1.Section 205 amends the bank levy definition of high quality liquid assets (HQLA) to put beyond doubt that HQLA for bank levy purposes are identical in concept to the regulatory definition of assets qualifying for the Prudential Regulation Authority's liquid assets buffer. The section has effect from 1 January 2011.
Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.
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