xmlns:atom="http://www.w3.org/2005/Atom" xmlns:atom="http://www.w3.org/2005/Atom"
24. In section 89JA (resolution of UK branches of third-country institutions)(1)—
(a)in subsection (8), in substituted section 48B(10)—
(i)after paragraph (e) insert—
“(ea)liabilities with a remaining maturity of less than 7 days owed by the relevant institution to a recognised central counterparty, an EEA central counterparty or a third country central counterparty;”;
(ii)after paragraph (i) insert—
“(j)liabilities owed by the relevant institution to another institution or a banking group company which (in either case)—
(i)is part of the same resolution group as the relevant institution, and
(ii)is not itself a resolution entity,
where the liabilities do not rank below ordinary non-preferential debts under the hierarchy of claims in normal insolvency proceedings.”;
(b)in the same subsection in substituted section 48B(12) for “eligible” in both places it occurs substitute “bail-in”;
(c)in the same subsection in substituted section 48B(13)—
(i)for “an eligible liability” in each place it occurs substitute “a bail-in liability”;
(ii)for “the eligible liabilities” substitute “the bail-in liabilities”.
Section 81B was inserted by S.I. 2016/1239.