Latest: British Banks Association

Taxpayer to underwrite £40bn in SME loans

Chancellor of the Exchequer, George Osborne, has revealed that the Government’s credit easing scheme will underwrite banks loans of up to £40 billion to Britain’s smaller businesses. Speaking on BBC 1′s Andrew Marr Show, the Chancellor explained that underwriting the loans will mean that companies with turnover of less than £50 million should be able [...]

November 27, 2011 | 0 Comments More

Banks sign up to current account improvements

Britain’s biggest banks are improving the ways in which they operate personal current accounts, with the aim of helping millions of people keep on top of their finances. According to the British Bankers’ Association (BBA), all full service current account holders will in future receive: 1. Text alerts when account balances gets close to their [...]

November 23, 2011 | 0 Comments More

Government unveils mortgage indemnity scheme

The Government yesterday unveiled a new housing strategy which promises to break the current cycle in which “lenders won’t lend, builders can’t build and buyers can’t buy”. At the heart of the strategy are plans for a new-build mortgage indemnity scheme that could give a helping hand to up to 100,000 prospective buyers currently frozen [...]

November 22, 2011 | 0 Comments More

BBA: banks can’t save sovereigns

“Regulatory and legal frameworks are not going to result in the essential economic steps that need to be taken by an increasing number of eurozone countries”, writes British Bankers’ Association chief executive, Angela Knight, on her blog. According to Ms Knight, the core of the crisis is too much government spending; too little early action [...]

November 14, 2011 | 0 Comments More

BBA backs fraud-fighting initiative

The British Bankers’ Association and the Council of Mortgage Lenders are among the 34 organisation that have signed up to “Fighting Fraud Together” a multi-sector initiative launched today. The Government, industry representatives, voluntary groups and law enforcement agencies have agreed to jointly tackle fraud in the UK by: 1. Expanding and extending the successful activities [...]

October 12, 2011 | 0 Comments More

BBA: financial transaction tax a “job loser”

The British Bankers’ Association (BBA) has responded to EU President José Manuel Barroso’s approval of a financial transaction tax saying it would be a “job loser” and that the costs would be borne by the wider economy. The BBA argues that it would not be a tax on banks, but rather on their customers for [...]

September 28, 2011 | 0 Comments More

ICB final report ring-fencing proposals

In its final report, the Independent Commission on Banking (ICB) recommends the separation of retail banking and wholesale/investment banking on the basis that structural separation should make it easier and less costly to resolve banks that get into trouble. The report argues that one of the key benefits of separation is that creditors would be [...]

September 12, 2011 | 0 Comments More

BBA focuses on elderly customers

Amid the turmoil of proposed new banking reform and the horrors of the eurozone debt crisis, the British Bankers’ Association (BBA) has devoted time to the development of secure strategies for elderly customers, boldly taking up the challenges that an ageing population presents to the UK’s financial services industry. After a get together yesterday with [...]

August 31, 2011 | 0 Comments More

BBA anguish over uncosted regulatory reform

“A chorus of concerned bankers and business people is now warning about the consequences to economic growth of further uncosted regulatory change”, the British Bankers’ Association (BBA) warns. The Association is asking policy makers to be “acutely aware” of the dangers of further increasing the cost of banking at a time when government priorities should [...]

August 23, 2011 | 0 Comments More

BBA defends Project Merlin SME lending

Responding to reports that banks involved in Project Merlin are still not lending enough to small businesses, the British Bankers’ Association (BBA) reports that total first quarter 2011 lending to the UK’s small and medium-sized enterprises (SMEs) stood at £16.8 billion. According to the BBA, the sum “very nearly” matches the lending intentions underpinning the [...]

May 23, 2011 | 0 Comments More

BoE and FSA set out new approach to supervision

The Bank of England and the Financial Services Authority (FSA) have published a joint paper setting out the current thinking on how the future Prudential Regulation Authority (PRA) will approach supervision. According to FSA chief executive, Hector Sants, the new model incorporates the lessons learned from the last financial crisis and from firm failures of [...]

May 20, 2011 | 0 Comments More

BBA statement as banks keel over on PPI appeal

The British Bankers’ Association (BBA) has issued the following statement regarding its judicial review of new rules from the Financial Services Authority (FSA) on handling Payment Protection Insurance (PPI) complaints: “The BBA on behalf of its members judicially reviewed the FSA and the FOS regarding the retrospective elements in the proposed FSA rules for handling [...]

May 9, 2011 | 0 Comments More

Borrowers better protected with new Lending Code

The British Bankers’ Association, the Building Societies Association and the UK Cards Association have published a new Lending Code which they say contains enhanced and new provisions for consumers, micro-enterprises and charities. The work is the result of an independent review by Professor Lorne Crerar of the University of Glasgow’s Law School and consultations with [...]

April 2, 2011 | 0 Comments More

BBA launches business finance website

The British Bankers’ Association (BBA) has launched a new website designed to support growing businesses. The site has been developed in conjunction with the UK’s largest High Street banks and provides a range of tools to help firms access the finance they need. Betterbusinessfinance.co.uk takes the form of a one-stop-shop where firms can find impartial [...]

March 20, 2011 | 0 Comments More

BBA: new proposals on debt management

The British Bankers’ Association (BBA) has published new proposals aimed at streamlining the process of debt management and delivering a better and fairer deal for customers. A report compiled with management consultancy firm, Accenture, calls for greater consistency in the way debt advice is provided and in how creditors deal with customers in financial difficulties, [...]

January 29, 2011 | 0 Comments More

High Court hears PPI complaints handling case

A judicial review launched by the British Bankers’ Association (BBA) begins in the High Court today. The UK’s banks are challenging the Financial Services Authority (FSA) regarding its rules for dealing with complains over payment protection insurance (PPI). Last year, the regulator ordered banks to review their past sales of the insurance and reopen some [...]

January 25, 2011 | 0 Comments More

Banks discuss bonus cuts

The UK’s biggest banks are holding discussions over the £7 billion in bonuses due to be awarded in the New Year, the BBC has reported. The British Bankers Association is said to be hosting the talks which could see bonuses trimmed back to a collective £4 billion, under a joint agreement. The next round of [...]

November 15, 2010 | 0 Comments More

BBA reaction to Bank Levy plans

The British Bankers’ Association (BBA) has responded to government plans, published today, for a levy on banks’ balance sheets by saying that its members are “committed to playing their part in restoring the UK economy”. However, the Association points out that there are over 200 overseas banks operating in the UK, on which the levy [...]

October 21, 2010 | 0 Comments More

PPI complaints handling delayed by judicial review

The British Bankers’ Association (BBA) looks set on a collision course with the Financial Services Authority (FSA), having said it will only continue to handle Payment Protection Insurance (PPI) complaints where the assessment of the complaint would not be affected by the outcome a judicial review launched earlier this week. The BBA has filed papers [...]

October 13, 2010 | 0 Comments More

BBA opts for judicial review of new PPI rules

The British Bankers’ Association (BBA) has filed papers with the High Court asking for a judicial review of some decisions made by the Financial Services Authority (FSA) and the Financial Ombudsman Service (FOS), in relation to Payment Protection Insurance (PPI). The BBA is contesting proposed new rules on complaints handling due to be implemented at [...]

October 10, 2010 | 0 Comments More

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