The FSA has said it would contest the BBA's call for a judicial review.
But the BBA told the BBC the new rules could "open up a whole can of worms".
In fact, several months ago, when the BBA announced it was speeding up its probe, LIBOR jumped.
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The BBA said that it is willing to give up its responsibility in setting the daily Libor rate.
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The new chief executive of the British Bankers' Association (BBA) has pledged to restore trust in UK banking.
Mr. Bradford holds a BBA in Finance from the University of Georgia and an MBA from Emory University.
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The BBA said this was an indication that sales were returning to the levels of a year ago.
Mr Browne said the BBA, the leading trade body for the bank sector, would work to regain public trust.
The British Bankers' Association (BBA), which represents the UK's High Street banks, said that things were already getting better.
And they note that Vice President Biden voted for a BBA in 1997.
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Another bargain: the U.K.-based BBA Group, a conglomerate that makes hydraulic equipment, services aircraft and manufactures nonwoven textiles for things like diapers.
"Banks will be contacting those companies affected shortly, prioritising those with the greatest need, " said BBA chief executive Anthony Browne.
However, the banking duo did join the BBA in calling for a deadline on payment protection insurance (PPI) compensation claims.
In a statement on September 25th the BBA made clear that it is happy to walk away from the mess.
The new regulation includes criminal prosecution, removes the rate setting responsibility from the banks, and removes the BBA as administrator.
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"The risk here is creating uncertainty, " Anthony Browne, the chief executive of the British Bankers' Association (BBA), told the BBC.
In response, the British Bankers' Association (BBA) told BBC News that banks took the providing accounts for low income consumers seriously.
Nor, if you look at the guidelines for setting Libor on the British Bankers' Association (BBA) website, are they required to.
Passing a BBA through the House next week may make for great political theatre but it is not on the margin, i.e.
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There is no firm cut-off date, says the British Bankers' Association (BBA), but most banks will accept legacy currencies until early February.
However, the British Bankers Association (BBA) has said pay rules are already "more stringent" in the UK than in any other country.
The UK's banks, represented by the BBA, challenged the FSA's new requirements.
Each day banks that submit their rates to the BBA do so on nothing short of the honor code, and without regulation.
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In doing so, the bank again parts company with its peers, represented by the British Bankers' Association (BBA), which has opposed the electrification.
The BBA has suggested that the deadline for new claims should be April 2014, with its publicity campaign starting in April this year.
The British Bankers' Association (BBA), which represents all of the UK's banks, says that where customers have been treated unfairly, they will be compensated.
Before taking up his BBA role, Mr Browne was head of government relations for investment bank Morgan Stanley's Europe, Middle East and Africa division.
Nina has an MBA from Wharton School of Business, an MA focused in Creative Writing from Dartmouth, and a BBA from University of Texas.
The BBA said small and medium-sized businesses were sitting on large cash reserves and choosing to pay down their debts, rather than borrow more.
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