{"id":1774,"date":"2022-01-21T12:39:12","date_gmt":"2022-01-21T12:39:12","guid":{"rendered":"https:\/\/www.xp-49.com\/?p=1774"},"modified":"2022-03-14T12:45:45","modified_gmt":"2022-03-14T12:45:45","slug":"21st-january-2022-uk-fca-final-report-on-competition-in-retail-banking-markets","status":"publish","type":"post","link":"https:\/\/www.xp-49.com\/21st-january-2022-uk-fca-final-report-on-competition-in-retail-banking-markets\/","title":{"rendered":"21st January 2022 &#8211; UK FCA Final Report on Competition in Retail Banking Markets"},"content":{"rendered":"<p>Following its 2018 report, the FCA investigated changes due to COVID-19, the impacts of digitisation and the benefits of ring-fencing retail banks, in light of facilitating competition.<\/p>\n<p>The FCA summarises its key findings as follows:<\/p>\n<ul>\n<li>Large banks are in a strong position but face increasing competition, in particular for PCAs (Private Current Accounts)<\/li>\n<li>Low levels of consumer engagement have historically contributed to high barriers to entry and expansion. Digital challengers have rapidly gained share in the PCA and BCA markets.<\/li>\n<li>Competition in the mortgage market has intensified, which has caused yields to come down.<\/li>\n<li>Yields on consumer credit have also fallen, particularly on un-arranged overdrafts<\/li>\n<li>Large banks did proportionately more micro-business lending under the government schemes than most other banks.<\/li>\n<li>Increased competition and innovation have improved outcomes for some consumers and small businesses but others, particularly consumers with heavy branch usage or lower balances, may have had worse outcomes.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>FCA Final Report, Annexes and links to the 2018 Report: <a href=\"https:\/\/www.fca.org.uk\/publications\/multi-firm-reviews\/strategic-review-retail-banking-business-models\">https:\/\/www.fca.org.uk\/publications\/multi-firm-reviews\/strategic-review-retail-banking-business-models<\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Following its 2018 report, the FCA investigated changes due to COVID-19, the impacts of digitisation and the benefits of ring-fencing retail banks, in light of facilitating competition. The FCA summarises its key findings as follows: Large banks are in a strong position but face increasing competition, in particular for PCAs (Private Current Accounts) Low levels [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[22,70,21],"_links":{"self":[{"href":"https:\/\/www.xp-49.com\/wp-json\/wp\/v2\/posts\/1774"}],"collection":[{"href":"https:\/\/www.xp-49.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.xp-49.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.xp-49.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.xp-49.com\/wp-json\/wp\/v2\/comments?post=1774"}],"version-history":[{"count":1,"href":"https:\/\/www.xp-49.com\/wp-json\/wp\/v2\/posts\/1774\/revisions"}],"predecessor-version":[{"id":1775,"href":"https:\/\/www.xp-49.com\/wp-json\/wp\/v2\/posts\/1774\/revisions\/1775"}],"wp:attachment":[{"href":"https:\/\/www.xp-49.com\/wp-json\/wp\/v2\/media?parent=1774"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.xp-49.com\/wp-json\/wp\/v2\/categories?post=1774"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.xp-49.com\/wp-json\/wp\/v2\/tags?post=1774"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}