BBA has written further to US regulators on the plans to implement the US Foreign Account Tax Compliance Act (FATCA). BBA welcomes the statement by the US that it will work with overseas governments to address the hurdles to implementation. However, it stresses many aspects of the proposals are impractical and suggests a multilateral solution. (Source: Submission to the US Treasury and IRS on the US Foreign Account Tax Compliance Act (FATCA) and Submission of the British Bankers' Association on Notice 2011-34)