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.
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