# The Bank Levy (Amendment of Schedule 19 to the Finance Act 2011) Regulations 2016, Note: Explanatory note


(This note is not part of the Regulations)
The Regulations amend the definition of securities which are “high quality” and the definition of “high quality liquid assets” contained within Schedule 19 (bank levy) to the Finance Act 2011 (c. 4).
The amendments are made further to the requirements for liquidity buffers introduced by Regulation (EU) No 575/2013 of the European Parliament and the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms (OJ L 176, 27.6.2013, p.1) and by Commission Delegated Regulation (EU) 2015/61 of 10 October 2014 to supplement Regulation (EU) No 575/2013 of the European Parliament and the Council with regard to liquidity coverage requirement for Credit Institutions (OJ L 11, 17.1.2015, p.1).
The previous definitions referred to matters contained within section BIPRU 12.7.2 to 12.7.4 of the PRA Handbook, which matters no longer apply in consequence of the above EU legislation.
A Tax Information and Impact Note covering this instrument will be published on the website at https://www.gov.uk/government/collections/tax-information-and-impact-notes-tiins.

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Source: https://www.legislation.gov.uk/uksi/2016/874/note (the official version)
Page: https://openlegislation.uk/bank-levy-amendment-of-schedule-19-to-the-finance-act-2011-regulations-2016/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.