Schedule 2, Part 2, paragraph 38

The Bank of England Act 1998 is amended as follows. After section 2A (financial stability objective) insert— The Bank is responsible for the application of Article 458 of the capital requirements regulation so far as it relates to measures which are prescribed by order under section 9L (macro-prudential measures). The Treasury are responsible for the application of Article 458 of the capital requirements regulation so far as it relates to measures which are not so prescribed. For section 17(7C) (power to obtain information) substitute— “Financial holding company” has the meaning given by Article 4(1)(20) of the capital requirements regulation.

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