Regulation 10 Special bail-in provision

In section 48B (special bail-in provision)^f1—

(a)

in subsection (8), after paragraph (e) insert—

“(ea)
liabilities with a remaining maturity of less than 7 days owed by the bank to a recognised central counterparty, an EEA central counterparty or a third country central counterparty;”;

(b)

in the same subsection, after paragraph (j) insert—

“(k)
liabilities owed by the bank to another bank or a banking group company which (in either case)—

(i)
is part of the same resolution group as the bank, and

(ii)
is not itself a resolution entity,

where the liabilities do not rank below ordinary non-preferential debts under the hierarchy of claims in normal insolvency proceedings.”;

(c)

in subsection (10), for “eligible” in both places it occurs substitute “bail-in”;

(d)

in subsection (11)—

(i)

for “an eligible liability” in each place it occurs substitute “a bail-in liability”;

(ii)

for “the eligible liabilities” substitute “the bail-in liabilities”.

Annotations

Footnotes

f1: Section 48B was inserted by S.I. 2014/3329.