HIGHLIGHTS - BoE's Miles appointment hearing with lawmakers

LONDON (Reuters) - Following are highlights of verbal and written testimony by Bank of England Monetary Policy Committee member David Miles on Thursday at his appointment hearing before Parliament's Treasury Committee.

ON BANK SECTOR PROBLEMS "The problems in the banking sector -- the banking sector is on life support and the ability of banks to lend is curtailed. Foreign banks, in many cases for a more extended period, have pulled out of the UK."

WORST OF DOWNTURN IS PAST

"So the prospect of a rapid return to growth doesn't seem a highly probable outcome. But there are reasons for thinking the period of the most rapid declines in output are behind us."