# The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020, Regulation 24: Resolution of UK branches of third-country institutions


In section 89JA (resolution of UK branches of third-country institutions)—
(a) in subsection (8), in substituted section 48B(10)—
(i) after paragraph (e) insert—
“(ea) liabilities with a remaining maturity of less than 7 days owed by the relevant institution to a recognised central counterparty, an EEA central counterparty or a third country central counterparty;”;
(ii) after paragraph (i) insert—
“(j) liabilities owed by the relevant institution to another institution or a banking group company which (in either case)—
(i) is part of the same resolution group as the relevant institution, 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.”;
(b) in the same subsection in substituted section 48B(12) for “eligible” in both places it occurs substitute “bail-in”;
(c) in the same subsection in substituted section 48B(13)—
(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”.

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Source: https://www.legislation.gov.uk/ukdsi/2020/9780348213676/regulation/24 (the official version)
Page: https://openlegislation.uk/draft-bank-recovery-and-resolution-amendment-eu-exit-regulations-2020/regulation-24
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.