Press releases

10th Feb 2016 Back to top
  • BBA comments on Joint Fraud Taskforce launch

    Commenting on the launch of the Joint Fraud Taskforce announced by the Home Secretary at Mansion House today, the BBA’s Chief Executive Anthony Browne said:

    “Tackling fraud is a top priority for the industry. Customers and businesses rightly expect high levels of security whether they bank online or in person.

    “The Joint Taskforce demonstrates that banks, Government and law enforcement agencies are working closely together to combat financial crime. Fraudsters are constantly adopting new tactics so it is critical that we join forces to stop them ripping off individuals and businesses.

    “The BBA will also shortly be launching a new Financial Crime Alerts Service, sharing real-time intelligence from law enforcement agencies with banks to help them combat financial crimes.”

    Read more

9th Feb 2016 Back to top
  • BBA comments on Open Banking Working Group report

    Commenting on the publication of the Open Banking Working Group’s report today, the BBA’s Chief Executive Anthony Browne said:

    “Opening up data from everyday bank transactions – known as ‘open banking’ – has the potential to revolutionise the way consumers and businesses manage their money.

    “Making more bank data openly available will make it easier for people to shop around for products tailored to their needs and get the best deals. But crucially, no data would be shared without the explicit consent of the customer and that data will be protected with robust security checks.

    “The UK has the potential to be a world leader in the way we use data to help drive competition and innovation in the banking sector, which will give customers more choice and help them save money.”

    Read more

2nd Feb 2016 Back to top
  • BBA calls on European Commission to ensure financial regulation supports competition and growth

    The BBA has today called on the European Commission to ensure that the EU regulatory framework is working efficiently for both consumers and industry.

    In a detailed 80-page response to the Commission’s call for evidence on financial sector regulation, the BBA highlights areas of concern supported by evidence from the industry. It identifies regulatory issues across four different themes and proposes over 50 suggested remedies to the issues raised.

    Read more

1st Feb 2016 Back to top
  • BBA response to Bank of England Money and Credit release

    Commenting on the latest Bank of England monthly Money and Credit statistical release, BBA Chief Economist Richard Woolhouse said:

    “The increase in mortgage approvals and remortgaging provides further evidence that the housing market is in robust health.

    “It seems that shrewd consumers are rushing to grab competitive deals amidst uncertainty about when interest rates will shift from their current record lows.”

    Read more

27th Jan 2016 Back to top
  • December 2015 figures for the high street banks

    Richard Woolhouse, Chief Economist at the BBA, said:

    “Last year was a strong year for household borrowing. There was a 6% rise in mortgage borrowing compared to 2014 and consumer credit expanded at more than 5% annually within an overall unsecured market which is growing at nearly 10% annually.

    “Over the last few years businesses have been reducing their bank borrowing partly by deleveraging or by refinancing debt through capital markets; 2015 saw business lending other than construction and real estate move into positive annual growth.

    “This data shows that the amount spent on credit cards in December declined compared to 2014. It seems that consumers were less reliant on credit cards to fund purchases last month despite Christmas shopping and seasonal sales.”

    Read more

19th Jan 2016 Back to top
  • BBA comment on Tier 2 visas

    Anthony Browne, Chief Executive of BBA, said: “Restrictions on visas are impacting negatively on Britain’s competitiveness as an international banking centre. As set out in the BBA’s Winning the Global Race report, we have to act now together with regulators and government to maintain the UK’s leading position in the global competitiveness race.

    Read more

15th Jan 2016 Back to top
  • BBA comments on Bank of England’s Credit Conditions Survey Q4 2015

    Commenting on the Bank of England’s Credit Conditions Survey Q4 2015, BBA Chief Economist Richard Woolhouse said:

    “This data demonstrates that banks are lending to households and businesses right across the country. Credit conditions are improving as demand for lending from households gathers steam.

    “Unsecured lending increased significantly but it remains well below pre-crisis levels. This suggests that reports the economy is in the midst of a credit bubble are most likely misguided.”

    Read more

30th Dec 2015 Back to top
24th Dec 2015 Back to top
  • November 2015 figures for the high street banks

    Richard Woolhouse, Chief Economist at the BBA, said:

    “These statistics show the continued strength of the mortgage market, with monthly new lending higher than at any time over the past seven years.

    “Net lending to companies is now expanding, particularly in the wholesale and retail sectors, as businesses take advantage of record low interest rates.”

    Read more

23rd Dec 2015 Back to top
  • Grandparents topping up savings for youngsters in the run up to Christmas

    Anthony Browne, Chief Executive of the BBA, said:

    “Kids will be getting increasingly excited about receiving the latest blockbuster toys with Christmas around the corner. In many ways, however, the best gift a parent can give is a top up to their children’s savings. This can help to provide a solid financial foundation for life, while also giving them access to a first-class education and independence when they leave home.

    “Savers have been hard-pressed in recent years due to low interest rates. The Bank of England has suggested that interest rates are likely to start rising gradually in 2016 so it is a good time to think about boosting savings.”

    Read more