Amendment of the Bank of England Act 1998 (Macro-prudential Measures) Order 20132
1
The Bank of England Act 1998 (Macro-prudential Measures) Order 20134 is amended as follows.
2
In article 1(2)—
a
in the definition of “FSMA cost benefit analysis”, after “Part 9A” insert “or section 192XA”5;
b
after the definition of “FSMA cost benefit analysis” insert—
“holding company” means a financial holding company or a mixed financial holding company;
c
omit the definition of “mixed financial holding company”.
3
At the start of article 2(2), insert “Subject to paragraph (3),”.
4
In the table in article 2(2), after “UK banks” each time it occurs insert “, or their holding companies,”.
5
In the table in article 2(2), after “UK investment firms which are PRA-authorised persons” each time it occurs insert “, or their holding companies,”.
6
In the table in article 2(2), after “on such UK investment firms” insert “, or their holding companies,”.
7
After article 2(2), insert—
3
Where a measure listed in the table is applied to the holding company of a UK bank or of a UK investment firm which is a PRA-authorised person, the measure may only be applied to that holding company on, or by reference to, a consolidated basis.