Role
The BBA promotes a legislative and regulatory system for banking and financial services - in the UK, Europe and internationally - which takes account of the needs and concerns of 253 members, including 24 associate and 48 professional members.
The BBA engages with the UK government and politicians, devolved administrations and European institutions as well as the media and other key stakeholders to ensure the industry’s voice is heard and to highlight the strength and importance of UK banking.
In 2010, the BBA measured UK banks' aggregate balance sheet at £4.1 trillion. According to a PwC report commissioned by the City of London, UK banks contributed £63 billion in tax to the UK economy in 2010/11. The Bank of England argued that this revenue is offset by the cost of an 'implicit' taxpayer subsidy valued at up to £220bn through 2009 and 2010. The UK bank bailouts following the 2007–2012 global financial crisis have been estimated to have cost as much as £850 billion, dwarfing any tax revenue received from the businesses involved.
Read more about this topic: British Bankers' Association
Famous quotes containing the word role:
“To win by strategy is no less the role of a general than to win by arms.”
—Julius Caesar [Gaius Julius Caesar] (100–44 B.C.)
“The role of the writer is not simply to arrange Being according to his own lights; he must also serve as a medium to Being and remain open to its often unfathomable dictates. This is the only way the work can transcend its creator and radiate its meaning further than the author himself can see or perceive.”
—Václav Havel (b. 1936)
“Scholars who become politicians are usually assigned the comic role of having to be the good conscience of state policy.”
—Friedrich Nietzsche (1844–1900)