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Risk is not a Number The impact of UK banking standards around the world
21 Aug 2014 10:00

Presented by Bruce Packard, Author of Commonsense Risk Management
published by Lafferty Group

According to the Bank of England, major UK banks incurred £10 billion of conduct costs last year, which brought cumulative conduct-related provisions since 2011 to around £28 billion. Of this, around £20 billion related to mis-sold payment protection insurance. That was more than twice the amount of total UK mortgage write-offs since 2008*.  Not only is this an enormous financial cost, but it has also been politically embarrassing and a public relations disaster for an industry still recovering from the after effects of 2008.  Later this year the Banking Standards Review Council (BSRC) will be launched, designed to improve standards of behaviour in the banking industry.  Although the primary aim is to improve behaviour among UK banks, the new banking standards are likely to have global implications.
 
*Financial Stability Report, June 2014


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Risk is not a Number -
The impact of UK banking standards around the world


Thursday 21 August, 10am BST



Presented by:

Bruce Packard,

Author, Commonsense Risk Management, published by Lafferty Group

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IARB co-chairmen Michael Lafferty and Dick Harryvan discuss the latest rate rigging scandal and ethics in banking on the BBC World Service's World Business Report.
http://www.bbc.co.uk/i/p01m9IARB co-chairmen Michael Lafferty and Dick Harryvan discuss the latest rate rigging scandal and ethics in banking on the BBC World Service's World Business Report.