Covenant and Competition & Markets Authority: Difference between pages

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1.
(CMA).


A formal legal agreement to take, or not to take, certain actions.
The UK government department responsible for promoting competition, within and outside the UK, for the benefit of consumers.


The CMA:
*Inquires into mergers, markets, trade practices and the regulation of the major regulated industries under competition law; and
*Enforces consumer protection legislation to tackle practices and market conditions that restrict consumers' choice.


2.


In loan documentation, a promise given by the borrower to take, or not to take, specified actions relevant to the borrower's creditworthiness.<ref>http://www.treasurers.org/node/8842</ref>  For example, a ''financial covenant'' to maintain a minimum ratio of net worth to debt.
The CMA was formed by the merger of the Competition Commission with certain responsibilities of the Office of Fair Trading.




3.
==See also==
* [[Antitrust law]]
* [[Challenger bank]]
* [[Competition]]
* [[Federal Trade Commission]]
* [[Financial Conduct Authority]]  (FCA)
* [[Joint Regulatory Oversight Committee]]  (JROC)
* [[Merger]]
* [[Prudential Regulation Authority]]  (PRA)
* [[Regulation]]
* [[Supervision]]


In relation to pension funds, the credit strength of the sponsoring employer and its commitment to the pension fund.
[[Category:Compliance_and_audit]]
 
 
== See also ==
* [[Accounting exposure]]
* [[Asset cover]]
* [[Breach of covenant]]
* [[Compliance]]
* [[Contingent covenant]]
* [[Covenant-lite]]
* [[Credit risk]]
* [[Event of default]]
* [[Financial covenant]]
* [[Generally accepted accounting principles]]
* [[Incurrence covenant]]
* [[Interest cover]]
* [[Loan agreement]]
* [[Maintenance covenant]]
* [[MCT]]
* [[Net worth]]
* [[Non-financial covenant]]
* [[Restrictive covenant]]
* [[Waiver]]
 
 
==References==
<references/> Treasury Essentials: Covenants, The Treasurer, March 2013
 
[[Category:Long_term_funding]]
[[Category:Manage_risks]]
[[Category:Risk_frameworks]]
[[Category:Treasury_operations_infrastructure]]

Latest revision as of 12:50, 20 January 2024

(CMA).

The UK government department responsible for promoting competition, within and outside the UK, for the benefit of consumers.

The CMA:

  • Inquires into mergers, markets, trade practices and the regulation of the major regulated industries under competition law; and
  • Enforces consumer protection legislation to tackle practices and market conditions that restrict consumers' choice.


The CMA was formed by the merger of the Competition Commission with certain responsibilities of the Office of Fair Trading.


See also