Financial Services (Banking Reform) Bill
MPs are considering Lords' amendments to the Financial Services (Banking Reform) Bill
The bill had third reading on 9 December and has returned to the Commons for consideration of Lords amendments.
At report stage in the Lords, the government suffered one defeat as peers backed a Labour amendment designed to introduce a licensing regime for the banking industry.
At third reading in the Lords, Commercial Secretary to the Treasury Lord Deighton put down a series of amendments on behalf of the government to meet promises made at report stage.
The bill builds on the recommendations of the Independent Commission on Banking (the Vickers Commission) and on those made by the Parliamentary Commission on Banking Standards.
The focus of the bill is the problem of banks that are "too big to fail" - the bill aims to protect society from losing the utilitarian functions of banks if the bank itself is in financial difficulty.