To improve the resilience of the financial system and support financial stability by strengthening depositor protection and dealing with banks in difficulties

The Bill includes provisions to:

The permanent introduction of a special resolution regime for banks in distress

Special insolvency and administration procedures for dealing with insolvent banks

Permitting the Financial Services Compensation Scheme (FSCS) to borrow from the National Loans Fund (NLF) for the purpose of financing rapid payout to depositors

The possible future introduction of pre-funding for the FSCS

Allowing the scheme to contribute towards the costs incurred in a special resolution regime

The regulation of inter-bank payment systems;

Improved protection for holders of banknotes issued by banks in Scotland and Northern Ireland

The strengthening of the Bank of England's remit for financial stability, and modernised governance arrangements, including a new Financial Stability Committee (FSC) as a sub-committee of the court of directors and

Measures to reduce the likelihood of banks failing, including improved sharing of supervisory information, and limits to the disclosure regime for banks in receipt of liquidity assistance from the Bank of England.