Paragraph 114 Bridge central counterparty: reportI1I2

Where the Bank transfers all or part of a CCP’s business to a bridge central counterparty, the Bank must report to the Chancellor of the Exchequer about the activities of the bridge central counterparty.

The first report must be made as soon as is reasonably practicable after the end of one year beginning with the date of the first transfer to the bridge central counterparty.

A report must be made as soon as is reasonably practicable after the end of each subsequent year.

The Chancellor of the Exchequer must lay a copy of each report under sub-paragraph (2) or (3) before Parliament.

The Bank must comply with any request of the Treasury for a report dealing with specified matters in relation to a bridge central counterparty.

A request under sub-paragraph (5) may include provision about—