SCHEDULES
SCHEDULE 2Bail-in stabilisation option
PART 1Amendments of Banking Act 2009
Other amendments of the Act
I125
After section 80 insert—
80ATransfer for bail-in purposes: report
1
This section applies where the Bank of England makes one or more resolution instruments under section 12A(2) in respect of a bank.
2
The Bank of England must, on request by the Treasury, report to the Chancellor of the Exchequer about—
a
the exercise of the power to make a resolution instrument under section 12A(2),
b
the activities of the bank, and
c
any other matters in relation to the bank that the Treasury may specify.
3
In relation to the matters in subsection (2)(a) and (b), the report must comply with any requirements that the Treasury may specify.
4
The Chancellor of the Exchequer must lay a copy of each report under subsection (2) before Parliament.