DEFINITION of 'British Bankers Association - BBA'

The leading trade association that represents the views of those involved in the banking and financial services industry within the U.K.

BREAKING DOWN 'British Bankers Association - BBA'

Among other things, the BBA is responsible for continually improving the Banking Code, Small Business Code, accounting principles and European regulations regarding banking practices. An additional responsibility of the BBA is to set benchmark rates such as the LIBOR.

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RELATED FAQS
  1. How did LIBOR come into use?

    Learn about the significance of the London Interbank Offered Rate, or LIBOR, and the history of how the daily LIBOR became ... Read Answer >>
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    Discover what happened with the LIBOR scandal, uncovered in 2012, why it was important, and proposals to prevent it from ... Read Answer >>
  3. How can LIBOR be used as an economic indicator?

    Learn how the LIBOR is used, how it is calculated and how it can be used with Treasury bill rates to gauge the health of ... Read Answer >>
  4. Where on the internet can I find LIBOR rate information?

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  5. How does LIBOR compare to the Federal Reserve rate as an accurate indicator?

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  6. Who determines the LIBOR rate?

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