Review of the SME Banking Undertakings 2002
- From:
- Competition and Markets Authority
- Published
- 2 April 2025
- Last updated
- 13 August 2025 — See all updates
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
Allica Bank response
PDF, 296 KB, 3 pages
Barclays response
PDF, 316 KB, 10 pages
ClearBank response
PDF, 158 KB, 2 pages
Federation of Small Businesses response
PDF, 178 KB, 3 pages
Financial Services Consumer Panel response
PDF, 85.8 KB, 8 pages
HSBC response
PDF, 442 KB, 7 pages
Innovate Finance response
PDF, 206 KB, 5 pages
Lloyds Banking Group response
PDF, 1.46 MB, 8 pages
NatWest response
PDF, 420 KB, 4 pages
UK Finance response
PDF, 183 KB, 11 pages
Original consultation
Summary
The Competition and Markets Authority (CMA) isconsulted consulting on a review of those provisions within the SME Banking Undertakings 2002 which remain in force.
This consultation iswas being held on another website.
This consultation closesran atfrom
to
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of any change of circumstances, the Limitation on Bundling Provisions are no longer appropriate and need to be varied, superseded or released.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 isconsulted now consulting 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- if such changes are identified, whether they mean that the Limitation on Bundling Provisions should be varied, superseded or released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
Consultation document
PDF, 192 KB, 9 pages
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Updates to this page
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Final outcome published.
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First published.
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Update history
2025-08-13 12:00
Final outcome published.
2025-04-02 12:01
First published.