| Title:
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BANKING BILL
EXPLANATORY NOTES |
| By: |
Great Britain: Parliament: House of Commons |
| Format: |
Paperback |
| List price:
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£8.00 |
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| ISBN 10: |
0215803426 |
| ISBN 13: |
9780215803429 |
| Publisher: |
TSO |
| Pub. date: |
7 October, 2008 |
| Series: |
House of Commons Bills Session 2007-08, 147-EN |
| Pages: |
74 |
| Synopsis: |
This Bill contains measures to establish a permanent special resolution regime (SRR) providing the Tripartite Authorities (The Treasury, the Bank of England and the Financial Services Authority) with tools to deal with banks that get into financial difficulties. The SRR has three stabilisation options: transfer to a private sector purchaser, transfer to a bridge bank and transfer to temporary public sector ownership. Part 2 deals with the other SRR tool, a new bank insolvency procedure. Part 3 covers bank administration, and Part 4 the Financial Services Compensation Scheme. The Bank of England's role in the oversight of payment systems is formalised in Part 5 (inter-bank payment systems). Part 6 addresses the issuing of bank notes in Scotland and Northern Ireland by a limited number of commercial banks, and Part 7 includes provisions relating to the governance of the Bank of England. |
| Publication: |
UK |
| Imprint: |
Stationery Office Books |
| Returns: |
Non-returnable |