Source · Select Committees · Treasury Committee

Eighth Report - SME Finance

Treasury Committee HC 27 Published 8 May 2024

Report Status

Government responded

Conclusions & Recommendations

22 items (5 recs)

Source

View on Parliament website ↗

Government Response

AI assessment · 22 of 22 classified

Accepted 5

Acknowledged 10

Deferred 6

Not Addressed 1

Government response

First Special Report - SME Finance: Government Response · published 12 Dec 2024

Read the government response ↗ Response on the Index

Recommendations & Conclusions

1 item

7 Conclusion Not Addressed

Para 59

Business Banking Resolution Service lacks perceived independence from the financial industry

Conclusion

There is no clear evidence that the seven participating banks control the BBRS on an operational level. However, the structure and remit of the BBRS were determined with their consent. Dispute resolution must be independent, and perhaps as importantly, be … Read more

Government Response Summary

The government notes the committee's conclusion regarding the Business Banking Resolution Service's (BBRS) perceived lack of independence, and states that the BBRS will close to new registrations on 13 December 2024, with its future being a matter for the BBRS itself.

HM Treasury

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