OFT has completed its initial scoping exercise on its market study into banking for small and medium-sized enterprises (SME). The study will cover:  

  • liquidity management services: particularly business current accounts and overdrafts;
  • general purpose business loans;
  • effectiveness and nature of competition;
  • switching; and
  • transparency.

It will now continue its exercise by consulting with the industry. It aims to publish the study in early 2014. (Source: OFT Updates on SME Banking Review)