Press releases

20th Jan 2015 Back to top
  • BBA quote on the FCA savings report

    A spokesman for the BBA said:

    “These have been frustrating years for savers. More than five years of the Bank of England’s base rate at a record low has fostered a low interest rate environment and that can be hard.”

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8th Jan 2015 Back to top
  • BBA response to StepChange Debt Charity – Action Plan on Problem Debt

    Commenting on StepChange’s action plan on problem debt, BBA Executive Director Eric Leenders said:

    “StepChange should be commended for bringing forward this action plan. The BBA welcomes its measures to encourage people to build up savings and financial resilience to help prevent them from falling into problem debt.

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6th Jan 2015 Back to top
  • BBA response to ring-fencing consultation

    Responding to the Prudential Regulation Authority’s consultation on the implementation of ring-fencing BBA Executive Director Paul Chisnall said:

    “The larger UK banks are getting to grips with the nuts and bolts of how to put ring-fencing into place.  The banking industry is gearing up to meet the challenge of making the necessary but varied and complex changes by the 2019 deadline.

    “In order to deliver the reforms on time – banks, the regulatory authorities and a number of government agencies will need to pull together to avoid any bottlenecks.  In particular we’d like the regulators to try to put in place the new regime as quickly as possible to allow banks to make final decisions about how to structure their businesses.”

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  • BBA responds to today’s BoE Credit Conditions Survey

    Customers benefiting from competitive lending 

    Commenting on today’s Credit Conditions Survey from the Bank of England, BBA Chief Economist Richard Woolhouse said:

    “We have an increasingly mixed lending picture. These figures suggest demand for mortgage lending fell more strongly than at any time for six years, but appetite for personal loans and credit cards is rising consistently.

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1st Jan 2015 Back to top
  • New research shows the young are more likely to fall for scams

    Young adults are more likely than their parents and grandparents to transfer money to a fraudster

    Young adults under the age of 25 could be much more vulnerable to scams and techniques like “vishing” than pensioners, according to polling. New online research has found that nearly 1 in 6 (16%) of those aged 18-25 who have a bank account told a survey that they would willingly authorise a money transfer into a “safe” account if someone they believed worked for their bank instructed them to do so in order to investigate a security breach.

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29th Dec 2014 Back to top
23rd Dec 2014 Back to top
  • November 2014 figures for the high street banks

    Commenting of the BBA’s High Street Banking statistics for November, the BBA’s Chief Economist, Richard Woolhouse said:

    “Today’s figures show quite a sharp chill to the housing market in recent months – with house purchase approvals during November 20% lower than a year before.

    “It will be interesting to see what impact the stamp duty changes the Chancellor unveiled in his Autumn Statement will have early in the New Year. They could prove a modest stocking filler for homebuyers and estate agents.

    “It’s also striking to see that unsecured borrowing such as personal loans are growing at their fastest rate for six years. This suggests consumers may be feeling more confident which bodes well for a fruitful Christmas for retailers.”

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17th Dec 2014 Back to top
  • Better lending conditions for businesses

    Commenting on the Bank of England’s Agents’ Summary of Business Conditions, BBA Chief Economist Richard Woolhouse said:

    “Today’s agents’ summary makes it clear that credit conditions are improving.  In particular, lending to smaller firms appears to be increasing and some sectors where credit had previously been very tight are now able to access bank finance more easily.

    “That’s very important. We need businesses of all sizes to be confident about borrowing because that helps them invest and supports economic growth.

    “The summary also underlines that the Mortgage Market Review is considered to be behind the slowdown in the housing market and supports the view that new regulation is partly responsible for this cooling.”

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16th Dec 2014 Back to top
  • BBA response to BoE stress tests announcement

    Responding to the results of the Bank of England’s stress testing exercise of the UK banking system, BBA Executive Director Simon Hills said:

    “These tests confirm that the UK’s banking industry is in a much stronger position and that the recent reforms are working.

    “The majority of our major banks would be able to weather even the severest of storms and appropriate action is being taken to make all banks more resilient.

    “This is good news for customers because it means that banks should be able to continue to perform their necessary functions of taking deposits and giving out loans, even if the UK experiences a severe downturn.”

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14th Dec 2014 Back to top