| British Bankers' Association | |
|---|---|
| Abbreviation | BBA |
| Motto | The voice of banking & financial services |
| Formation | 1919 |
| Legal status | Non-profit company |
| Purpose/focus | Banking in the UK |
| Location | Pinners Hall, 105-108 Old Broad Street, London EC2N 1EX |
| Region served | UK |
| Membership | 253 banks |
| Chief Executive | Angela Knight CBE |
| Website | BBA |
The British Bankers’ Association (BBA) is the trade association for the UK banking and financial services sector. It represents over 250 members, which are headquartered in 50 countries and have operations in 180 countries worldwide. These member banks collectively provide the full range of banking and financial services and make up the world’s largest international banking centre.
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The BBA promotes a legislative and regulatory system for banking and financial services - in the UK, Europe and internationally - which takes account of the needs and concerns of 253 members, including 24 associate and 48 professional members.
The BBA engages with the UK government and politicians, devolved administrations and European institutions as well as the media and other key stakeholders to ensure the industry’s voice is heard and to highlight the strength and importance of UK banking.
In 2010, the BBA measured UK banks' aggregate balance sheet at £4.1 trillion. According to a PwC report commissioned by the City of London, UK banks contributed £63 billion in tax to the UK economy in 2010/11.
The BBA is governed by the Board, which meets 6 times per year and comprises the BBA Chief Executive and the Chief Executives of the largest banks operating in the UK, both retail, wholesale and from overseas. The Board represents the whole of the BBA membership. In addition to this the BBA Council meets twice yearly.
The BBA Board and Council are informed by over 150 committees, panels and working parties that regularly meet to consider matters from high level strategy to specific and/or ad hoc issues.
The BBA responds to the full range of issues affecting retail and wholesale banking and the wider financial services industry. As well as its interaction with current affairs, it works to form and reform lasting policy decisions.
Everyday, BBA LIBOR (the London Interbank Offered Rate) is calculated and published by Thomson Reuters on behalf of the BBA.
BBA LIBOR is the primary benchmark for short term interest rates. It indicates the average rate at which a leading bank can obtain unsecured funding for a given period in a given currency. It therefore represents the lowest real-world cost of unsecured funding in the London market. As such, BBA LIBOR is one of the fundamental standards for global financial markets.
Annually, the BBA hosts around 125 events including an annual conference. The BBA offers members and non-members an extensive programme of training workshops, seminars, conferences and online courses planned and delivered by a dedicated events team. The BBA also holds external events at Pinners Hall: a total of 140 in 2011.
The BBA produces a monthly report on high street banking figures which is used by banks and by the media. This data informs the BBA Annual Abstract of Banking Statistics which is published yearly each August.
The BBA manages the Global Operational Loss Database (GOLD) for its members. GOLD is an important tool for managing operational risk.
In line with the UK Government’s drive to support UK business, the BBA is a committed participant in the Business Growth Fund.
The BBA is leading efforts to increase funding to small and medium-sized enterprises through the Better Business Finance campaign. The BBA collaborated with the British Chambers of Commerce to deliver 15 outreach events across the UK throughout 2011 in support of this initiative.
Better Business Finance is complemented by the website mentorsme: an online gateway through which small and medium businesses can connect with mentoring organisations and individuals working in their area.
The BBA has ongoing responsibility for a number of personal and business customer services. These include the website My Lost Account: a free service that helps customers trace their lost accounts and savings.
The BBA was founded in 1919. The Association was reconstituted in 1972, the same year it first accepted foreign banks. In 1975 responsibility for money transmission services moved to APACS, which became UKPA in 2009.
As well as its daily contributions to more traditional media, the BBA has an active social media presence. Activity can be followed on the BBA blog and on Twitter @BritishBankers, Facebook and [http://www.linkedin.com/company/british-bankers'-association LinkedIn.
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