Review of the SME Banking Undertakings 2002
Detail of outcome
The CMA has published its provisional decision that the remaining provisions of the SME Banking Undertakings 2002 are no longer appropriate and should be released.
We are now consulting on our provisional decision and notice of intention to release.
Feedback received
Original consultation
Consultation description
In 2014, the CMA reviewed the SME Banking Undertakings 2002 and decided in 2016 to release all but 4 provisions in the Undertakings. These 4 provisions prohibit 8 designated banks from compelling an SME customer to open or maintain a business current account as a condition of accessing business loans or deposit accounts (the ‘Limitation on Bundling Provisions’).
The purpose of this review is to determine whether, as a result of any change of circumstances, the Limitation on Bundling Provisions are no longer appropriate and need to be varied, superseded or released.
The CMA consulted on:
- potential changes of circumstances that may mean that the Limitation on Bundling Provisions are no longer appropriate
- if such changes are identified, whether they mean that the Limitation on Bundling Provisions should be varied, superseded or released
- in the case of identifying the need to vary the Limitation on Bundling Provisions, what are the proposed changes that could be made
Documents
Updates to this page
-
Final outcome published.
-
First published.