Powers of the authorities under the special resolution regime

Copyright © 2025 LexisNexis

Published by a LexisNexis Restructuring & Insolvency expert

Practice notes

Powers of the authorities under the special resolution regime

Copyright © 2025 LexisNexis

Published by a LexisNexis Restructuring & Insolvency expert

Practice notes

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In this Practice Note, ‘bank’ means a UK institution which has permission under Part 4A of the Financial Services and Markets Act 2000 (FSMA 2000) to carry on the regulated activity of accepting deposits (within the meaning of FSMA 2000, s 22, taken with Schedule 2 and any order under FSMA 2000, s 22) and any references to ‘bank’ below include a resolution company. Following the failure of Silicon Valley Bank, the government consulted on further reforms and in May 2025 enacted the Bank Resolution (Recapitalisation) Act 2025 (see: LNB News 19/07/2024 30). Note that these reforms are not limited to smaller banks and will apply to banks of any size (provided they satisfy the other entry conditions) once the commencement SI is issued.

Part 1 of the Banking Act 2009 (BA 2009) also applies to building societies and investment firms with modifications detailed in BA 2009. Central counterparties now have their own special resolution regime under the Financial Services and Markets Act 2023 (FSMA 2023).

Powers of the authorities

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Jurisdiction(s):

United Kingdom

Key definition:

authorities definition

What does authorities mean?

judicial decisions or opinions of authors of repute used as grounds of statements of law;

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