Here you can browse the report together with the Proceedings of the Committee. The published report was ordered by the House of Commons to be printed 10 March 2015.
Terms of Reference
1 Introduction
The importance of SME lending Evidence received by the Committee
The importance of SME lending
Evidence received by the Committee
2 The state of the SME lending market
Current market conditions Underserved segments of the market Equity finance Government schemes Importance of perceptions Communications from banks Public debate on the causes of restricted credit to businesses Availability of data Data on alternative lenders
Current market conditions
Underserved segments of the market
Equity finance Government schemes
Equity finance
Government schemes
Importance of perceptions
Communications from banks Public debate on the causes of restricted credit to businesses
Communications from banks
Public debate on the causes of restricted credit to businesses
Availability of data
Data on alternative lenders
3 RBS Global Restructuring Group (GRG)
Treatment of customers in GRG Allegations against GRG Responses to allegations against GRG FCA review into GRG Conflicts of interest, customer perceptions and governance GRG as a profit centre Future of GRG
Treatment of customers in GRG
Allegations against GRG Responses to allegations against GRG FCA review into GRG
Allegations against GRG
Responses to allegations against GRG
FCA review into GRG
Conflicts of interest, customer perceptions and governance
GRG as a profit centre Future of GRG
GRG as a profit centre
Future of GRG
4 Mis-sale of Hedging Products
FCA Interest Rate Hedging Product review Operation of the scheme Alternative product redress Criticisms of the FCA IRHP review Drafting of the voluntary agreements Possible conflicts of interest Complainant access to the independent reviewer Complainant access to case information An appeals process? The scale of the problem Transparency of the voluntary agreements Tailored Business Loans Break costs and similarities with standalone IRHPs Disclosure Sales practices Regulation of TBLs Clydesdale's review of TBLs Challenging banks through the courts Financial Ombudsman Service
FCA Interest Rate Hedging Product review
Operation of the scheme Alternative product redress
Operation of the scheme
Alternative product redress
Criticisms of the FCA IRHP review
Drafting of the voluntary agreements Possible conflicts of interest Complainant access to the independent reviewer Complainant access to case information An appeals process? The scale of the problem Transparency of the voluntary agreements
Drafting of the voluntary agreements
Possible conflicts of interest
Complainant access to the independent reviewer
Complainant access to case information
An appeals process?
The scale of the problem
Transparency of the voluntary agreements
Tailored Business Loans
Break costs and similarities with standalone IRHPs Disclosure Sales practices
Break costs and similarities with standalone IRHPs
Disclosure
Sales practices
Regulation of TBLs
Clydesdale's review of TBLs Challenging banks through the courts Financial Ombudsman Service
Clydesdale's review of TBLs
Challenging banks through the courts
Financial Ombudsman Service
5 Competition in SME lending
A history of competition problems The current state of competition How have new entrants affected concentration? Why have competition problems persisted? Barriers to entry New entrants, branch networks and "critical scale" Limited switching behaviour from SMEs Product comparability and SMEs' perceptions of banks Concentration and linkages between markets Mutual reinforcement of competition problems Policies to improve competition Multiple credit searches Price comparison Account switching for SMEs A structural remedy? The FCA's competition objective The FCA and the Competition and Markets Authority (CMA)
A history of competition problems
The current state of competition
How have new entrants affected concentration?
Why have competition problems persisted?
Barriers to entry New entrants, branch networks and "critical scale" Limited switching behaviour from SMEs Product comparability and SMEs' perceptions of banks Concentration and linkages between markets Mutual reinforcement of competition problems
Barriers to entry
New entrants, branch networks and "critical scale"
Limited switching behaviour from SMEs
Product comparability and SMEs' perceptions of banks
Concentration and linkages between markets
Mutual reinforcement of competition problems
Policies to improve competition
Multiple credit searches Price comparison Account switching for SMEs A structural remedy? The FCA's competition objective The FCA and the Competition and Markets Authority (CMA)
Multiple credit searches
Price comparison
Account switching for SMEs
A structural remedy?
The FCA's competition objective
The FCA and the Competition and Markets Authority (CMA)
6 Alternative finance
Crowdfunding/peer-to-peer finance Advantages of crowdfunding/peer-to-peer lending Crowdfunding and competition Risks of crowdfunding Conclusions and recommendations
Crowdfunding/peer-to-peer finance
Advantages of crowdfunding/peer-to-peer lending Crowdfunding and competition Risks of crowdfunding
Advantages of crowdfunding/peer-to-peer lending
Crowdfunding and competition
Risks of crowdfunding
Conclusions and recommendations
Formal Minutes
Witnesses
Published written evidence
