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
Cardiff, Edinburgh and Sunderland are today revealed to be regional “banking hotspots”, with hundreds of new roles being created for local people by banks, according to official figures from the Office for National Statistics.Read more
Major report sets out key recommendations for the industry and urges regulators to give consumers certainty that their money is equally well-protected wherever they choose… Read more
Commenting on the increase in the bank levy announced in today’s budget, BBA Chief Executive Anthony Browne said:
“Banks in the UK already pay more than £40 billion in taxes each year, helping to fund schools and hospitals across the country.
“The bank levy imposes a significant cost on banking businesses in the UK, which is making many banks move work and jobs to other parts of the world, and is deterring international banks from investing in the UK. This major increase in the bank levy is likely to accelerate that process and damage the competitiveness of the UK economy.
“This will also further disadvantage UK headquartered banks by increasing tax on their overseas activities, while their competitors in those markets do not pay this tax at all.”Read more
Responding to a report from the Northern Ireland Affairs Committee, BBA Executive Director of Business Finance Irene Graham said: “Banks in Northern Ireland want to… Read more
Responding to the findings of the FSB Voice of Small Business Index Q1 2015, BBA Executive Director of Business Finance, Irene Graham, said: “When it… Read more
Responding to the ECJ’s judgment on counter parties involved in clearing of securities, Anthony Browne, the Chief Executive of the BBA, said:
“This is good news for all those who believe in the single market.
“It’s vital that there is a level playing field for all businesses within the EU, whether they are based inside or outside the eurozone.
“This judgment shows that EU institutions can work in the best interests of all members states.”Read more
Responding to the announcement by the Liberal Democrats that they plan to impose a new tax on banks in the UK, a BBA spokesman said:
“Banks in the UK already pay more tax than any other industry. The tens of billions of pounds the banking sector pays each year make a major contribution to funding schools and hospitals across the country.
“Introducing yet another tax on banks will not improve financial stability.”Read more
Commenting on the SME Finance Monitor 2014 Q4 results, a BBA spokesperson said:
“This research shows that nearly eight out of 10 businesses have had the green light for finance in the past 18 months and confidence amongst SMEs is at its highest levels since this survey began in 2011.
“It’s great that businesses are saying they feel positive about their future and few now see securing finance as a barrier to doing business.
“There is, however, still a gap between perception and reality when it comes to being approved for lending. If you’re thinking about applying we would urge you to speak with your bank – you are a lot more likely to get a “yes” than you might think.”Read more
Richard Woolhouse, Chief Economist at the BBA, said:
“We’ve seen a sharp drop in bank deposits in the last month as savvy customers take advantage of the attractive rates on offer through the Government’s pensioner bond scheme.
“There continues to be strong demand for personal borrowing which is at its highest levels in recent years.
“The housing market appears to be bottoming out with a slight increase in approvals for new purchases in the last month but this is still significantly down on the levels of activity we saw last year.”Read more
Responding to the announcement by the Prudential Regulation Authority and the Financial Conduct Authority on how they will include non-executive directors in the Senior Managers Regime, BBA Executive Director Simon Hills said:
“The banking industry supports the greater accountability that will be introduced by the new Senior Managers Regime. We did however express concerns last year that applying the new rules to all non-executive directors could have undermined their independence by making them too ‘hands on’.”Read more