The Business Banking Resolution Service (BBRS) has published the first part of its Post-Implementation Review (PIR). The aim of this review was to assess how well the BBRS has delivered the recommendations contained in the UK Finance response to the Walker Report.
The independent, external panel which conducted the review conducted in-depth interviews with representatives from within the BBRS, as well as more broadly from the SME and banking community.
Key findings include:
- the BBRS is independent in its leadership, governance and adjudication process;
- nothing indicates that determinations of eligible complaints would be, or have been, anything other than fair and reasonable;
- the BBRS largely reflects the Implementation Steering Group Terms of Reference (ISG ToR);
- the forecast by the ISG overestimated the numbers of eligible complaints; and
- the BBRS does not have the power to change the scheme rules within which it operates.
The PIR notes that the second part of the review presents an opportunity to consider the operational effectiveness of the organisation, as well as to identify areas of both success and potential improvement.