Industry responses

As well as proactively campaigning, the BSA frequently comments on consultative papers issued by the Financial Conduct Authority and Prudential Regulation Authority, and by Government departments such as the Treasury or the Department for Business, Innovation and Skills. 

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Client money and unbreakable deposits

To be of interest and benefit to the maximum number of building societies (and probably banks), we believe firms should be allowed to deposit client money in unbreakable deposits of up to 95 days.  

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Pillar 2A capital requirements and disclosure

The BSA's response to PRA CP 12/17

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Pillar 2 Liquidity - second consultation

The BSA's response to PRA CP 13/17

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IPPR Commission on Economic Justice

A BSA submission to the Commission's work on supporting mutuals.

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Recovery planning

These requirements appear to go above and beyond the Bank Recovery and Resolution directive.  We are particularly concerned by the "playbook" and "fire drills".

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MiFIR trading obligation

The BSA responded to ESMA's consultation on the implementation of the trading obligation under MiFIR.

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BSA endorses the UK Money Markets Code

The BSA has formally endorsed the new Code, and we have encouraged all relevant members - i.e. who are UK Market Participants as defined in the Code - to work towards committing to, and embedding, the new Code by the end of 2017.

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Regulatory reporting

We are disappointed that the “inconsistencies” between the templates in the policy statement and the XBRL taxonomy were not discovered at the time of publication.

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Our response to FRED 67

We welcome any effort to improve, clarify and simplify accounting regulation.

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