- Bill introduced in the Lords by
Lord Livermore- on behalf of HM Treasury
Tulip Siddiq
1st reading in the LordsView in Hansard ↗Formal stage — recorded in Hansard.
- Letter from Lord Livermore to Baroness Kramer regarding the previous government’s management of the failure of Silicon Valley Bank (SVB) UK and the impact of this on the ring-fencing regime.
- Letter from Lord Livermore to Lord Moylan regarding whether the costs of litigation would be in scope of Financial Services Compensation Scheme (FSCS) levies under the new mechanism, as discussed during the Second Reading.
- Letter from Lord Livermore to Lord Vaux regarding factors considered when deciding which firms should maintain a Minimum Requirement for Own Funds and Eligible Liabilities (MREL) above minimum capital requirements, given that resolution is in the public interest should public funds be used rather than money from industry.
- 25 amendments tabled at Committee stage in the Lords11 Not moved14 Withdrawn6 members moved amendments
- First Report of the Delegated Powers and Regulatory Reform Committee
- Letter from Lord Livermore to Baroness Noakes regarding questions raised during the Committee stage: the amount the Financial Services Compensation Scheme (FSCS) can borrow from the Treasury, section 5 of the Banking Act and the Code of Practice, notifying Parliament of the mechanism’s use.
- Letter from Lord Livermore to Baroness Bowles regarding questions raised during the Committee stage: principle and detail of clause 4(3) of the Bill.
- Letter from Lord Livermore to Lord Vaux regarding questions raised during the Committee stage: provisions to recoup dividends, Bank of England ex-post scrutiny reports, second or subsequent recapitalisation payments, firms placed in insolvency from a Bridge Bank.
- Letter from Lord Livermore to Baroness Vere regarding questions raised during the Committee stage: number of firms on the MREL glide path, outcome of the Resolvability Assessment Framework, multiple firm failures, firms contributing to the costs of the new mechanism, FSCS resources.
- 17 amendments tabled at Report stage in the Lords4 Withdrawn1 Withdrawn before debate2 Not moved1 Disagreed9 Agreed6 members moved amendments
- 1st reading in the Commons
- 2nd reading, Programme motion, Money resolution, Ways and Means resolution in the CommonsView in Hansard ↗9 speakers · 16 speeches
- 4 amendments tabled at Committee stage in the Commons1 Agreed1 Agreed on division1 Not moved1 Withdrawn2 members moved amendments
- 7 amendments tabled at Report stage in the Commons7 No decision2 members moved amendments
- Consideration of Commons amendments and / or reasons in the LordsView in Hansard ↗4 speakers · 7 speeches
King Charles III grants Royal Assent, and merges this bill into law
