Section 48WA

The Bank of England may, in relation to the exercise of the bail-in option, direct a relevant bank to pay the Bank of England a fee to cover expenses reasonably incurred by the Bank in connection with exercising that option. The Treasury may direct a relevant bank to pay the Treasury a fee to cover expenses reasonably incurred by the Treasury in connection with the exercise by the Bank of England of the bail-in option in relation to the relevant bank. For the purposes of this section— a “relevant bank” is a bank in relation to which the Bank of England has made— a resolution instrument under section 12A(2), a supplemental resolution instrument under section 48U(2), or an instrument containing special bail-in provision under section 48B, the exercise of the bail-in option includes making any instrument containing special bail-in provision under section 48B.

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