HM Treasury has published its response to its July 2014 consultation on the UK transposition of the Bank Recovery and Resolution Directive (BRRD).

The document, which summarises the responses received and outlines the Government’s response, notes that HM Treasury intends to undertake further work with regard to:

• whether the Bank of England should have additional resolution powers over branches of third country institutions; and
• whether the bank levy should be used to meet the BRRD’s ex post funding requirements.

View Transposition of the Bank Recovery and Resolution Directive, 26 March 2015