Proposals for a loan-level data collection of buy-to-let lending: a consultation
Last updated: 10 Jun 2016
- Consulting body:
- Bank of England
- Period of consultation:
- Runs from 29 April 2016 to 10 June 2016
- CML action:
- Response submitted
The Bank of England published a consultation on its proposals to collect loan-level buy-to-let lending data on 29 April 2016.
The collection is intended to support the needs of the Monetary Policy Committee, the Financial Policy Committee and the PRA Board1 and therefore aims to combine Bank of England statistical and regulatory data requirements into one collection for the first time.
The Bank invited comments on:
- the proposed list of attributes,
- the potential difficulties in obtaining data on lending to corporates, and;
- the proposed timing
The CML have submitted a response to the call for evidence and, broadly, we recognise that the proposal to collect loan-level buy-to-let data is essential to provide timely data to support the Bank’s supervisory functions.
We advocate that the Bank grant lenders a more generous reporting timescale, ask for additional clarity in cases of unclear data attributes, and request reporting exemptions for specific lending types with little market significance.
Read the full CML response, available to download below.