Schedule 11: Central counterparties Part 5 – Special resolution action Pre-resolution valuation
Paragraph 22 sets out that before the bank exercises any stabilisation power, it must ensure that the assets and liabilities of a CCP are valued by an independent valuer (unless urgency dictates that the Bank must carry out a provisional valuation instead).
	Sub-paragraph (4) provides that the Bank may carry out a provisional valuation if urgency dictates it is necessary.
	Sub-paragraph (5) clarifies what a person conducting a valuation is obligated to consider, and sub-paragraphs (7) and (8) set out the products that a valuation must or may be accompanied by, though if a provisional valuation is being carried out the Bank need only comply with sub-paragraph (7) as far as it is reasonable to do so in the circumstances (sub-paragraph (9)).
	Sub-paragraph (10) outlines that HM Treasury may by regulations specify the methodology for a valuation.