This paper provides an overview of the evolution as well as recent innovations in market-based finance. It argues that MBF is not merely an alternative way of providing banking-like services; it is in many ways a more efficient means of creating, distributing, and managing money, credit and risk globally. Properly regulated and supervised MBF can contribute to a dynamic and competitive financial services sector, develop new and innovative products to meet customers’ needs.
In this Policy Statement, we report on the main issues arising from Consultation Paper 15/33, Consumer credit: proposals in response to the CMA’s recommendations on high-cost short-term credit (October 2015) and publish the final rules.
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