Bank Resolution (Recapitalisation) Bill [Lords]: New Clause 3 - Credit Unions accessing Bank of England liquidity facilities
I beg to move, That the clause be read a Second time.

Clause text:

New Clause 3 - Credit Unions accessing Bank of England liquidity facilities
“(1) The Chancellor of the Exchequer must, within twelve months of this Act coming into force, prepare and lay before Parliament a report on the impact of this Act on credit unions.
(2) The report must include—
(a) an assessment of the arguments for granting credit unions access to Bank of England liquidity facilities, considering their similarity to small building societies;
(b) an analysis of the competitive disadvantages faced by credit unions compared to start-up banks, particularly concerning access to liquidity and resolution mechanisms;
(c) recommendations for any legislative or regulatory changes to support the stability and competitiveness of credit unions.”—(Mark Garnier.)