On August 5, the Treasury published the annual report of its Banking Liaison Panel for 2012-13. The Panel advises the Treasury about the effect of the special resolution regime (SRR) (established under the Banking Act 2009) on banks, the financial markets and those doing business with banks.

The report looks at the work that the panel will be doing for the remainder of 2013 and 2014, which concerns non-bank resolution regimes and EU legislative proposals on the Recovery and Resolution Directive (RDD) and the euro banking union. The Panel also expects to review the findings of the second phase of the statutory review of the special administrative regime (SAR) for investment banks. Annual Report.