BKLM331250 | Chargeable equity and liabilities: excluded equity and liabilities: sovereign stock-lending liabilities

Paragraph 32 of Schedule 19

Sovereign stock lending liabilities, that is the liabilities relating to the requirement of the lender to redeliver the cash collateral underpinning a stock lending arrangement involving high quality securities are excluded from the bank levy.

CTA2010/S805 defines a stock lending arrangement

CTA2009/S556 defines securities

The definition of high quality securities for stock lending liabilities and sovereign repos is provided in paragraph 31(4) of Schedule 19 and covered in BKLM331200.