Supplementary memorandum by the British
Bankers' Association (BBA)
BASIC BANK
ACCOUNTS[64]*
I refer to your letter to John Letizia regarding
the breakdown of the aggregate number of basic bank accounts that
the BBA publishes on a quarterly basis.
This information is provided to us on a confidential
basis. Our members take seriously the shared goal of halving the
number of adults in households without bank account and demonstrating
a significant progress within two years. I must stress this is
an industry target and individual targets have never been set.
Our members' financial inclusion strategies
extend beyond the provision of basic bank accounts and incorporate
various initiatives including support to credit unions and financial
literacy programmes.
Against this background, we have discussed with
members your request to breakdown the basic bank account stocks
by bank. Members understand fully your desire to consider the
data. They have, however, decided that the BBA should not disclose
the detail as our members wish to provide the number, on an individual
basis, direct to the Treasury Select Committee in the context
of their overall Financial Inclusion Strategy. This I believe
should now have been completed through their written submissions
to the Financial Inclusion inquiry.
February 2006
64 *Ev 2 Back
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