Bail in UK Law
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Contractual Recognition of Bail-In Powers
Not just another clause for banks to add to their contracts, the compulsory inclusion of references to new bail-in powers in certain contracts will focus customers' minds on the ability of resoluti...
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FMLC Publishes Response on Bail-in Powers
In response to a consultation by HM Treasury, the UK’s Financial Markets Law Committee (FMLC) published a letter on June 4 relating to the bail-in powers introduced by the Financial Services (Banki...
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PRA publishes modification by consent for bail-in
PRA has transposed Article 55 of the Bank Recovery and Resolution Directive (BRRD) through the rules in the Contractual Recognition of Bail-in part of the PRA Rulebook. The rules require firms and ...
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AFME publishes model BRRD clause for bail-in recognition
AFME has published a model clause for the contractual recognition of bail-in. It is for use by UK issuers of New York law governed debt securities who are subject to the requirements of article 55 ...
- Contractual Recognition Of Bail-In
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Contractual Recognition of Bail-In - EBA publishes Final Draft RTS but practical difficulties remain
Following our article on the European Banking Authority's (EBA) consultation paper on the contractual recognition of bail-in, and industry responses to it, EBA has published the Final Draft Regula...
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The UK Contractual Recognition Of Bail-In Rules: Partial Delay To Implementation
On 25 November 2015, the Prudential Regulation Authority (PRA) published a ‘waiver by consent’ in relation to the contractual recognition of bail-in requirements. To the extent that it would be imp...
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SRB communication on approach to eligibility of UK law instruments without bail-in clauses after Brexit
On 22 March 2021, the Single Resolution Board (SRB) issued a communication on its approach to liabilities governed by UK law without a contractual bail-in recognition clause as eligible for the min...
- Contractual Recognition Of Bail-In Powers
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UK Resolution Authority Provides Clarity on Impact of LIBOR Transition on Bail-In and Stays Clauses
Following the letter published on December 18, 2019, to the Chair of the Working Group on Sterling Risk-Free Reference Rates, which provided clarification on the impact that the LIBOR transition is...
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