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603997
star this property registered interest false more like this
star this property date less than 2016-10-17more like thismore than 2016-10-17
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HM Treasury more like this
star this property answering dept id 14 remove filter
star this property answering dept short name Treasury more like this
unstar this property answering dept sort name CaTreasury more like this
star this property hansard heading Bank Services: Standards remove filter
star this property house id 1 more like this
star this property legislature
25259
unstar this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, what the timeline is for implementing the Open Banking Standard; and how he plans to ensure that sensitive banking data passes safely and securely from banks to third parties when that standard is implemented. more like this
star this property tabling member constituency Newcastle upon Tyne Central more like this
star this property tabling member printed
Chi Onwurah more like this
star this property uin 48843 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
unstar this property date of answer remove filter
star this property answer text <p>Treasury ministers and officials have meetings with a wide variety of organisations in the public and private sectors as part of the process of policy development and delivery. Details of ministerial and permanent secretary meetings with external organisations on departmental business are published on a quarterly basis and are available at: <a href="https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel" target="_blank">https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel</a></p><p> </p><p>The Competition and Markets Authority (CMA) published the final report of its market investigation into retail banking on 9 August 2016. As part of this the CMA requires the nine largest UK banks to develop and adopt an open banking standard for application programming interfaces (APIs) to allow access to customer account information, as set out in the revised Payment Services Directive (PSDII) which will come into force in January 2018. These nine banks are required to deliver open data APIs and midata APIs by Q1 2017, and deliver the full open API banking standard by early 2018. Data protection and cyber security are key considerations in PSDII, and the government will be consulting on the transposition of this directive shortly.</p><p> </p>
star this property answering member constituency Brighton, Kemptown more like this
star this property answering member printed Simon Kirby more like this
star this property grouped question UIN 48842 more like this
star this property question first answered
less than 2016-10-20T14:28:57.137Zmore like thismore than 2016-10-20T14:28:57.137Z
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3929
star this property label Biography information for Simon Kirby more like this
star this property tabling member
4124
unstar this property label Biography information for Chi Onwurah more like this