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Darling launches mortgage finance Working Group
09 April 2008
Alistair Darling has launched a new Working Group which will aim to advise the government in how best to improve the function of mortgage finance markets.
Headed up by Sir James Crosby, the group will be made up of a number of leading figures in the industry as well as other financial experts.
"The recent and ongoing disruption in global financial markets has raised complex issues about the functioning of the mortgage-backed securities markets," said the chancellor.
"I am delighted to announce that Sir James will chair the industry Working Group that will consider market-led initiatives to improve these markets. This work will be an important contribution to stabilising the cost and supply of UK mortgages."
Sir James, who has previously held numerous high positions in the financial sector including deputy chairman of the Financial Services Authority Board, said that he was "very pleased" at his new role.
"These difficulties stem from problems in the markets, so to be effective any proposals to deal with them must be market-developed and market-led," he said. 
