PART 5Resolution plans

CHAPTER 5Information and records for resolution planning

Records of financial contracts58

1

The Bank may give directions to a relevant person in relation to maintaining detailed records of financial contracts39 to which the relevant person is a party.

2

A “relevant person” is—

a

an institution authorised by the PRA or FCA; or

b

an undertaking set up in the United Kingdom which is a subsidiary of an institution authorised by the PRA or FCA or in another EEA State; or

c

the EEA parent undertaking.

3

A direction given by the Bank may—

a

require records of financial contracts to be maintained;

b

specify the details or kinds of detail which are to be recorded;

c

require records of financial contracts to be produced at the request of the Bank;

d

specify a period of time within which a relevant person is to be capable of producing records (“a time-limit”);

e

specify different time-limits for different kinds of financial contract.

4

Directions may be given with general effect or with respect to a particular relevant person or class of relevant persons, but may not specify different time-limits for different relevant persons or classes of relevant person.