Member

79: Clause 17, page 21, line 34, leave out subsections (2) to (11) and insert— “(2) In section 3B (regulatory principles to be applied by both regulators), in subsection (1), at the end insert—“(i) the need to assess the impact on the taxpayer of any provision of backstop arrangements by the Bank of England to private stablecoin.””Member’s explanatory statement This probing amendment would replace the removal of the regulatory-principles duties in Clause 17 with a new “have regard” to the risks to taxpayers should the Bank of England provide a liquidity backstop to private stablecoin.