Jargon buster

This is a straightforward, non-technical guide to the often-confusing jargon used in financial services regulation. It aims to give a set of basic definitions, in plain language, for a wide range of acronyms, products, and terms as used in RegZone reports. It is designed to be suitable for non-lawyers, and comprehensible without too much prior knowledge or cross-referencing.

*entries marked with an asterisk refer to the UK only

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  • Basel Accord (2010-11) (BASEL III)
    An international agreement revising the Basel II standards for the minimum level of capital that banks need to hold. To be implemented by 2019.
  • Basel Committee on Banking Supervision (BCBS)
    A 'joint forum' of international banking supervisors (similar to IOSCO for securities commissions and IAIS for insurance supervisors).
  • British Bankers' Association (BBA)*
    Trade association for the UK banking sector.
  • British Insurance Brokers Association (BIBA)*
    Trade association representing general insurance intermediaries in the UK.
  • British Insurance Law Association (BILA)*
    Association dedicated to insurance law in the UK.
  • British Venture Capital Association (BVCA)*
    Trade association representing private equity and venture capital in the UK.
  • Building Societies Association (BSA)*
    Trade association representing mutual lenders and deposit-takers in the UK, including building societies.
  • Bulgarian National Bank (BNB)
    Regulates and supervises other banks' activities for the purpose of ensuring the stability of the banking system and protecting depositors' interests. The competent authority for the authorisation and supervision over the activities of the operators of payment systems, of the payment institutions, and of the electronic money institutions in Bulgaria. The BNB is responsible for maintaining the register of non-bank financial institutions (for e.g. companies, which grant credits with funds which have not been raised from the public ).
  • Business Information Pack (BIP)*
    Proposed part of a Recovery and Resolution Plan (RRP) containing information on financial reporting, group structures and management, business strategy, etc, for the benefit of the administrator.
  • Business Resolution Officer (BRO)*
    A board-level officer of an investment firm who is responsible for ensuring the firm can be wound down effectively.