Details of the Section
2.Subsection (1) amends Paragraph 70, Schedule 19, Finance Act 2011 to confirm that the bank levy definition of HQLA mirrors the regulatory definition of assets that are eligible for inclusion in a firm’s regulatory liquid assets buffer.
3.Subsection (2) provides that the changes made by subsection (1) are to be treated as always having had effect in relation to chargeable periods ending on or after 1 January 2011.