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Statutory Instruments

1998 No. 1269

BANKS AND BANKING

The Cash Ratio Deposits (Value Bands and Ratios) Order 1998

Made

19th May 1998

Coming into force

1st June 1998

Whereas a draft of this Order has been approved by a resolution of each House of Parliament pursuant to section 40(2) of the Bank of England Act 1998( 1 );

Now, therefore, the Treasury, having consulted the Bank of England, such persons as appear to them to be representative of persons likely to be materially affected by the following Order and such other persons as they think fit, and having regard to the financial needs of the Bank of England, in exercise of the powers conferred on them by paragraph 5 of Schedule 2 to that Act, hereby make the following Order:

Citation and commencement

1. This Order may be cited as the Cash Ratio Deposits (Value Bands and Ratios) Order 1998 and shall come into force on 1st June 1998.

Value bands and ratios

2. For the purposes of paragraph 4 of Schedule 2 to the Bank of England Act 1998, the value bands and the ratios applicable to them, expressed as a percentage, are as follows:

Value band Ratio
£0–£400 million 0%
Over £400 million 0.15%

Jim Dowd

Graham Allen

Two of the Lords Commissioners of Her Majesty’s Treasury

19th May 1998

( 1 )

1998 c. 11 .

Status: This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
The Cash Ratio Deposits (Value Bands and Ratios) Order 1998 (1998/1269)

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