The Cash Ratio Deposits (Value Bands and Ratios) Order 2018
Schedule 2 to the Bank of England Act 1998 (c.11) makes provision concerning the maintenance by certain institutions of cash ratio deposits with the Bank of England (“the Bank”). The institutions covered by these arrangements are those defined as “deposit-takers” by section 17(7) of, and paragraph 1(1A) to (1C) of Schedule 2 to, that Act. The Bank is empowered by paragraph 3 of that Schedule to give such an institution a call notice specifying an amount the institution is expected to have on deposit with the Bank during a specified period. Under paragraph 4 of that Schedule, the depositable amount is to be calculated by multiplying so much of an institution's average liability base as falls into each of the different value bands by the ratio applicable to that band, and adding up these amounts.
Lifecycle
Department
Made
24 May 2018
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In force
01 Jun 2018
Enabling power
In accordance with paragraphs 10 and 11 of Schedule 2 to the Bank of England Act 1998, the Treasury have consulted the Bank of England, such persons as appear to them to be representative of persons likely to be materially affected by this Order and such other persons as they think fit, and, in making this Order, have had regard to the financial needs of the Bank of England.
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