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  1. AIB Group UK’s breaches of Parts 2 and 8 and Article 56.2 of the Retail Banking Market Investigation Order 2017
Published date: 25 July 2024

AIB Group UK’s breaches of Parts 2 and 8 and Article 56.2 of the Retail Banking Market Investigation Order 2017

AIB Group (UK)

 

From: Daniel Turnbull
Senior Director, Markets

 

25 July 2024

 

AIB Group UK’s breaches of Parts 2 and 8 and Article 56.2 of the Retail Banking Market Investigation Order 2017

I am writing to you on behalf of the Competition and Markets Authority (CMA) concerning breaches by AIB Group (UK) of Parts 2 and 8 and Article 56.2 of the Retail Banking Market Investigation Order 2017 (the Order).

Part 2 of the Order requires the nine largest banks in Great Britain and Northern Ireland to ensure accurate, comprehensive and up to date Read-only product and reference information is continuously available through Open Banking Application Programming Interfaces (APIs).

Part 8 of the Order requires providers of loans and overdrafts to small and medium sized enterprises (SMEs) to publish a representative rate for those products. The representative rate must be set at a rate that the bank reasonably expects a majority of SMEs would be offered at the date of publication. Rates pu


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