BKLM354400 | Chargeable equity and liabilities: netting: the entity and the counterparty: UK resident banks and building societies which are not members of groups
From HM Revenue & Customs · Bank Levy Manual
Paragraph 22 of Schedule 19
For UK resident stand alone banks and building societies, for the purposes of netting the ‘entity’ is a UK resident bank or a building society and the ‘counterparty’ is any other entity.