http://www.legislation.gov.uk/ukpga/2009/1/section/78ABanking Act 2009An Act to make provision about banking.texttext/xmlenStatute Law Database2026-02-20Expert Participation2026-01-19 Banking Act 2009s. 4(8A) (8B)Financial Services Act 2012s. 96(3)Sch. 20s. 122(3)Banking Act 2009s. 8(2)(d) and wordFinancial Services Act 2012s. 96(4)(b)Sch. 20s. 122(3)Banking Act 2009s. 3(5)The Credit Institutions and Investment Firms (Miscellaneous Definitions) (Amendment) Regulations 2026reg. 19(4)reg. 1(2) Part 1Chapter 3 78A1The 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.2“Condition for financial assistance” means a condition specified in—aArticle 37(10)(a) (financial assistance through government stabilisation tools), orbArticle 44(5)(a) (contributions to institution from resolution financing arrangement where bail-in liabilities have been excluded from bail-in),of the recovery and resolution directive.3If 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—awhether or not the proposals involve action in relation to which a condition for financial assistance applies, andbif the proposals do involve such action, whether or not the condition in question has been met.4This section does not apply where the Bank of England has required, or decided to require, a recapitalisation payment under section 214E of the Financial Services and Markets Act 2000.Pt. 1 restricted (7.1.2010) by Banking Act 2009 (Exclusion of Insurers) Order 2010 (S.I. 2010/35), arts. 1, 2Pt. 1: power to amend conferred (1.3.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 17(3)(f), 148(5); S.I. 2014/377, art. 2(1)(b), Sch. Pt. 2S. 78A inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 85Pt. 1 Ch. 3 formed from ss. 4-83 (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 7Word in s. 78A(2)(b) substituted (28.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(2), 12S. 78A(4) inserted (16.7.2025) by Bank Resolution (Recapitalisation) Act 2025 (c. 15), ss. 7(7), 8(2); S.I. 2025/872, reg. 2(g)