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Home > Prudential Regulation Authority > The prudential regulation of credit unions – SS2/16 UPDATE
 

The prudential regulation of credit unions – SS2/16 UPDATE

23 February 2017

Update 23 February 2017: This supervisory statement was updated following publication of PS4/17 ‘Responses to CP36/16 and correction to PS2/16 PIN rules’.   See the appendix for full details.

This supervisory statement sets out the Prudential Regulation Authority’s (PRA’s) expectations of credit unions. It applies to all UK credit unions as defined in the Credit Union Rulebook Part.

The statement seeks to advance the PRA’s statutory objective of promoting the safety and soundness of the firms it regulates by setting out the PRA’s expectations of how credit unions should comply with core elements of the regulatory framework contained in the Credit Union Rulebook Part.

Areas covered include:

  • capital;
  • liquidity;
  • additional activities;
  • maximum deposit levels;
  • fixed-rate shares and deposits;
  • lending;
  • investments; and
  • governance and organisation.

Supervisory Statement 

The prudential regulation of credit unions – SS2/16

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