BKLM331050 - Chargeable equity and liabilities: excluded equity and liabilities: design of the bank levy
Paragraphs 28-39 of Schedule 19
»Ê¹ÚÌåÓýapp design of the bank levy is based on the proposal in the International Monetary Fund Report to the G20 published on 5 June 2010, ‘A Fair and Substantial Contribution by the Financial Sectorâ€�, for a broad balance sheet based charge designed to encourage banks to move to more stable, long term and less risky sources of funding.
»Ê¹ÚÌåÓýapp bank levy is based on total equity and liabilities as reported in the relevant accounts, however there are certain exclusions allowed from the base (see BKLM330000).