- Sterling bank deposits: the gross figures for societies' sterling deposits with UK banks are adjusted to include the effects of net transit items. Transit items include instruments such as cheques which have been drawn but not debited or credited at month-end. Since the adjustment is placed on the assets side, this column comprises gross sterling deposits plus asset transit items less liability transit items. Asset transits include cheques drawn in favour of the society which have not yet been presented to the bank, or which have been presented but not yet credited to the society's account; liability transits include cheques drawn on the society's account but not yet debited from the society's bank account.
- Other public sector debt: this includes all claims on the public sector except holdings of UK government bonds, which are shown separately: hence it includes holdings of local authority bonds, investments in UK public corporations and similar assets.
Loans and Investments
The subcategories here have been motivated by the classifications within the 1986 and 1997 Building Societies' Acts. The definitions introduced in October 1998, to bring them into line with the 1997 Act, are as follows (covering periods up to and including December 2007) :
- Loans fully secured on residential property: these include secured loans to individuals only;
- Other loans fully secured on land: these include loans secured on residential property to counterparties other than individuals;
- Other loans to individuals: this is primarily unsecured lending to individuals (including credit card balances outstanding);
- Other loans and investments: included in this category are holdings of equity shares and long-term loans to connected undertakings.
Prior to 1998, loans and investments were broken down into three 'classes' as follows:
- Class 1 assets were advances to individuals, secured on land, and for the residential use of the borrower. Further, a class 1 asset had to be the first charge on a property.
- Class 2 assets were advances secured on land which did not fulfil all the criteria to be a Class 1 asset. Thus they included loans to individuals secured other than by first charge, secured lending to individuals for non-residential purposes and secured lending to companies, unincorporated businesses and housing associations.
- Class 3 assets included unsecured loans, ownership of land and property for residential development, and investments in subsidiaries.
This means that there are some breaks in the series in October 1998.
These are assets not covered elsewhere. Examples are fixed assets and adjustments made for prudential reporting purposes.