Article 9 Exclusion on grounds of avoidance of a decrease in value under section 48B(12)(d) of the Banking Act 2009F5

United Kingdom

F1The resolution authority may exclude a liability or class of liabilities from a bail-in where such exclusion would avoid value destruction so that the holders of the non-excluded liabilities would be better off than they would be if the former were bailed-in.

In order to assess whether the condition in paragraph 1 is met, F2the resolution authority shall compare and evaluate the outcome for all creditors resulting from a potential bail-in and non-bail-in, in accordance with—

F3(a)

any regulatory technical standards referred to in section 6E(10)(a) and 62A(2A)(a) of the Act or any regulatory technical standards contained in a Commission Regulation adopted by the European Commission under Article 49(5) of Directive 2014/59/EU so far as they are F4assimilated law; and

(b)

any technical standards made under section 6E(11) or 62A(2B) of the Act or article 158(3) of the Bank Recovery and Resolution (No. 2) Order 2014.

Annotations

Textual amendments

F1: Words in Art. 9(1) substituted (31.12.2020) by The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 5 para. 2(10)(b); 2020 c. 1, Sch. 5 para. 1(1)
F2: Words in Art. 9(2) substituted (31.12.2020) by The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 5 para. 2(10)(c)(i); 2020 c. 1, Sch. 5 para. 1(1)
F3: Words in Art. 9(2) substituted (31.12.2020) by The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 5 para. 2(10)(c)(ii); 2020 c. 1, Sch. 5 para. 1(1)
F4: Word in Art. 9(2)(a) substituted (27.2.2025) by The Retained EU Law (Revocation and Reform) Act 2023 (Consequential Amendments) Regulations 2025 (S.I. 2025/82), reg. 1(2), Sch. 9 para. 42
F5: Words in Art. 9 heading substituted (31.12.2020) by The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 5 para. 2(10)(a); 2020 c. 1, Sch. 5 para. 1(1)