{"id":454,"date":"2020-04-29T08:30:00","date_gmt":"2020-04-29T07:30:00","guid":{"rendered":"https:\/\/consumerfinancelaw.co.uk\/wp\/?p=454"},"modified":"2020-04-29T08:27:00","modified_gmt":"2020-04-29T07:27:00","slug":"fca-publishes-a-statement-about-creditworthiness-provisions-for-regulated-credit-agreements-made-under-the-uk-coronavirus-business-interruption-loan-scheme-and-the-new-bounce-back-loan-scheme","status":"publish","type":"post","link":"https:\/\/consumerfinancelaw.co.uk\/wp\/2020\/04\/29\/fca-publishes-a-statement-about-creditworthiness-provisions-for-regulated-credit-agreements-made-under-the-uk-coronavirus-business-interruption-loan-scheme-and-the-new-bounce-back-loan-scheme\/","title":{"rendered":"FCA publishes a statement about creditworthiness provisions for regulated credit agreements made under the UK Coronavirus Business Interruption Loan Scheme and the new Bounce Back loan scheme"},"content":{"rendered":"\n<p>On 27 April 2020, <a href=\"https:\/\/www.fca.org.uk\/news\/statements\/uk-coronavirus-business-interruption-loan-scheme-cbils-and-new-bounce-back-loan-scheme-bbl\">the UK Financial Conduct Authority published a statement about creditworthiness<\/a> on the UK Coronavirus Business Interruption Loan Scheme (often called &#8216;CBILS&#8217;) and the Bounce Back Loan scheme (often called &#8216;BBL&#8217; or\u00a0&#8216;BBLS&#8217;).<\/p>\n\n\n\n<p>The FCA recognises &#8220;<em>the need to make changes to the CBILS scheme immediately<\/em>&#8220;.\u00a0 The FCA says if firms comply with the relevant requirements of CBILS, then it does not expect them to comply with CONC 5.2A-34 where the lending involves a regulated credit agreement.\u00a0 But firms must continue to comply with CONC 5.2A for all other regulated lending.<\/p>\n\n\n\n<p>The FCA expects to make a similar statement when BBL is launched.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On 27 April 2020, the UK Financial Conduct Authority published a statement about creditworthiness on the UK Coronavirus Business Interruption Loan Scheme (often called &#8216;CBILS&#8217;) and the Bounce Back Loan scheme (often called &#8216;BBL&#8217; or\u00a0&#8216;BBLS&#8217;). The FCA recognises &#8220;the need to make changes to the CBILS scheme immediately&#8220;.\u00a0 The FCA says if firms comply with &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/consumerfinancelaw.co.uk\/wp\/2020\/04\/29\/fca-publishes-a-statement-about-creditworthiness-provisions-for-regulated-credit-agreements-made-under-the-uk-coronavirus-business-interruption-loan-scheme-and-the-new-bounce-back-loan-scheme\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;FCA publishes a statement about creditworthiness provisions for regulated credit agreements made under the UK Coronavirus Business Interruption Loan Scheme and the new Bounce Back loan scheme&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[47],"tags":[151,150,146,123],"class_list":["post-454","post","type-post","status-publish","format-standard","hentry","category-conc","tag-bbls","tag-cbils","tag-coronavirus","tag-creditworthiness"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paQZb2-7k","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/consumerfinancelaw.co.uk\/wp\/wp-json\/wp\/v2\/posts\/454","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/consumerfinancelaw.co.uk\/wp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/consumerfinancelaw.co.uk\/wp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/consumerfinancelaw.co.uk\/wp\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/consumerfinancelaw.co.uk\/wp\/wp-json\/wp\/v2\/comments?post=454"}],"version-history":[{"count":3,"href":"https:\/\/consumerfinancelaw.co.uk\/wp\/wp-json\/wp\/v2\/posts\/454\/revisions"}],"predecessor-version":[{"id":457,"href":"https:\/\/consumerfinancelaw.co.uk\/wp\/wp-json\/wp\/v2\/posts\/454\/revisions\/457"}],"wp:attachment":[{"href":"https:\/\/consumerfinancelaw.co.uk\/wp\/wp-json\/wp\/v2\/media?parent=454"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/consumerfinancelaw.co.uk\/wp\/wp-json\/wp\/v2\/categories?post=454"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/consumerfinancelaw.co.uk\/wp\/wp-json\/wp\/v2\/tags?post=454"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}