Bank Resolution (Recapitalisation) Bill: call for evidence
28 January 2025
Do you have relevant expertise and experience or a special interest in the Bank Resolution (Recapitalisation) Bill [Lords], which is currently passing through Parliament?
If so, you can submit your views in writing to the House of Commons Public Bill Committee which is going to consider this Bill.
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The Public Bill Committee is now able to receive written evidence. The sooner you send in your submission, the more time the Committee will have to take it into consideration. The Public Bill Committee will scrutinise the Bill line by line. The Public Bill Committee will meet for the first time on Tuesday 11 February 2025 to consider the Bill and is expected to report by 5pm on Thursday 13 February. When the Committee concludes its consideration of the Bill it is no longer able to receive written evidence and it can conclude earlier than the expected deadline of 5.00pm on Thursday 13 February 2025. You are strongly advised to submit your written evidence as soon as possible. |
Aims of the Bill
The eight-clause bill, first introduced in the House of Lords, aims to enhance the UK’s regime for managing bank failures, termed resolution. Specifically, it would introduce a mechanism which would allow the Bank of England to recover the costs associated with recapitalising failing small banks through a levy on the banking sector.
An opposition amendment, passed on division during the House of Lords report stage, limited this new power to only applying to the recapitalisation of smaller banks.
The bill would require the Bank of England to reimburse the Financial Services Compensation Scheme for any surplus funds taken and require it to report to the Treasury, the Commons Treasury Committee and the Lords Financial Services Regulation Committee on the use of this mechanism.
The bill was considered by the Delegated Powers and Regulatory Reform Committee which raised no concerns.
Follow the progress of the Bank Resolution (Recapitalisation) Bill [Lords]
The Bank Resolution (Recapitalisation) Bill [Lords] was introduced in the House of Commons on 13 November 2024. The Bill’s second reading was held on 22 January 2025.
- Bills before Parliament: Bank Resolution (Recapitalisation) Bill [HL]
- Read Explanatory Notes: Bank Resolution (Recapitalisation) Bill [HL]
- House of Commons Library Briefing Paper
There will be no oral evidence sessions held for this Bill.
Guidance on submitting written evidence
Deadline for written evidence submissions
The Public Bill Committee is now able to receive written evidence. The sooner you send in your submission, the more time the Committee will have to take it into account during its consideration of the existing clauses of the Bill and of any amendments tabled to the Bill.
The first sitting of the Public Bill Committee is expected to be on Tuesday 11 February 2025 and the Committee will report the Bill by 5pm on Thursday 13 February 2025. However, please note that when the Committee concludes its consideration of the Bill it is no longer able to receive written evidence and it can conclude earlier than the deadline of 5pm on Thursday 13 February 2025. You are strongly advised to submit your written evidence as soon as possible.
Your submission should be emailed to scrutiny@parliament.uk
Further guidance on submitting written evidence can be found here (pdf, 1MB).
Image: Parliamentary Copyright