BoE’s Haldane: Help shadow banks to finance SMEs

By Owen Sanderson
19 Jun 2014

The Bank of England’s Andy Haldane has called for a UK credit register to be established to improve SME funding conditions in Britain. This will open the market to trade credit companies, insurance companies and pension funds, as well as improving the attractiveness of the securitization market.

Haldane argued in an article on Tuesday that the big four banks held around 80% of SME banking relationships, and did not share data on SME creditworthiness, restricting potential competition in the sector.

Haldane noted that more than half the countries of the EU already have a credit ...

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