Farewell, Banking Codes

written by Paul Ross on 30/10/2009

It’s an historic weekend. From Sunday (1 November 2009) retail bank deposit taking in the UK will become regulated by the Financial Services Authority (FSA). Motivated in part by its responsibilities under the Payment Services Regulations (PSRs) - to be implemented on the same day - the FSA is introducing a Banking Conduct of Business Sourcebook (BCOBS) to replace the Banking Code and Business Banking Code.