The Building Societies Association is the trade association for the UK's building societies.
The Building Societies Association is a trade association, representing mutual lenders and deposit takers in the UK including all 45 UK building societies. Mutual lenders and deposit takers have total assets of over £330 billion and, together with their subsidiaries, hold residential mortgages of over £230 billion, 18% of the total outstanding in the UK. They hold over £230 billion of retail deposits, accounting for 19% of all such deposits in the UK. Mutual deposit takers account for over 30% of cash ISA balances. They employ approximately 39,000 full and part-time staff and operate through approximately 1,600 branches.
The BSA represents its members to those outside the sector on a number of issues such as building society legislation, the regulation of the sector, developments in the savings market, financial inclusion and the promotion of building societies' mutual status.
The BSA also provides information to its members on these, and a wide variety of other subjects and acts as a central point for building societies to communicate with each other.
Speaking at the BSA annual conference in Manchester today, Robin Fieth, Chief Executive of the BSA, called on the building society sector, regulators and policy-makers to think carefully about the future shape of the financial services sector.
BSA welcomes the Banking Standards Review consultation paper from Sir Richard Lambert and will be responding.
Building societies and other mutual lenders continued to extend lending to UK homebuyers with net lending of £1.1 billion in November, and £12.1 billion in the first eleven months of 2013.
The Building Societies Association comments on the autumn statement.
Figures for the Funding for Lending Scheme since it started in 2012.