25 June 2009

BBA: Banks stress need for international co-operation on reform

In its response to the Turner review the BBA welcomed the FSA’s broad approach but expressed concern that the impact of its suggestions needed to be considered across the piece and not in isolation.

In its response to the Turner review, which set out proposals to tackle the global banking crisis, the BBA welcomed the FSA’s broad approach but expressed concern that the impact of its suggestions needed to be considered across the piece and not in isolation. The BBA also wanted to ensure British banking was not prevented from recovering, growing and playing its full part in the UK’s economic recovery by being subject to mismatched UK and international regulation.