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Management expenses levy limit for the FSCS, 2017/ 18

Industry response,
Contact:
andrea jeffries,
Last updated:
13 February 2017

We are pleased to be invited to comment on these proposals.  While we welcome the 22% drop in specific budgeted costs for deposits, we are concerned by the overall increase in the proposed management expenses budget for 2017/18 of £1.847 million (2.74%) over last year.  This,...

Management expenses levy limit for the FSCS - proposals for 2020/ 2021

Industry response,
Contact:
andrea jeffries,
Last updated:
14 February 2020

We are pleased to be able to offer comment on the proposed MELL for 2020/ 21.  Our comments are brief and high level and reflect our concerns about the rising costs of operating the FSCS. Click here to read the full response.  

Sector info & performance

Page,
Contact:
simon rex,
Last updated:
16 July 2014


Latest BSA statistics

Page,
Contact:
simon rex,
Last updated:
25 November 2020

Mortgage lending Mortgage lending in the third quarter of 2020 (July to September 2020): Building societies approved 111,791  mortgage loans, a 28% share of the 397,402 mortgage loans approved across the market in the period. Gross mortgage lending by building societie...

Strong Q4 boosts building society 2018 performance

Press release,
Contact:
hilary mcvitty,
Last updated:
11 February 2019

Lending and savings figures published today show that building societies lent £68.9 billion in mortgage finance in 2018, up 7% on 2017.  Over the same period savings balances increased by £14.3 billion, well ahead of the £8.5 billion increase for the previous year. Building...

Guest blog: The future of cash - the vinyl of the banking industry

Contact:
wayne duke,
Last updated:
06 October 2020

Ahead of his appearance at the BSA's Digital Mutual  on the 3rd and 4th November, Wayne Duke, principal architect at Sopra Banking Software, discusses the similarities between banking and the music industry. Could a push for digital services in banking compliment rather than...

Our response to a further technical consultation on the apprenticeship levy

Industry response,
Contact:
andrea jeffries,
Last updated:
02 February 2017

We have no comment on the actual draft regulations for the apprenticeship levy but have serious concerns about one important related administrative aspect of the levy: the reclaim mechanism for employers based outside England.  How employers in the devolved nations are able t...

BSA response to FCA CP17/11 Implementation of the revised Payment Services Directive (PSD2): draft A

Industry response,
Contact:
andrew hopkins,
Last updated:
08 June 2017

The BSA response to FCA CP17/11 Implementation of the revised Payment Services Directive (PSD2): draft Approach Document and draft Handbook changes is available here . Summary of our response: There is a need for further guidance on what elements of the PSR 2017 apply t...

Client money and unbreakable deposits

Industry response,
Contact:
andrea jeffries,
Last updated:
01 November 2017

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.   To read the full response, please click here .

Price discrimination in the cash savings market

Industry response,
Contact:
brian morris,
Last updated:
25 October 2018

The BSA supports the FCA’s aims of promoting competition and improving consumer outcomes in the cash savings market. From our members’ perspective, the cash savings market is highly competitive and building societies compete by providing high standards of customer service and...

'Loyalty penalty' super-complaint

Industry response,
Contact:
andrew gall,
Last updated:
14 October 2018

The Competition and Markets Authority (the CMA) posed four questions surrounding “loyalty penalties” in mobile phone contracts, broadband, home insurance, mortgages and savings, following a super-complaint by Citizens Advice (the CA) on 28 September 2018. We restrict our com...

Child Trust Funds - minor changes

Industry response,
Contact:
andrea jeffries,
Last updated:
11 February 2019

We propose that by removing the requirement to provide the child’s address on the CTF annual statement, the safeguarding risk that could arise from it would be eliminated.  Implementing system changes and process controls mitigates the risk but does not eliminate it completel...

Our response to HMRC consultation on maturing child trust funds - draft regulations

Industry response,
Contact:
andrea jeffries,
Last updated:
09 August 2019

Child Trust Funds will begin maturing in September 2020 when the first children reach 18. Without legislative change, the savings in maturing CTFs will lose their tax protection post maturity.   We support HMRC's moves to remedy this situation and to allow savings transferred...

FOS Budget 2020

Industry response,
Contact:
elaine morton,
Last updated:
18 February 2020

On 30 January 2020, the BSA submitted its initial response to the Financial Ombudsman Service (FOS) consultation “Our 2020/21 plans, budget and future strategy” (the “CP”). The BSA reserved its right to make further comments and seek further information, pending receipt of ...

Savings statistics

Page,
Contact:
simon rex,
Last updated:
29 March 2021