TRUSTPOLITICS
M

Member

Speaking in the House of Lords on 4 November 2024

Debate

Bank Resolution (Recapitalisation) Bill [HL]

Contribution

I now turn to Amendment 16, tabled by the noble Baroness, Lady Noakes. This amendment seeks to introduce a new objective into the special resolution regime to ensure that costs to the Financial Services Compensation Scheme are minimised when the new mechanism is used. The effect of this amendment would be to require the Bank of England to ensure it draws down as little as possible from the Financial Services Compensation Scheme when deploying the new mechanism.
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