# The Bank Recovery and Resolution (No. 2) Order 2014, Article 122: Duties of the Bank in relation to minimum requirement

Extent: E+W+S+N.I.

(1) The Bank must exercise the powers conferred by section 3A of the Banking Act 2009 (removal of impediments to the exercise of stabilisation powers etc)—
(a) to ensure that a relevant institution is required at all times to maintain a minimum requirement for own funds and eligible liabilities ...; and
(b) with the object of ensuring that at all times the institution meets the minimum requirement specified in a direction given for that purpose.
(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Source: https://www.legislation.gov.uk/uksi/2014/3348/article/122 (the official version)
Page: https://openlegislation.uk/bank-recovery-and-resolution-no-2-order-2014/article-122
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.