PART 9 U.K.Minimum requirement for own funds and eligible liabilities

CHAPTER 1 U.K.Determination of minimum requirement for an institution

Duties of the Bank in relation to minimum requirement U.K.

122.—(1) The Bank must exercise the powers conferred by section 3A of the Banking Act 2009 M1 (removal of impediments to the exercise of stabilisation powers etc)—

(a) to ensure that a relevant institution is required at all times to maintain a minimum requirement for own funds and eligible liabilities F1 ...; and

(b) with the object of ensuring that at all times the institution meets the minimum requirement specified in a direction given for that purpose.

F2 (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1 Words in art. 122(1)(a) omitted (28.12.2020) by virtue of The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(2), 45

F2 Art. 122(2) omitted (31.12.2020) by virtue of The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 3 para. 67; 2020 c. 1, Sch. 5 para. 1(1)

Marginal Citations

M1 Section 3A was inserted by S.I. 2014/3329.