Schedule 11: Central counterparties Part 5 – Special resolution action Restriction of security interests
Paragraph 98 provides that, when exercising a stabilisation power in respect of a CCP, the Bank may suspend the rights of a secured creditor in order to enforce any security interest the creditor has in relation to any CCP assets. This power must be exercised through a share transfer, property transfer, resolution instrument, or third-country instrument.
	Sub-paragraph (2) outlines when this suspension must begin and end.
	Sub-paragraph (3) sets out a situation in which the Bank may not exercise this power.
	Sub-paragraph (6) outlines that the Bank must have regard to the impact of a suspension on the functioning on financial markets.