Personal Current Accounts Pricing Analysis Using Transaction Data

As a consequence of one of the major banks notifying the Competition and Markets Authority (CMA) that there were errors in the data they submitted to the CMA on a previous contract, the CMA is to undertake a further re-run of the pricing analysis using the same supplier to inform their proposal, as they undertook the initial analysis and now have ownership of the algorithm through which the data will be run with more up-to-date prices and refine the assumptions which will improve the credibility of CMA's final report.

The CMA have a statutory deadline of 5 May 2016 and need to issue its provisional decision on remedies and consult on this analysis by the end of February/early March in order to meet that statutory deadline.