British Bankers' Association

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British Bankers' Association
British Bankers’ Association logo.svg
Abbreviation BBA
Motto The voice of banking & financial services
Formation 1919
Legal status Non-profit company
Purpose Banking in the UK
Region served UK
Membership 253 banks
Chief Executive Anthony Browne

The British Bankers’ Association (BBA) is a trade association for the UK banking and financial services sector. It represents over 250 members, which are financial service providers registered in the UK. These member banks collectively provide a wide range of banking and financial services.

The association lobbies for its members and provides legislative and regulatory system for banking in the UK.


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.[1] 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.[2] The Bank of England argued that this revenue is offset by the cost of an 'implicit' taxpayer subsidy valued at up to £220bn through 2009 and 2010.[3] The UK bank bailouts following the 2007–2012 global financial crisis have been estimated to have cost as much as £850 billion,[4] dwarfing any tax revenue received from the businesses involved.


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.

Products and services[edit]


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, LIBOR is one of the fundamental standards for global financial markets.

Prior to September, 2012, BBA LIBOR (the London Interbank Offered Rate) was calculated and published by Thomson Reuters on behalf of the BBA. In July 2012, it came out that LIBOR had been systematically rigged by Barclays for many years, leading to the LIBOR scandal. Paul Tucker, Deputy Governor of the Bank of England, compared the BBA LIBOR market to a "cesspit" of dishonesty.[5] In September, 2012, it was decided that the BBA would be stripped of its role in LIBOR rate setting. Martin Wheatley said "the BBA acts as the lobby organisation for the same submitting banks that they nominally oversee, creating a conflict of interest that precludes strong and credible governance".[6]

Events and training[edit]

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.

High street banking statistics[edit]

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.

Global Operational Loss Database (GOLD)[edit]

The BBA manages the Global Operational Loss Database (GOLD) for its members. GOLD is an important tool for managing operational risk.

SME support[edit]

In line with the UK Government’s drive to support UK business, the BBA is a committed participant in the Business Growth Fund.[citation needed]

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.

Lost accounts[edit]

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.


Anthony Browne succeeded Angela Knight as chief executive on 1 September 2012.[7][8]

Senior personnel[edit]

  • Vacant, Honorary Chairman
  • Anthony Browne, Chief Executive
  • Sally Scutt, Deputy Chief Executive
  • Roger Brown, Executive Director – Research & Legal
  • Paul Chisnall, Executive Director – Financial Policy & Operations
  • Simon Hills, Executive Director – Prudential Capital, Risk & Regulatory Relationships
  • Eric Leenders, Executive Director – Retail
  • Lesley McLeod, Executive Director – Communications
  • David Poyser, Executive Director – Operations


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 Association for Payment Clearing Services (APACS) (which became UK Payments Administration (UKPA) in 2009).

Presidents and Chairmen since 1972[edit]



See also[edit]


External links[edit]