Banking Bill - HC 147 (Paperback)

This Bill contains measures to establish a permanent special resolution regime (SRR) providing the Tripartite Authorities (The Treasury, the Bank of England and the Financial Services Authority) with tools to deal with banks that get into financial difficulties. The SRR has three stabilisation options: transfer to a private sector purchaser; transfer to a bridge bank; and transfer to temporary public sector ownership.This book is divided into 8 parts: Part 1 deals with the special resolution regime (SRR); Part 2 deals with the other SRR tool, a new bank insolvency procedure; Part 3 covers bank administration; and Part 4 covers the Financial Services Compensation Scheme. The Bank of England's role in the oversight of payment systems is formalised in part 5 (inter-bank payment systems). Part 6 addresses the issuing of bank notes in Scotland and Northern Ireland by a limited number of commercial banks, and Part 7 includes provisions relating to the governance of the Bank of England.