Bail in UK Law
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...
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...
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 ...
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 ...
FCA publishes IFPRU modification by consent for bail-in
FCA has published a modification by consent for firms subject to the Prudential Sourcebook for Investment Firms (IFPRU). Currently, the rules in IFPRU 11.6 that transposed Article 55 of the Recover...
Contractual Recognition of Bail-In – Are You Ready?
The aim of the EU Bank Recovery and Resolution Directive (the “BRRD”) is to establish a framework for the recovery and resolution of EU credit institutions and significant investment firms and to e...
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...
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...
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...
- Contractual Recognition Of Bail-In
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