Consultation outcome: Review of the SME Banking
Undertakings 2002
From: Competition and Markets
Authority
Published 2 April 2025
Last updated 13 August 2025 — See all updates
This consultation has concluded
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) consulted on a review
of those provisions within the SME Banking Undertakings 2002
which remain in force.
This consultation was held on another
website.
This consultation ran from
midday on 2 April 2025 to 5pm on 7 May
2025
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superseded or released.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 consulted 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Limitation on Bundling Provisions should be varied, superseded or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
