BoE moves to prepare UK banks for EU recovery and resolution rules

bank-of-england-head-on
The Bank of England

The Bank of England (BoE) has called on financial companies to amend legal provisions governing their liabilities to forewarn foreign creditors they will be bailed in by the UK Prudential Regulation Authority (PRA) if a debtor is wound down or restructured.

The proposed rule features in a consultation paper published today by the PRA, which banks have until September 19 to respond to. The paper is part of a bid to overhaul the UK resolution framework to make it compliant with the EU Bank

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.