As of November 2012 CreditUtility remains unincorporated. In due course, it will most probably be registered as a UK Limited Liability Partnership. As a single-purpose entity, we expect[ed] CreditUtility to be disbanded before the end of 2015. However, having reached this milestone a few weeks ago, we have decided to continue our engagement with this issue both because it remains unresolved and because of several indications of increasing interest in these proposals from investors, regulators and market participants. We propose to continue until the problem is resolved or there is insufficient engagement to justify our efforts.

To maintain its neutrality and to avoid any conflict of interest, CreditUtility is both self-funded and operates on a not-for-profit basis. Support in the form of grants, commissioned research and advisory work are welcome. All such support will be screened to ensure that it is compatible with CreditUtility’s neutrality and independence principles.

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