All about: British Bankers Association (BBA)

British Bankers Association (BBA) are the voice of banking and financial services. The BBA, otherwise known as the British Banking Association are the leading trade association for the UK banking and financial services sector. They represent a total of 200 bank members from 60 countries internationally regarding domestic and international current banking issues.

What do they do?

Some members would include Abbey National, The Bank of Ireland and the Bank of London and the Middle East Plc. İn financial terms, the BBA is probably making up the worlds largest banking centre, operating some 150 million accounts and contributing £50 billion annually to the UK economy. This is all stated on their associated website. Therefore, what is it that the BBA do?
The BBA influence decision makers. They promote a safe and regulatory system for banking and financial services both globally and domestically. They aim to consider the needs of its members and provide a competitive marketplace for their businesses to prosper.

How is it relevant to you?

They also play a key role in defending and promoting the banking industry when needed. They have contact and work alongside key government bodies and media members to ensure that the voice of the financial industry is heard and to ensure peoples awareness of its strengths and faults accordingly. For example, the BBA use a Libor rate or a BBA LIBOR (British Bankers’ Association London İnterbank Offered Rate) which monitors and reflects the current real rates of interest being applied by large to financial institutions worldwide and ultimately affects what is passed onto the customer in terms of borrowing and credit rates and savings. Therefore, we are able to see how the interest rates are measured in terms of that current economic environment, basically ensuring impartiality and fairness is provided to customers all over the world. Bank customers On a more personal level, the BBA also offers a great service to bank customers. They offer a wide range of information and advise to educate you about banking and its infrastructure. They can advise you on overdrafts, credit methods, interest rates and safe personal banking in the UK and abroad and much more. The BBA is governed by a board comprising the BBA Chief Executive and the Chief Executives of the largest banks operating in the UK and they meet six times in a year.