GCLAC and Project Birch: 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.)
 
imported>Doug Williamson
(Mend link.)
 
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Gone Concern Loss Absorbing Capacity.
''Business continuity - pandemic - UK.''


''Bank [[resolution]] and [[recovery]]''.
Project Birch is a UK government plan announced in May 2020 to bail out strategically important UK companies facing financial difficulty due to COVID-19.  


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".
The UK government has:


GCLAC focused on the loss absorbing capacity of bail-in-able debt to replenish equity.
:'indicated that it is prepared to assist large companies "in exceptional circumstances" and as a "last resort" where an otherwise viable company has "exhausted all options" and its failure would "disproportionately harm the UK economy".'
:''DWF Law, Legal Insights, 29 May 2020''


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


==See also==
*[[Bailout]]
*[[Bounce Back Loan Scheme]]
*[[Business continuity plan]]
*[[Coronavirus Business Interruption Loan Scheme]]
*[[Coronavirus Job Retention Scheme]]
*[[Coronavirus Large Business Interruption Loan Scheme]]
* [[Coronavirus crisis]]
*[[COVID-19]]
*[[COVID-19 Corporate Financing Facility]]
*[[Liquidity management]]
*[[State aid]]


== See also ==
* [[Total Loss Absorbing Capacity]]


*[[Capital adequacy]]
==Resources for COVID-19==
[https://www.treasurers.org/hub/technical/covid19 ACT technical - COVID-19]


*[[Loss absorbing capacity]]
[https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses UK government: support for businesses]


*[[PLAC]]
[https://www.gov.uk/coronavirus UK government: COVID-19 support hub]


*[[SLAC]]
[[Category:Accounting,_tax_and_regulation]]
 
[[Category:The_business_context]]
*[[MREL]]
[[Category:Identify_and_assess_risks]]
 
[[Category:Manage_risks]]
*[[Gone concern]]
 
*[[Bailin]]
 
[[Category:Compliance_and_audit]]
[[Category:Risk_frameworks]]

Revision as of 09:26, 6 June 2020

Business continuity - pandemic - UK.

Project Birch is a UK government plan announced in May 2020 to bail out strategically important UK companies facing financial difficulty due to COVID-19.

The UK government has:

'indicated that it is prepared to assist large companies "in exceptional circumstances" and as a "last resort" where an otherwise viable company has "exhausted all options" and its failure would "disproportionately harm the UK economy".'
DWF Law, Legal Insights, 29 May 2020


See also


Resources for COVID-19

ACT technical - COVID-19

UK government: support for businesses

UK government: COVID-19 support hub

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