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Version date: 31 December 2023 - onwards
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Schedule 11, Part 2 Pre-resolution powers of the Bank of England (paras. 2-3)

Section 57

Removal of impediments to the exercise of stabilisation powers etc

2

(1) The Bank may give directions to a CCP to take measures which the Bank considers are required to address impediments to the effective exercise of the stabilisation powers.

(2) The power conferred by sub-paragraph (1) includes (but is not limited to) a power to direct the CCP -

(a) to enter into or revise an agreement for the provision of services relating to the provision of critical clearing services;

(b) to limit its maximum individual and aggregate exposures to loss;

(c) to produce information which is relevant to the exercise of the stabilisation powers, and to provide that information to the Bank;

(d) to dispose of specified assets;

(e) to cease carrying out specified activities, or observe restrictions in relation to the carrying out of specified activities;

(f) to cease the development of new or existing business operations, or observe restrictions in relation to the development of such operations

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