Paragraph 88 Removal of procedural impediments to application of bail-in tool

Article 155 (requirement to increase or remove limit on share capital) is amended as follows.

In paragraph (1)(b) for “EEA” substitute “UK”.

In paragraph (3) for “action” substitute “tools and resolution powers”.

In paragraph (5) for the words from “the amounts” to the end substitute—

“the following amounts—

(a)

the amount by which the Bank has assessed that Common Equity Tier 1 instruments must be reduced and relevant capital instruments must be written down or converted pursuant to section 6B, 12AA, 48Y or 81AA of the Banking Act 2009; and

(b)

the aggregate amount assessed by the Bank pursuant to section 6E or 48X of that Act.”.

In paragraph (6) omit the words from “or when” to the end.