The Parliamentary Joint Committee on Corporations and Financial Services has published its report on Access for Small and Medium Business to Finance.

Its recommendations include:

• that the Code of Banking Practice and the Mutual Banking Code of Practice be amended to include a standardised notice period for notifying business borrowers of changes to loan terms and conditions that may be materially adverse for them.
• that the government undertake further workto explore policy measures which may strengthen the mutual sector as a ‘fifth pillar’ of the banking system and thereby promote competition.