Statutory Instruments
2013 No. 1189
Banks And Banking
The Cash Ratio Deposits (Value Bands and Ratios) Order 2013
Made
21st May 2013
Coming into force
3rd June 2013
The Treasury, in exercise of the powers conferred by paragraph 5 of Schedule 2 to the Bank of England Act 1998( 1 ), make this Order.
In accordance with section 40(2) of the Bank of England Act 1998, a draft of this Order was laid before Parliament and approved by a resolution of each House of Parliament.
In accordance with paragraphs 10 and 11 of Schedule 2 to that Act, the Treasury have consulted the Bank of England, such persons as appear to them to be representative of persons likely to be materially affected by this Order and such other persons as they think fit, and in making this Order have regard to the financial needs of the Bank of England.
Citation and commencement
1. This Order may be cited as the Cash Ratio Deposits (Value Bands and Ratios) Order 2013 and comes into force on 3rd June 2013.
Revocation of the 2008 Order
2.The Cash Ratio Deposits (Value Bands and Ratios) Order 2008( 2 ) is revoked.
Value bands and ratios
3. For the purposes of paragraph 4 of Schedule 2 to the Bank of England Act 1998 (cash ratio deposits), the value bands and the ratios applicable to them, expressed as a percentage, are as follows.
| Value band | Ratio |
| £0-£600 million | 0% |
| Over £600 million | 0.18% |
Mark Lancaster
Desmond Swayne
Two of the Lords Commissioners of Her Majesty’s Treasury
21st May 2013