Update on 23 January 2017
SS20/15 was updated to provide additional clarification and corrections following its publication on 1 December 2016 in Policy Statement 34/16 ‘Supervising building societies’ treasury and lending activities’. See Appendix 7 for full details.
Update on 1 December 2016
SS20/15 was updated following publication of Policy Statement 34/16 ‘Supervising building societies’ treasury and lending activities’. See Appendix 7 for full details.
This supervisory statement (SS) sets out the Prudential Regulation Authority’s (PRA’s) expectations in respect of building societies’ compliance with the requirements of the Building Societies Act 1986 (the 1986 Act), the Financial Services and Markets Act 2000 (FSMA), the PRA Rulebook and SS24/15. This SS is applicable to all building societies.
The purpose of this SS is to set out the PRA’s approach to its supervision of building societies’ lending and treasury activities. The SS aims to build on the principle that the risk appetites of building societies should be properly aligned to their risk capacity, in order to promote the safety and soundness of building societies as deposit-taking institutions.
The guidance in the SS takes effect from 1 January 2017.
Published on 2 April 2015
Update 4 April 2016: The PRA published CP12/16 ‘Supervising building societies’ treasury and lending activities’ which includes proposals to update Supervisory Statement 20/15. The consultation closed on Monday 4 July 2016.
This supervisory statement sets out the approach and expectations of the Prudential Regulation Authority (PRA) to its supervision of building societies’ treasury and lending activities. This statement complements the requirements of the Building Societies Act 1986. This supervisory statement is aimed at all building societies.