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
In 2000, the BBA launched the first global operational loss database (GOLD) in response to our members identifying the benefits of sharing event information in a structured way to inform and improve operational risk management practice.
bbaGOLD – external information for better operational risk management
A working group of members defined an original classification taxonomy which was subsequently mapped into the Basel Committee’s categories of loss event types and business lines in 2005. Developing that structure for more granularity than Basel and including additional categories for causal factors, failed controls, business product or function, and reputational impact, led the BBA into a joint venture with the global risk consultancy, RiskBusiness International Ltd, to offer on-line services for the database and access to an integrated key risk indicator library.
Web-access allows users to enter event information on screen, filter the database events by criteria (eg event type, time period, location) to see their own events in comparison to anonymous events reported by other participants and to generate analyses or download information from the standardised classifications.
bbaGOLD is operated through a satellite website (www.bbagold.org) which gives participation information, database outlines, content summary and contact points.