BoE has issued a policy statement on its power to direct institutions to address impediments to resolvability under the Banking Act 2009. It sets out the circumstances in which BoE would consider using its powers of direction, the process for giving a direction, the consequences of failing to comply with a direction and BoE’s approach to the use of its powers of direction. It also gives a summary of the feedback received by BoE to prior consultation. (Source: BoE Issues Statement on Resolution Planning)
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BoE issues statement on resolution planning
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