This section has no associated Explanatory Memorandum
89. After article 156 insert—U.K.
“PART 11AU.K.Contractual recognition of bail-in
Contractual recognition of bail-in: technical standards
156A.—(1) The Bank may make technical standards relating to requirements concerning the contractual recognition of bail-in.
(2) Technical standards under paragraph (1) may include provision specifying—
(a)liabilities that must be excluded from these requirements; or
(b)the content of the contractual term that is comprised in these requirements.
(3) In exercising its functions under this article the Bank must take into account the different business models of banks.”.
Commencement Information
I1Sch. 3 para. 89 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)