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
Two new series of executive research reports covering the credit and debit cards markets.
Each databank is available by region – Africa, Asia-Pacific, Eastern Europe, Latin America, North America, Middle East and Western Europe.
Published throughout July 2014
Risk is not a Number -
The impact of UK banking standards around the world
Thursday 21 August, 10am BST
Author, Commonsense Risk Management, published by Lafferty Group