Session 2012 - 13
Internet Publications
Other Bills before Parliament
|
| |
| | |
| | |
| |
| | |
| | |
| | |
| | For other Amendment(s) see the following page(s):
|
|
| | Financial Services (Banking Reform) Bill Committee 95-105 |
|
| | |
| | Financial Services (Banking Reform) Bill |
|
| | | Limits on excessive market power |
|
| | |
| | | |
| | To move the following Clause:— |
|
| | | ‘(1) | With effect from 1 January 2020 no ring-fenced body or group of ring-fenced |
|
| | | bodies may have excessive market power in respect of a core banking service. |
|
| | | (2) | For the purposes of section (1) above core banking service means— |
|
| | | (a) | the provision of personal current accounts and overdrafts; |
|
| | | (b) | the provision of liquidity management services for small and medium- |
|
| | | |
| | | (c) | the provision of mortgage services; |
|
| | | (d) | the provision of savings accounts; |
|
| | | (e) | the provision of unsecured personal loans. |
|
| | | (3) | For the purposes of section (1) excessive market power is defined as a market |
|
| | | share equal to 20% or higher. |
|
| | | (4) | If any ring-fenced body or group of ring-fenced bodies is deemed by the |
|
| | | appropriate regulator to have excessive market power in relation to any core |
|
| | | banking service for two successive accounting periods, with effect from six |
|
| | | months after the end of the second accounting period, the part 4A permission for |
|
| | | the ring fenced body or group of ring-fenced bodies shall be treated as having |
|
| | | been cancelled as it relates to that core banking service.’. |
|
| | |
|
