Section 48B(13)

When deciding whether to exclude liabilities under subsection (10) or (11), the Bank of England must give due consideration to— the principle that all the liabilities of the bank ought to be treated in accordance with the priority they would enjoy on a liquidation, the principle that any creditors who would have equal priority on a liquidation ought to bear losses on an equal footing with each other, the level of loss absorbing capacity that would remain in the bank if the liability or liabilities of a class were wholly or partly excluded, and the need to maintain adequate resources to deal with the implications for public funds of anything done, in future, in connection with the exercise of one or more of the stabilisation powers.

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Source: legislation.gov.uk · retrieved 2026-09-04