HMT has published the Banking Liaison Panel Terms of Reference, which include reference to:
- The Panel’s remit, including its broad purpose and the specific functions set out under section 10(2) of the Banking Act 2009;
- How the Panel will monitor and advise on statutory instruments, the Banking Act: special resolution regime code of practice, and other matters;
- The Panel’s advice to HMT;
- Membership and the role of the chair; and
- Meetings and reporting procedure.
This publication comes on the same day that HMT added a draft recapitalisation payment mechanism chapter to the Banking Act: special resolution regime code of practice.