Banking Act 2009

246 Information U.K.

(1) The Bank of England may disclose information that it thinks relevant to the financial stability of—

(a) individual financial institutions, or

(b) one or more aspects of the financial systems of the United Kingdom.

(2) Information about the business or other affairs of a specified or identifiable person may be disclosed under subsection (1) only to—

(a) the Treasury;

[F1 (b) the Prudential Regulation Authority;

(ba) the Financial Conduct Authority;]

(c) the scheme manager of the Financial Services Compensation Scheme (established under Part 15 of the Financial Services and Markets Act 2000);

[F2 (ca) the Payment Systems Regulator (established under section 40 of the Financial Services (Banking Reform) Act 2013);]

(d) an authority in a country or territory outside the United Kingdom which exercises functions similar to those of the Treasury, the Bank of England[F3 , the Prudential Regulation Authority or the Financial Conduct Authority] in relation to financial stability;

(e) the European Central Bank.

(3) This section—

(a) overrides a contractual or other requirement to keep information in confidence, and

(b) is without prejudice to any other power to disclose information.

Textual Amendments

F1 S. 246(2)(b)(ba) substituted for s. 246(2)(b) (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 17 para. 58(a) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F2 S. 246(2)(ca) inserted (1.3.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 95, 148(5); S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1

F3 Words in s. 246(2)(d) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 17 para. 58(b) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

Commencement Information

I1 S. 246 in force at 21.2.2009 by S.I. 2009/296, art. 3, Sch. para. 8