HMG Investor mandate to state owned banks regarding defaults

Tom Woodhead made this Freedom of Information request to Ministry of Housing, Communities and Local Government

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Dear Ministry of Housing, Communities and Local Government,

As a major shareholder of Lloyds and RBS banks, what mandate have you put to the banks you own in relation to defaults?

Specifically, if the UK enters a recession, or incurs job losses, as a result of government action e.g. Brexit and / or the impact of uncertainty for businesses related to initiating Brexit. (Both demonstrated to damage UK growth.), what mandate have or will you make in relation to repossessing people's homes if they fail to make loan or mortgage repayments?

Yours faithfully,

Tom Woodhead

eCase@hmtreasury.gov.uk on behalf of Enquiries, CEU - HMT,

1 Attachment

Dear Mr Woodhead,

Please find attached our response to your recent enquiry.

Regards

HM Treasury