Amendments — Bank Resolution (Recapitalisation) Act 2025

Proposed amendments

48 amendments across 8 provisions

New clauses & schedules 3

Amendment #10021119#10021119No decisionNew clause / schedule

Amendment text

To move the following Clause—
“MREL limits in line with inflation

Only the heading is published via the Bills API — the full text of this new clause/schedule is set out in the marshalled Amendment Paper.

Stage: Report stage
Type: AddClauseOrSchedule

Amendment #10021120#10021120No decisionNew clause / schedule

Amendment text

To move the following Clause—
“Linking FSCS to inflation

Only the heading is published via the Bills API — the full text of this new clause/schedule is set out in the marshalled Amendment Paper.

Stage: Report stage
Type: AddClauseOrSchedule

Amendment #10021121#10021121No decisionNew clause / schedule

Amendment text

To move the following Clause—
“Credit Unions accessing Bank of England liquidity facilities

Only the heading is published via the Bills API — the full text of this new clause/schedule is set out in the marshalled Amendment Paper.

Stage: Report stage
Type: AddClauseOrSchedule

Clause 1 31

Amendment #10015063#10015063WithdrawnAmends text

Amendment text

Clause 1, page 2, line 3, at end insert—
“(6) When the Bank of England exercises its power in subsection (1), the Bank must make a report to the Chancellor of the Exchequer within 28 days of the date of any recapitalisation payment being made.

Stage: Committee stage
Type: EditBillBody
Clause: 1

Amendment #10015064#10015064Not movedAmends text

Amendment text

Clause 1, page 2, line 3, after “2009)”, insert “excluding institutions with minimum requirements for own funds and eligible liabilities on the basis of a bail-in resolution strategy as may be identified by the Bank of England from time to time.”

Stage: Committee stage
Type: EditBillBody
Clause: 1

Amendment #10015098#10015098WithdrawnAmends text

Amendment text

Clause 1, page 1, line 20, at end insert—
“(2A) The Bank may not exercise the power in subsection (1) more than once in respect of the same financial institution without the consent of the Treasury.”

Stage: Committee stage
Type: EditBillBody
Clause: 1

Amendment #10015099#10015099WithdrawnAmends text

Amendment text

Clause 1, page 2, line 3, at end insert—
“(6) Use of the Financial Services Compensation Scheme for bank recapitalisation and associated costs must not reduce bank depositors’ entitlement to the full amount of Deposit Guarantee Insurance.”

Stage: Committee stage
Type: EditBillBody
Clause: 1

Amendment #10015100#10015100Not movedAmends text

Amendment text

Clause 1, page 1, line 20, at end insert—
“(2A) The Bank may not exercise the power in subsection (1) in respect of a financial institution which meets the condition in subsection (2B) without the consent of the Treasury.

Stage: Committee stage
Type: EditBillBody
Clause: 1

Amendment #10015101#10015101WithdrawnAmends text

Amendment text

Stage: Committee stage
Type: EditBillBody
Clause: 1

Amendment #10015103#10015103WithdrawnAmends text

Amendment text

Clause 1, page 1, line 20, at end insert—
“(2A) The Bank of England may only exercise the power in subsection (1) if it assesses that the use of the power would support the public interest, which may include but need not be limited by—

The Bills API publishes only the tabling instruction here, not the inserted text itself — the full wording is set out in the marshalled Amendment Paper.

Stage: Committee stage
Type: EditBillBody
Clause: 1

Amendment #10015104#10015104WithdrawnAmends text

Amendment text

Clause 1, page 1, line 20, at end insert—
“(2A) The Bank may not exercise the power in subsection (1) without the consent of the Treasury.”

Stage: Committee stage
Type: EditBillBody
Clause: 1

Amendment #10015105#10015105Not movedAmends text

Amendment text

Clause 1, page 2, line 3, at end insert—
“214F Recapitalisation payments: reporting

Stage: Committee stage
Type: EditBillBody
Clause: 1

Amendment #10015106#10015106WithdrawnRemoves provision

Amendment text

Clause 1, page 1, line 18, leave out lines 18 to 20

Stage: Committee stage
Type: DeleteClauseOrSchedule
Clause: 1

Amendment #10015108#10015108WithdrawnAmends text

Amendment text

Clause 1, page 1, line 8, after “institution” insert “that is not required to hold Minimum Requirement for Own Funds and Eligible Liabilities (MREL) or is below a level of total assets of value of £15 billion index linked from 1 January 2016”

Stage: Committee stage
Type: EditBillBody
Clause: 1

Amendment #10015111#10015111WithdrawnAmends text

Amendment text

Clause 1, page 1, line 22, at end insert—
“(3A) Before exercising the power in subsection (1), the Bank and the scheme manager must assess whether they consider that there should be a clawback of executive pay and bonuses from the previous 12 months.”

Stage: Committee stage
Type: EditBillBody
Clause: 1

Amendment #10015114#10015114Not movedAmends text

Amendment text

Clause 1, page 1, line 20, at end insert—
“(2A) The Bank of England must not require the scheme manager to make a recapitalisation payment if it has directed the financial institution to maintain a Minimum Requirement for Own Funds and Eligible Liabilities (MREL) or issue eligible liabilities.”

Stage: Committee stage
Type: EditBillBody
Clause: 1

Amendment #10015115#10015115Not movedAmends text

Amendment text

Clause 1, page 2, line 3, after “2009)”, insert “that is not required to hold the Minimum Requirement for own funds and Eligible Liabilities (MREL) above minimum capital requirements.”

Stage: Committee stage
Type: EditBillBody
Clause: 1

Amendment #10015117#10015117WithdrawnAmends text

Amendment text

Clause 1, page 2, line 3, at end insert—
“214F Engagement with Parliamentary Committees

Stage: Committee stage
Type: EditBillBody
Clause: 1

Amendment #10015211#10015211WithdrawnAmends text

Amendment text

Clause 1, page 2, line 3, at end insert—
“(6) When the Bank exercises its power in subsection (1), the Bank must make a report to the Chancellor of the Exchequer within 28 days of the date of any recapitalisation payment being made.

Stage: Report stage
Type: EditBillBody
Clause: 1

Amendment #10015252#10015252Withdrawn before debateAmends text

Amendment text

[Withdrawn]
Clause 1, page 2, line 3, at end insert—

The Bills API publishes only the tabling instruction here, not the inserted text itself — the full wording is set out in the marshalled Amendment Paper.

Stage: Report stage
Type: EditBillBody
Clause: 1

Amendment #10015290#10015290WithdrawnAmends text

Amendment text

Clause 1, page 1, line 22, at end insert—
“(3A) Before exercising the power in subsection (1), the Bank and the scheme manager must assess whether they consider that there should be a clawback of any part of executive remuneration from the previous 12 months.”

Stage: Report stage
Type: EditBillBody
Clause: 1

Amendment #10015444#10015444DisagreedAmends text

Amendment text

Clause 1, page 2, line 3, at end insert—
“(6) As a secondary objective to the special resolution objectives in section 4 of the Banking Act 2009, when discharging its functions in respect of the exercise of recapitalisation payments under this section, the Bank of England must observe the competitiveness and growth objective.

Stage: Report stage
Type: EditBillBody
Clause: 1

Amendment #10015445#10015445WithdrawnAmends text

Amendment text

Clause 1, page 2, line 3, at end insert—
“(6) When discharging its functions in respect of the exercise of recapitalisation payments under this section, the Bank of England must observe the competitiveness and growth objective.

Stage: Report stage
Type: EditBillBody
Clause: 1

Amendment #10015476#10015476AgreedAmends text

Amendment text

Clause 1, page 1, line 25, at end insert—
“(4A) In subsection (2)(b), “relevant person” means—

The Bills API publishes only the tabling instruction here, not the inserted text itself — the full wording is set out in the marshalled Amendment Paper.

Stage: Report stage
Type: EditBillBody
Clause: 1

Amendment #10015477#10015477AgreedNew clause / schedule

Amendment text

After Clause 1, insert the following new Clause—
“Notification to Parliamentary Committees

Only the heading is published via the Bills API — the full text of this new clause/schedule is set out in the marshalled Amendment Paper.

Stage: Report stage
Type: AddClauseOrSchedule
Clause: 1

Amendment #10015478#10015478AgreedAmends text

Amendment text

Clause 1, page 1, line 18, leave out “another” and insert “a relevant”

Stage: Report stage
Type: EditBillBody
Clause: 1

Amendment #10015480#10015480AgreedNew clause / schedule

Amendment text

After Clause 1, insert the following new Clause—
“Reporting

Only the heading is published via the Bills API — the full text of this new clause/schedule is set out in the marshalled Amendment Paper.

Stage: Report stage
Type: AddClauseOrSchedule
Clause: 1

Amendment #10015640#10015640AgreedAmends text

Amendment text

Clause 1, page 1, line 20, at end insert—
“(2A) The Bank of England must not require the scheme manager to make a recapitalisation payment if it has directed the financial institution to maintain an end-state Minimum Requirement for Own Funds and Eligible Liabilities (MREL) exceeding minimum capital requirements.”

Stage: Report stage
Type: EditBillBody
Clause: 1

Amendment #10018891#10018891Agreed on divisionRemoves provision

Amendment text

Clause 1, page 1, line 21, leave out subsection (3)

Stage: Committee stage
Type: DeleteClauseOrSchedule
Clause: 1

Amendment #10018975#10018975Not movedAmends text

Amendment text

Clause 1, page 1, line 24, at end insert—
“(3A) No application to the scheme manager for recapitalisation payments may be considered by the Bank of England for a financial institution which has been directed to maintain an end-state Minimum Requirement for Own Funds and Eligible Liabilities (MREL) exceeding minimum capital requirements, unless permission has been given, through regulations, by the Chancellor of the Exchequer.

Stage: Committee stage
Type: EditBillBody
Clause: 1

Amendment #10018976#10018976WithdrawnAmends text

Amendment text

Clause 1, page 2, line 3, at end insert—
“(5A) As a further objective to the special resolution objectives in section 4 of the Banking Act 2009, when discharging its functions in respect of the exercise of recapitalisation payments under this section, the Bank of England must observe the competitiveness and growth objective.

Stage: Committee stage
Type: EditBillBody
Clause: 1

Amendment #10021123#10021123No decisionAmends text

Amendment text

Clause 1, page 1, line 20, at end insert—
“(2A) The Bank of England must not require the scheme manager to make a recapitalisation payment if it has directed the financial institution to maintain an end-state Minimum Requirement for Own Funds and Eligible Liabilities (MREL) exceeding minimum capital requirements.”

Stage: Report stage
Type: EditBillBody
Clause: 1

Amendment #10021360#10021360No decisionAmends text

Amendment text

Stage: Report stage
Type: EditBillBody
Clause: 1

Amendment #10021361#10021361No decisionAmends text

Amendment text

Clause 1, page 1, line 22, at end insert—
“(3A) No application to the scheme manager for recapitalisation payments may be considered by the Bank of England for a financial institution which has been directed to maintain an end-state Minimum Requirement for Own Funds and Eligible Liabilities (MREL) exceeding minimum capital requirements, unless permission has been given, through regulations, by the Chancellor of the Exchequer.

Stage: Report stage
Type: EditBillBody
Clause: 1

Clause 2 4

Amendment #10015061#10015061Not movedAmends text

Amendment text

Clause 2, page 2, line 20, after “up” insert “or from the management or shareholders of the institution being sold or wound up”

Stage: Committee stage
Type: EditBillBody
Clause: 2

Amendment #10015062#10015062WithdrawnAmends text

Amendment text

Clause 2, page 2, line 20, at end insert—
“(aa) on a winding up of the institution, any recapitalisation payment is to be treated as a debt of the institution and paid out of the institution’s assets in preference to all other claims except any prescribed fees or expenses of the official receiver;”

Stage: Committee stage
Type: EditBillBody
Clause: 2

Amendment #10015212#10015212WithdrawnNew clause / schedule

Amendment text

After Clause 2, insert the following new Clause—
“Treatment of recapitalisation payments on a winding up

Only the heading is published via the Bills API — the full text of this new clause/schedule is set out in the marshalled Amendment Paper.

Stage: Report stage
Type: AddClauseOrSchedule
Clause: 2

Amendment #10015479#10015479AgreedNew clause / schedule

Amendment text

After Clause 2, insert the following new Clause—
“Code of practice

Only the heading is published via the Bills API — the full text of this new clause/schedule is set out in the marshalled Amendment Paper.

Stage: Report stage
Type: AddClauseOrSchedule
Clause: 2

Clause 3 2

Amendment #10015112#10015112Not movedAmends text

Amendment text

Clause 3, page 2, line 41, at end insert—
“(5C) The compensation scheme may not allow the scheme manager to impose levies on liable financial institutions in relation to recapitalisation payments under 214E in financial years following that in which the recapitalisation payments occurred without the consent of the Treasury.”

Stage: Committee stage
Type: EditBillBody
Clause: 3

Amendment #10015113#10015113Not movedAmends text

Amendment text

Clause 3, page 2, line 36, at end insert “nor on financial institutions that the Bank of England has directed to maintain a Minimum Requirement for Own Funds and Eligible Liabilities (MREL) or issue eligible liabilities.”

Stage: Committee stage
Type: EditBillBody
Clause: 3

Clause 4 2

Amendment #10015102#10015102WithdrawnAmends text

Amendment text

Clause 4, page 3, line 15, at end insert—
“(2A) In section 4 (special resolution objectives), at the end of subsection (9) insert—

The Bills API publishes only the tabling instruction here, not the inserted text itself — the full wording is set out in the marshalled Amendment Paper.

Stage: Committee stage
Type: EditBillBody
Clause: 4

Amendment #10015253#10015253Not movedAmends text

Amendment text

Clause 4, page 3, line 15, at end insert—
“(2A) In section 4 (special resolution objectives), after subsection (9) insert—

The Bills API publishes only the tabling instruction here, not the inserted text itself — the full wording is set out in the marshalled Amendment Paper.

Stage: Report stage
Type: EditBillBody
Clause: 4

Clause 5 1

Amendment #10021122#10021122No decisionAmends text

Amendment text

Clause 5, page 4, line 14, at end insert—
“(2B) The code must include guidance to the Bank of England on the exercise of its functions in relation to building societies to ensure that, in circumstances where the use of a recapitalisation power may result in demutualisation, due consideration is given to the impact of such demutualisation on members and on the mutuals sector.

Stage: Report stage
Type: EditBillBody
Clause: 5

Clause 8 1

Amendment #10018890#10018890AgreedRemoves provision

Amendment text

Clause 8, page 6, line 1, leave out subsection (5)

Stage: Committee stage
Type: DeleteClauseOrSchedule
Clause: 8

Other amendments 4

Amendment #10015610#10015610Not movedAmends text

Amendment text

After inserted subsection (5) insert—
“(5A) Unless already covered by the final report under subsection (3), the Bank must make a further report to the Chancellor of the Exchequer within three months of the date of the sale to a private sector purchaser of the financial institution to which the recapitalisation payment relates, or the sale, closure or winding up of the financial institution or bridge bank to which the recapitalisation payment relates, complying with such requirements as to content as the Treasury may specify.”

Stage: Report stage
Type: EditBillBody

Amendment #10015659#10015659AgreedAmends text

Amendment text

In inserted subsection (3), leave out “The reference to the Treasury Committee of the House of Commons” and insert “A reference to a committee in subsection (2)”

Stage: Report stage
Type: EditBillBody

Amendment #10015660#10015660AgreedAmends text

Amendment text

In inserted subsection (4), at end insert “, in relation to committees of the House of Commons, and
(b) the Chairman of Committees of the House of Lords, in relation to committees of the House of Lords.”

Stage: Report stage
Type: EditBillBody

Amendment #10015661#10015661AgreedAmends text

Amendment text

In inserted subsection (2) leave out paragraph (b) and insert—
“(b) the Financial Services Regulation Committee of the House of Lords”

Stage: Report stage
Type: EditBillBody

EnactedBank Resolution (Recapitalisation) Act 2025

New clauses & schedules 3

Clause 1 31

Clause 2 4

Clause 3 2

Clause 4 2

Clause 5 1

Clause 8 1

Other amendments 4