Bank Resolution (Recapitalisation) Bill [HL] — Report — Amendment 2 — 4 Nov 2024 at 15:45
Moved by Baroness Vere of Norbiton
2: Clause 1, page 1, line 20, at end insert-“(2A) The Bank of England must not require the scheme manager to make a recapitalisation payment if it has directed the financial institution to maintain an end-state Minimum Requirement for Own Funds and Eligible Liabilities (MREL) exceeding minimum capital requirements.”Member’s explanatory statementThis amendment seeks to prohibit the use of FSCS funds to recapitalise large financial institutions, defined as those which have reached end-state MREL.
Ayes 247, Noes 125.
Party Summary
Votes by party, red entries are votes against the majority for that party.
What is Tell? '+1 tell' means that in addition one member of that party was a teller for that division lobby.
What is Turnout? This is measured against the total membership of the party at the time of the vote.| Party | Majority (Content) | Minority (Not-Content) | Turnout |
| Con | 158 (+2 tell) | 0 | 53.9% |
| Crossbench | 19 | 12 | 18.1% |
| DUP | 1 | 0 | 16.7% |
| Green | 1 | 0 | 50.0% |
| Judge | 1 | 0 | 11.1% |
| Lab | 0 | 104 (+2 tell) | 58.9% |
| LDem | 57 | 0 | 70.4% |
| Non-affiliated | 4 | 7 | 22.0% |
| PC | 2 | 0 | 100.0% |
| UUP | 2 | 0 | 66.7% |
| Total: | 245 | 123 | 46.4% |
All lords Eligible to Vote - sorted by party
Includes lords who were absent (or abstained) from this vote.