{
  "url": "https://openlegislation.uk/draft-bank-recovery-and-resolution-order-2014/article-85",
  "json_url": "https://openlegislation.uk/draft-bank-recovery-and-resolution-order-2014/article-85.json",
  "legislation": "ukdsi/2014/9780111123782",
  "legislation_title": "The Bank Recovery and Resolution Order 2014",
  "legislation_url": "https://openlegislation.uk/draft-bank-recovery-and-resolution-order-2014",
  "path": "article/85",
  "kind": "article",
  "number": "85",
  "heading": "Duty of Bank of England to notify Treasury",
  "text": "After section 78 insert—\n“Pre-conditions for financial assistance: duty of Bank to give information\n78A. (1) The Treasury may at any time require the Bank of England to inform them in writing whether or not a condition for financial assistance has been met in relation to a particular bank.\n(2) “Condition for financial assistance” means a condition specified in—\n(a) Article 37(10)(a) (financial assistance through government stabilisation tools), or\n(b) Article 44(5)(a) (contributions to institution from resolution financing arrangement where eligible liabilities have been excluded from bail-in),\nof the recovery and resolution directive.\n(3) If the Bank of England seeks the Treasury’s consent to the making of a mandatory reduction instrument or the exercise of a stabilisation power in accordance with section 78, the Bank must notify the Treasury in writing—\n(a) whether or not the proposals involve action in relation to which a condition for financial assistance applies, and\n(b) if the proposals do involve such action, whether or not the condition in question has been met.”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2014/9780111123782/article/85",
    "retrieved_at": "2026-10-30T15:11:34.801084+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}