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Introduction 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 residentia...
We welcome the slight reduction in the MELL budget but argue for more detail on "strategic change" expenditure. Click here for the response.
Comment We welcome the overall 7.4% reduction in the budgeted FSCS management expenses but continue to be frustrated by the lack of detail about this expenditure, and therefore lack of opportunity to comment on it. An almost permanent feature of MELL budgets is th...
Our response to FCA fees paper, “FCA regulated fees and levies: rates proposals 2013/14, CP 13/1 Background The Building Societies Association represents mutual lenders and deposit takers in the UK including all 46 UK building societies. Mutual lenders and deposit t...
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...
We make a short response on points of interest to BSA members. We argue that the proposed annual income measures for fee blocks A.12, A.13 and A.14 from 2013/14 needs further work; it certainly is not as transparent or straightforward as the current metric, numbers of appr...
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 residential m...
We make the point that without actual numbers it is hard to comment on the proposed policies. We also suggest that mutuals should have their own fee block and that the funding of the Money Advice Service should be reviewed. Click below to read the response in full: Our r...
Our response to the FSA's fees consultation This consultation includes a summary business plan for the FSA as well as providing feedback on the strategic review proposals in CP 09/26 on the fees and levy rates it intends to raise in 2010/11. FSA's fees CP 10/05 C...
Our response to the PRA consultation paper, “Prudential Regulation Authority regulated fees and levies: rates proposals 2013/14”, CP 3/13 Background The Building Societies Association represents mutual lenders and deposit takers in the UK including all 46 UK building...
Introduction The Building Societies Association (BSA) represents mutual lenders and deposit takers in the UK including all 45 UK building societies. Mutual lenders and deposit takers have total assets of nearly £380 billion and, together with their subsidiaries, hold re...
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,...
Introduction We are pleased to submit a brief response to the PRA’s consultation on Regulated fees and levies: rates proposals 2017/18 (CP 4/ 17). We are concerned by the implicit assumption that regulatory fees will always rise (in real terms) – and that building socie...
Implicit in this year’s fees consultation, and in previous years’, is the view that the cost of regulation, and by implication fees, will never fall. Indeed the PRA's business plan 2019/2020 says: “The PRA’s budget is set in the context of the Bank’s overall framework of fi...
We are pleased to offer high level comments on aspects of this FCA consultation. Appropriate and proportionate regulation is key to the long term future of the UK financial services sector. That the costs are paid for by the firms which benefit from this regulation is no...