Bank Resolution (Recapitalisation) Bill undergoes further scrutiny in Lords

The Bank Resolution (Recapitalisation) Bill aims to provide the Bank of England with more flexibility in how it manages the failure of small banks.

Detailed scrutiny

Report stage is an extra chance for members to closely scrutinise elements of the bill and make changes.   

Proposed changes  

Members speaking at report stage put forward amendments (PDF) (changes) to the bill on subjects including: 

• Bank of England reporting on recapitalisation payments
• engagement with parliamentary committees.

Votes

There were two divisions (votes) on proposed changes to the bill:

Members voted to agree on an amendment relating to the Bank of England reporting recapitalisation payments.

Another change regarding notifying relevant Parliamentary Committees when
recapitalisation payments are made was voted on but disagreed to by members of the House.

Government amendments

The government also put forward amendments to the bill following earlier proposals by Lords members. The government made changes on expenses incurred by the Bank of England, the Treasury, a bridge bank or an asset management vehicle, which are covered by recapitalisation payments from the Financial Services Compensation Scheme.

Catch up

• Watch on Parliament TV.
  
• Read the Lords Hansard transcript.

Explore further information

Find out more about the bill in the House of Lords Library briefing.

Next steps

What's happened so far

Committee stage

Line by line examination of the bill took place during committee stage on Thursday 5 and Tuesday 10 September.

Second reading

Second reading, a full debate on the key principles of the bill, took place on Tuesday 30 July.

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