The Federal Coalition will take action to develop a retail corporate bond market, Coalition finance spokesman Andrew Robb said yesterday.In a speech at the University of Melbourne, Robb said that such a market could be an important alternative to banks for funding corporates."Whilst banks should continue to have sufficient capital and credit risk appetite to support corporate lending, the requirements for funding loom as a source of increased constraint on bank balance sheets," he said."In this context some of the financing needs of the corporate and infrastructure sectors may be better held within a retail corporate bond market."Robb criticised the pace of the federal govermment's progress in developing a market and laid out five places to look for ways to stimulate its development:• examining the scope for greater use of a short form prospectus;• using the continuous disclosure regime within the ASX;• reviewing the director's liability for prospectuses;• improving accessibility for purchasers; and,• educating the market.