Source · Select Committees · Treasury Committee
Recommendation 6
6
Business Banking Resolution Service eligibility criteria and limited scope restrict effectiveness
Conclusion
The BBRS has seen a far smaller number of cases than some expected. This could be due to low demand, but is also likely to be due to the nature of the eligibility criteria attached to it, as shown by the rejection rate of cases. In the best-case scenario, the 55,000 businesses outside of the FOS’ remit would never have been fully served by the scheme, because only the seven participating banks were in scope. (Paragraph 58) 36 SME Finance
Government Response
A response document is linked to this report, dated 12 December 2024. Response attribution to this conclusion has not been verified. Read the response document ↗