Foreign news: UK branch closure rate causes concern, Banque de France throws open its database
UK banks have closed more than 1000 branches over the past two years and the pace does not appear to be slowing, The Guardian reports. HSBC revealed that it has been shutting branches in the UK at a rate of about four a week and has plans to close 57 in the year ahead. This activity has prompted consumer group Which? to call on banks to consult with communities before closing branches. It said it was concerned that closures were "proceeding at a faster pace than any alternatives that are being put in place to assist vulnerable customers," pointing out that an estimated 20 million people in the UK did not use internet banking services. While the Australian finance industry is debating issues around access to data, the French central bank Banque de France has announced that it will provide an open data room, allowing researchers to explore de-identified data about financial services, companies and households. The Guardian reports that Banque de France governor Francois Villeroy de Galhau hopes analysis of the data will produce new models of risk, early warnings of systemic problems and other benefits.