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
Major lenders today publish details of borrowing to individuals and businesses classified by more than 9,000 postcode sectors at the end of 2013, six months prior to their release.
The industry-wide data has been compiled jointly by the BBA and the Council for Mortgage Lenders. Participating lenders will also publish their own figures on their websites.Read more
“The banks have now written to almost all affected businesses advising them of the outcome of the review of their file. 14,549 of these customers have now received redress outcomes and more than £1.2 billion has been accepted.”Read more
Since 2007, a huge amount of necessary work has been done to reform and repair our banking sector.Read more
Mobile and internet banking is now being used for transactions worth nearly £1 billion a day, according to a major industry-wide report into consumer-friendly technology by the BBA and EY.
The second Way We Bank Now report also shows that millions of customers are using contactless cards, payment by mobile and SMS balance alerts. In 2014 the rate of adoption of digital banking has grown strongly with more than 15,000 people downloading banking apps a day.Read more
Commenting on today’s Bank of England Bankstats, the BBA’s Chief Economist Richard Woolhouse said:
“Today’s data shows that mortgage approvals fell for the fourth consecutive month in a row to a level 20% below their January peak – still around half the pre-crisis level. This provides the strongest evidence so far that the housing market is cooling and suggests that the Mortgage Market Review is having an impact.
“Meanwhile, there’s good news on the lending front too. New business borrowing in the past three months was 19% higher than over the same period last year.”Read more
Commenting on the recommendations of the Bank of England’s Financial Policy Committee, BBA Chief Economist Richard Woolhouse said:
“This is a cautious and clever intervention by the Bank in its first major foray into macro prudential policy. The lending cap will have little impact on the market in the short-term, but sets an important backstop to ensure indebtedness does not get out of control and pose a risk to the broader economy moving forward. “Read more
Richard Woolhouse Chief Economist at the BBA said:
“Our figures indicate that the heat appears to be coming out of the housing market. These are the first mortgage approval figures we have seen since the introduction of the Mortgage Market Review, so it is significant they have fallen for the fourth month in a row. This is being driven by a drop in remortgaging and people borrowing against the value of their homes.
“There has also been a welcome expansion in business lending this month bolstered by borrowing from the energy sector.”Read more
Responding to the 3rd Annual Appeals Process report by the Independent External Reviewer, Professor Russel Griggs, BBA Chief Executive Anthony Browne said:
“Today’s report shows that the Appeals Process is working and that thousands of businesses have benefited. The process is really important as it allows businesses to ask their bank to look again at their finance application if they did not get the answer that they wanted first time. That’s why it’s great that two more banks are signing up.Read more