BBA, LIBA and ISDA have responded to FSA's consultation on liquidity reporting. Their members support a proportionate and appropriate reporting framework and think this should focus mainly on systemically significant firms. They think there is a risk the proposed regime might discourage less systemically important firms and foreign branches from doing business in the UK. They argue for a broader definition of "simple firm" and urge FSA to look favourably on waiver application from overseas firms funded by overseas parents and not main players in the UK retail deposit markets. The associations are also worried the implementation timetable is not practical, because of lack of clarity on many aspects of the regime. Finally, they say FSA should not go it alone without international agreement on equivalence of liquidity regimes.