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Various categories of equity and liabilities are excluded from the bank levy. These are listed in the legislation and in addition there is considerable flexibility for HM Treasury to add additional categories of excluded equity and liabilities, and/or to amend or repeal the existing exclusions¹. Currently, the excluded equity and liabilities consist of²:

1. Ìý

   •ÌýÌýÌýÌý 'protected' deposits, ie retail deposits which are subject to a suitable form of depositor protection scheme. In a UK context this means retail deposits covered by the Financial Services Compensation Scheme (and comparable schemes³), for which the maximum amount of protection per depositor per authorised institution is currently £85,000. Deposits protected by comparable schemes outside the UK will also be treated as excluded liabilities

2. Ìý

   •ÌýÌýÌýÌý tier 1 capital (ie amounts which are or would be treated as such for the purposes of Article 25 of the Capital