The purpose of the measures was to enable increased competition in the banking industry, to the benefit of customers. The changes focussed on two key areas: reforms to and a simplification of the authorisation process for new banks; and a major shift in the prudential regulation, such as capital requirements, for new entrants.
Published on 07 July 2014
// News // Monetary Policy Committee (MPC)
Bank Rate maintained at 0.75% - September...
Bank Rate maintained at 0.75% - September 2019
// News // News release