UK: Bank of England consultations (including the governance of ring-fenced bodies)

The Bank of England has today published several consultation papers that set out proposed changes designed to improve the resilience and resolvability of deposit-takers and reduce the disruption to customers and the system if a deposit-taker or insurer fails: see here. A consultation paper has also been published in respect of the implementation of bank ring-fencing and this focuses on legal structure, governance and the continuity of services and facilities: see here (pdf). The governance part of this paper considers, amongst other things, the proposed requirements for the composition and structure of the board of ring-fenced bodies.