Small Business News | OFT to review barriers to new banking entrants

The Office of Fair Trading is set to undertake a review of barriers to entry, expansion and exit in the retail banking sector according to Money Marketing magazine.

The review will look at obstacles that are holding back new entrants and preventing smaller banks from expanding. This includes:
• Regulatory requirements, including obtaining authorisation from the FSA and capital and liquidity requirements
• Access to payment systems and availability of credit risk information
• Barriers to achieving scale such as developing branch networks and customer inertia
• Barriers to exit and aspects of the operation of the Special Resolution Regime

For the full article, visit the Money Marketing website.