The BBA is now integrated into UK Finance. Please go to www.ukfinance.org.uk for new content and updates from UK Finance.
Material published by BBA prior to 1st July 2017 is still available on this website.
From 1 July 2017, the finance and banking industry operating in the UK will be represented by a new trade association, UK Finance. It will represent around 300 firms in the UK providing credit, banking, markets and payment-related services. The new organisation will take on most of the activities previously carried out by the Asset Based Finance Association, the British Bankers’ Association, the Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK and the UK Cards Association.x
BBA brief is a round up of each morning’s banking policy news prepared by the BBA’s media team. It is a selection of the articles in the papers and broadcast stories. The content does not reflect the views of the BBA.
Study finds that bank chief’s pay is good value compared to other industries
According to a study by Paterson Associates the pay of senior bank executives represents the best value to shareholders across FTSE 250 companies. It rated financial companies most highly in the period 2009-13 when it came to the pay awarded to chief executives compared with the amount of value added in terms of share price increases, buybacks and dividends. (FT, p.21)
Labour candidate calls on party to “hug a banker”
The Times reports that Will Martindale, an ex-banker and Labour candidate for Battersea, told an event last Monday that his party must take care in how it overhauls the financial sector: “We must do it in a way that doesn’t bash bankers. Now is the time that the Labour Party needs to change its language on banking. In a sense we need to hug a banker and to work with banking to get our hands dirty on the detail, to build our credibility.”
Carney calls for greater business investment
On the BBC’s Andrew Marr show yesterday Bank of England Governor Mark Carney stressed the benefits of recent reforms to bank bonuses which mean they are deferred for a long time and can be clawed back. On the state of the economy he said: “What we’ve had thus far is a consumer-led recovery. What we haven’t seen yet is business investment picking up… It’s part of the reason why we’re trying to provide as much clarity to business that the path of monetary policy, the path of interest rates, is going to be calibrated very carefully, to ensure that only when we see sustainable growth in jobs, in incomes, and in spending will we make adjustments.”
EU President: difficult for independent Scotland to join EU
On the BBC’s Andrew Marr show yesterday European Commission President Jose Manuel Barroso said it would be “extremely difficult, if not impossible” for an independent Scotland to join the European Union.Read more