Guidance

Retail banking order 2017: directions issued to 6 banks

Directions issued to 6 banks to ensure they comply with the requirement to release personal and business account data sets as part of the Open Banking remedy.

Documents

Directions for Bank of Ireland

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Directions for Barclays

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Directions for HSBC

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Directions for RBS

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Directions for Santander

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Details

In 2017 the CMA issued the Retail Banking Market Investigation Order. Article 14 of the Order required the 9 largest banks in Great Britain and Northern Ireland to release Read/Write personal current account (PCA) and business current account (BCA) data sets by 13 January 2018 as part of the Open Banking remedy.

Six banks told us that they would not be able to release all of these data sets by the specified date and we have therefore issued each of these banks with directions stipulating the timeline for the delivery of the outstanding data sets and the arrangements that each must make for reporting progress to the CMA in the meantime.

Update

20 July 2018: The CMA today revoked the Directions given to Barclays Bank on 19 December 2017 on confirmation by the Implementation Trustee that Barclays Bank was compliant with Article 14.1 of the Order.

13 June 2018: The CMA today revoked the Directions given to HSBC on 19 December 2017 on confirmation by the Implementation Trustee that HSBC was compliant with Article 14.1 of the Order.

6 March 2018: The CMA today revoked the Directions given to Nationwide Building Society on 19 December 2017 on confirmation by the Implementation Trustee that Nationwide Building Society was compliant with Article 14.1 of the Order.

27 February 2018: The CMA today revoked the Directions given to RBSG on 19 December 2017 on confirmation by the Implementation Trustee that RBSG was compliant with Article 14.1 of the Order.

Published 19 December 2017
Last updated 20 July 2018 + show all updates
  1. Update to the directions published.
  2. Directions to HSBC revoked following confirmation by the Implementation Trustee of HSBC compliance with article 14.1 of the order.
  3. CMA revoked the Directions given to Nationwide Building Society on 19 December 2017
  4. Directions to RBSG revoked following confirmation by the Implementation Trustee of RBSG compliance with article 14.1 of the order.
  5. Directions for Nationwide Building Society added.
  6. First published.