Regulation 7 Treasury licences: purposes

After Part 1C of Schedule 5 (Treasury licences: purposes) insert—

“PART 1D

Foreign exchange reserve and asset management services

Humanitarian assistance activity

9U.

To enable anything to be done in connection with the performance of any humanitarian assistance activity.

Financial regulation

9V.

(1)

To enable anything to be done by, or on behalf of, a relevant financial authority for the purposes of the functions of that authority.

(2)

In sub-paragraph (1), “relevant financial authority” means authorities involved in the regulation of financial services in the United Kingdom, including the Financial Conduct Authority, the Prudential Regulation Authority and the Bank of England.

Financial stability

9W.

To enable anything to be done by a person, following consultation by that person (or a person acting on their behalf) with the Bank of England, that is necessary or expedient in order to protect or enhance the stability of the financial system of the United Kingdom.

Safety and soundness of a firm

9X.

To enable anything to be done by a person, following consultation by that person (or a person acting on their behalf) with the relevant supervising authority or authorities, that is necessary or expedient in order to promote the safety and soundness of a firm which is supervised by the Bank of England, the Prudential Regulation Authority or the Financial Conduct Authority.

Extraordinary situation

9Y.

To enable anything to be done to deal with an extraordinary situation.”