European Union (Withdrawal) Act 2018 and GCLAC: Difference between pages

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imported>Doug Williamson
m (Minor changes to wording to make sentence flow easier. Added Total Loss Absorbing Capacity to see also.)
 
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''UK - European Union - Brexit.''
Gone Concern Loss Absorbing Capacity.


(EUWA 2018).
''Bank [[resolution]] and [[recovery]]''.


The UK's European Union (Withdrawal) Act 2018 was designed to implement the legal changes to implement Brexit in UK law with effect from 31 January 2020, at a time when it was envisaged that 31 January 2020 would be the date when all of the important changes would take effect.
Usage in the field of bank recovery and resolution has taken time to develop. The acronym was sometimes just GLAC that is defined as "Gone-Concern Loss Absorbing Capacity".


GCLAC focused on the loss absorbing capacity of bail-in-able debt to replenish equity.


Subsequently, a transition period to end on the later date of 31 December 2020 was agreed on.
The [[FSB]], that had used "GLAC", has now changed to the term [[Total Loss Absorbing Capacity]] (TLAC).


Accordingly, the European Union (Withdrawal) Act 2018 was substantially amended by the European Union (Withdrawal Agreement) Act 2020, in order to give effect to the transition period.


== See also ==
* [[Total Loss Absorbing Capacity]]
*[[Capital adequacy]]
*[[Loss absorbing capacity]]
*[[PLAC]]


== See also ==
*[[SLAC]]
* [[Article 50]]
 
* [[Brexit]]
*[[MREL]]
* [[Brexit Day]]
* [[Brexit transition period]]
* [[Cliff edge]]
* [[Equivalence]]
* [[European Economic Area]]
* [[European Union]]
* [[European Union (Withdrawal Agreement) Act 2020]]
* [[Exit day]]
* [[Hard Brexit]]
* [[IP completion day]]
* [[Parliamentary supremacy]]
* [[Sovereignty]]
* [[United Kingdom]]
* [[Withdrawal Agreement]]


*[[Gone concern]]


== Other link==
*[[Bailin]]
[https://www.treasurers.org/hub/technical/brexit Brexit - ACT Resources]


[[Category:Accounting,_tax_and_regulation]]
[[Category:Compliance_and_audit]]
[[Category:The_business_context]]
[[Category:Risk_frameworks]]

Revision as of 17:01, 7 January 2015

Gone Concern Loss Absorbing Capacity.

Bank resolution and recovery.

Usage in the field of bank recovery and resolution has taken time to develop. The acronym was sometimes just GLAC that is defined as "Gone-Concern Loss Absorbing Capacity".

GCLAC focused on the loss absorbing capacity of bail-in-able debt to replenish equity.

The FSB, that had used "GLAC", has now changed to the term Total Loss Absorbing Capacity (TLAC).


See also

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