarah Munby, Permanent Secretary, Department for Business, Energy & Industrial Strategy, re PAC recommendations – “Lessons from Greensill Capital”, dated 13 January 2022
Parliament page
16 Nov 2021 Correspondence Catherine Little, Director General, Public Spending Head of Government Finance Function, re Lessons from Greensill Capital, dated 7 September 2021
Parliament page
6 Jul 2021 Correspondence from RT David Cameron, Former prime minister of the United Kingdom, re follow up to Greensill, dated 25 June 2021
Parliament page