Search results

Enter keywords and additional filters as required

Public results are displayed below. Members may login to view all search results.

Audit, accounting, risk & regulatory update

Event,
Contact:
christie sharp,
Last updated:
08 April 2019

Hold the date for this very popular annual seminar held in conjunction with KPMG LLP.  In a highly specialist and regulated sector it is important for societies and auditors to keep up to date with changing audit, accounting, risk and regulatory requirements. This event pro...

“CRR 2 lands, Basel 4 ready for take-off"

Event,
Contact:
christie sharp,
Last updated:
26 April 2019

The incoming flight is the “CRR 2” package, which following adoption in the EU, is expected to take effect (including in the UK) from this summer onwards. The outgoing flight is implementation of the “Basel 4” framework, the latest, and we hope last, stage in post-crisis reg...

Personal Savings Allowance

Factsheet,
Contact:
simon rex,
Last updated:
20 February 2019

The introduction of the new personal savings allowance means that from 6 April 2016 most people no longer pay tax on their savings income. The allowance is £1,000 for basic rate taxpayers and £500 for higher rate taxpayers. (There is no allowance for additional rate taxpayers...

Bank of England Bill

Industry response,
Contact:
jeremy palmer,
Last updated:
14 September 2015

The BSA welcomes the Government’s commitment to achieving strong, sustainable and balanced growth that is more evenly shared across the country and between industries. BSA members all have their main operational headquarters away from the City of London, and are a significant ...

Changes to the Pension Protection Levy for 2017/18

Industry response,
Contact:
andrea jeffries,
Last updated:
28 October 2016

We are pleased to learn that the PPF is considering introducing a scorecard specifically for the regulated financial services sector for the next triennium.  This is a step in the right direction for building societies, several of which have seen their annual levy bills rise c...

Draft amendments to FRS 102 - fair value hierarchy disclosures

Industry response,
Contact:
andrea jeffries,
Last updated:
22 January 2016

We support the proposals; they are a good example of proportionality in FRS 102. Click here to read our brief response.

Effective internal audit in the financial services sector

Industry response,
Contact:
andrea jeffries,
Last updated:
16 April 2013

Introduction The Building Societies Association represents mutual lenders and deposit takers in the UK including all 46 UK building societies. Mutual lenders and deposit takers have total assets of over £375 billion and, together with their subsidiaries, hold residentia...

Industry response to HMRC draft CTF to JISA draft guidance

Industry response,
Contact:
andrea jeffries,
Last updated:
20 February 2015

We welcome the flexibility that the ability to transfer from CTFs to JISAs brings. To align with standard practice, an industry working group has produced CTF to JISA transfer guidelines and model forms which are also included in this response. Click below to read ...

Interest rate risk in the banking book

Industry response,
Contact:
jeremy palmer,
Last updated:
14 September 2015

The Building Societies Association provides this brief response to the BCBS consultation. (Read the full response here .) The BSA’s members, the 44 UK building societies, all experience interest rate risk in the banking book (IRRBB,) though none is a “Basel bank” – i.e....

Our comments on Finance Bill 2015 – direct recovery of debts draft clauses

Industry response,
Contact:
andrea jeffries,
Last updated:
05 February 2015

Overview HMRC is currently able to take funds from a taxpayer’s bank account, but only with the permission of the courts.  HMRC proposed originally to remove such funds without the added costs of seeking court permission. Along with other stakeholders, we rejected s...

Our letter to the US Internal Revenue on FATCA

Industry response,
Contact:
andrea jeffries,
Last updated:
19 August 2011

We lend our support to the BBA's most recent arguments that FATCA is unworkable in its present iteration. We also point out how inappropriate it is for the mutual sector. Like the BBA, we believe a better way forward is to find a long-term global solution. Our letter to J...

Our response to EBA consultation on the minimum requirement for own funds and eligible liabilities,

Industry response,
Contact:
andrea jeffries,
Last updated:
26 February 2015

Introduction The Building Societies Association is pleased to respond briefly to the EBA’s consultation. The BSA represents all 44 UK building societies. Building societies have total assets of over £330 billion and, together with their subsidiaries, hold residential mo...

Our response to EBA discussion paper on draft standards on prudent valuation

Industry response,
Contact:
andrea jeffries,
Last updated:
07 January 2013

Background The Building Societies Association represents mutual lenders and deposit takers in the UK including all 47 UK building societies. Mutual lenders and deposit takers have total assets of over £375 billion and, together with their subsidiaries, hold residential ...

Our response to EC consultation on additional taxes for the financial sector

Industry response,
Contact:
andrea jeffries,
Last updated:
18 April 2011

The European Commission launched a consultation on a proposed EU taxation measure, which includes a financial transactions and/ or activities tax. We argue against such a tax explaining it could hit the mutual sector - already reeling from having to bail out failed banks - di...

Our response to FRED 51 - Draft amendments to FRS 102, Hedge Accounting

Industry response,
Contact:
andrea jeffries,
Last updated:
14 February 2014

Introduction The Building Societies Association represents mutual lenders and deposit takers in the UK including all 45 UK building societies. Building societies have total assets of nearly £330 billion and, together with their subsidiaries, hold residential mortgages o...