Tag: BBA

ICB final report recommends ring-fencing

ICB final report recommends ring-fencing

The Independent Commission on Banking’s (ICB) final report has been published today and is recommending that UK banks should ring-fence their retail banking operations. According to the report, ring-fencing would protect banks from riskier investment banking divisions and would “make it easier and less costly to resolve banks that get into trouble”. The ICB, which [...]

September 12, 2011 | 0 Comments More
Proposed ring-fencing will harm economic growth

Proposed ring-fencing will harm economic growth

Leading think tank, the Ernst & Young ITEM Club, believes the proposed ring-fencing of retail and investment banks will reduce economic growth. The think tank’s prediction comes just a week before the publication of the Independent Commission on Banking’s (ICB’s) final report on ring-fencing. The ICB, which was established in June 2010, is considering forms [...]

September 5, 2011 | 0 Comments More
Mortgage approvals nudge ahead

Mortgage approvals nudge ahead

The UK’s High Street banks approved 74,590 mortgages in July, with the figure up from 71,521 in June and ahead of the previous six-month average (69,803). According to the British Bankers’ Association (BBA) house purchase approvals came in at 33,417, activity having gathered pace since June (32,123) and exceeded the previous six-month average (30,695). At [...]

August 23, 2011 | 0 Comments More
Bank ring-fencing threatens UK economy

Bank ring-fencing threatens UK economy

Britain’s banks are warning that ring-fencing their retail activities, to protect against investment banking losses, could endanger the UK economy because of the cost involved. A ring-fencing proposal will form part of the Independent Commission on Banking’s (ICB’s) final report, due out in September. However, according to the British Bankers’ Association (BBA), the proposed reform [...]

August 23, 2011 | 1 Comment More
Weak mortgage lending continues

Weak mortgage lending continues

Annual growth in banks’ gross mortgage lending stood at £7.6 billion in June, with the figure 11% lower than a year earlier, according to the British Bankers’ Association (BBA). Early signs of growth in the buy-to-let market were evident but both house purchase and remortgaging approvals continued to be weak, and with repayments still at [...]

July 27, 2011 | 0 Comments More
Banks abandon PPI legal battle

Banks abandon PPI legal battle

May 9, 2011 | 0 Comments More
BBA: Mortgage lending remains subdued

BBA: Mortgage lending remains subdued

The British Bankers’ Association (BBA) has today revealed a slight rise in the number of new mortgages approved by the major banks in March. According to the BBA, the number of new mortgages approved in the month stood at 31,660 - marginally better than February’s level of 30,178. However, mortgage approvals were down 10% on [...]

April 27, 2011 | 0 Comments More
BoE: Mortgage approvals up in February

BoE: Mortgage approvals up in February

The Bank of England has today revealed mortgage approvals rose in February. According to the Bank, there were 46,967 loans approved in the month, up from January’s 46,152. The level of approvals was broadly in line with analysts forecasts of a level of 46,800. In the meantime, the number of remortgaging loans approved totalled 35,725 [...]

March 29, 2011 | 0 Comments More
HMRC: House sales rise in February

HMRC: House sales rise in February

HM Revenue & Customs (HMRC) has today revealed a slight rise in the number of homes sold in February in the UK. According to HMRC, 57,000 homes worth at least £40,000 or more were sold in the month – 4,000 more than January‘s levels. The figures come as the British Bankers’ Association (BBA) revealed a [...]

March 23, 2011 | 0 Comments More
BBA: Mortgage approvals up 3% in February

BBA: Mortgage approvals up 3% in February

The British Bankers’ Association (BBA) has today revealed a slight rise in the number of new mortgages approved by the major banks in February. According to the BBA, the number of new mortgages approved in the month stood at 29,923 – marginally better than January’s level of 29,159, albeit lower than economists forecast of 29,350. [...]

March 23, 2011 | 0 Comments More
HMRC: House sales slump in January

HMRC: House sales slump in January

HM Revenue & Customs (HMRC) has revealed a slump in the number of homes sold in January in the UK. According to HMRC, just 54,000 homes worth at least £40,000 or more were sold in the month – the lowest number since January 2010. The figures are revealed as the British Bankers’ Association (BBA) reported [...]

February 23, 2011 | 0 Comments More
BBA: Mortgage approvals down 29% on year in January

BBA: Mortgage approvals down 29% on year in January

The British Bankers’ Association (BBA) has today revealed a further fall in the number of new mortgages approved by the major banks in January. According to the BBA, the number of new mortgages approved in the month stood at 28,932 - marginally better than December’s levels but 29% lower compared with January 2010. The figures [...]

February 23, 2011 | 0 Comments More
BBA: Mortgage approvals continue to fall

BBA: Mortgage approvals continue to fall

The British Bankers’ Association (BBA) has today revealed a further fall in the number of new mortgages approved by the major banks in December. According to the BBA, the number of new mortgages approved in the month fell to 28,726, down from 29,696 in November - representing the lowest figure since January 2009. Net mortgage [...]

January 26, 2011 | 0 Comments More
BBA: Mortgage approvals continue to fall

BBA: Mortgage approvals continue to fall

The British Bankers’ Association (BBA) has today revealed a further fall in the number of new mortgages approved by the major banks in November. According to the BBA, the number of new mortgages approved in the month fell to 29,991, down from 30,689 in October - representing a 20-month low. Net mortgage lending fell to [...]

December 23, 2010 | 0 Comments More
BBA: Mortgage approvals continue downward trend

BBA: Mortgage approvals continue downward trend

The British Bankers’ Association (BBA) has today revealed a further fall in the number of new mortgages approved by the major banks in October. According to the BBA, the number of new mortgages approved in the month fell to 30,766, down from 31,058 in September - representing the lowest level since March 2009 - when [...]

November 23, 2010 | 0 Comments More
Which? report concludes savers losing billions in interest

Which? report concludes savers losing billions in interest

Savers are missing out on billions of pounds in interest payments, according to a report by consumer group, Which? According to the report, by leaving money in low interest accounts, savers are missing out on a possible £12 billion. According to the consumer association, interest rates are not made clear to consumers on their bank [...]

October 26, 2010 | 0 Comments More
BBA reports further fall in mortgage lending

BBA reports further fall in mortgage lending

The British Bankers’ Association (BBA) has today revealed a further fall in the number of new mortgages approved by the major banks in September. Mortgage lending slumped to its lowest level in a decade in September, while mortgage approvals dived to an 18-month low, said the BBA. Net mortgage lending by the major banks totalled [...]

October 25, 2010 | 0 Comments More
City bankers to receive £7bn bonuses this year

City bankers to receive £7bn bonuses this year

Leading think tank, the Centre for Economics and Business Research (CEBR), has unveiled City bankers will be in receipt of a bonus pot of £7.3 billion this year. The total is 4% lower than last year’s total and considerably lower than the £11 billion paid out at the height of the banking boom in 2007. [...]

October 5, 2010 | 1 Comment More
BBA reports further fall in mortgage lending

BBA reports further fall in mortgage lending

The British Bankers’ Association (BBA) has today revealed a further fall in the number of new mortgages approved by the major banks in August. According to the BBA, mortgage approvals for the month stood at 31,767, down from 34,219 in July - representing the third consecutive monthly fall and the lowest since April 2009. The [...]

September 23, 2010 | 1 Comment More
Nick Clegg warns banks of bonus crackdown

Nick Clegg warns banks of bonus crackdown

Deputy Prime Minister, Nick Clegg, has today warned banks over their excessive bonuses, suggesting the coalition Government will take very serious action if they “pay themselves unjustified bonuses”. Speaking to BBC Radio 4′s Today programme, Mr Clegg said: “Clearly, if the banks pay themselves unjustified bonuses, we reserve the right to take very serious action [...]

September 21, 2010 | 0 Comments More