Building Societies Association
Feature
Combined “mutual” statistics replace building society data
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Contact: Andrew Gall Date: 25 Feb 2010 |
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When the Bank of England publishes its Monetary and Financial Statistics (Bankstats) for January 2010 on 1 March, statistics for the building society sector will no longer be split out to the extent that they have been previously.
This change to the official statistics was necessary following the merger of Britannia and The Co-operative Financial Services in 2009, after which Britannia was no longer a building society. As a result, one society accounted for a much larger proportion of the remaining building society sector, and there was the potential that the confidentiality of its data could be compromised in some series. Therefore, the ongoing publication of these series was in some doubt.
There are important differences in the business activities of shareholder owned banks and banks that are owned by their customers. Therefore, to allow this distinction to continue to be drawn, the BSA will be publishing data that combines UK building societies and mutually owned banks, referred to as the “mutual” sector. This will start on 1 March, in relation to data for the month of January 2010, and includes the net receipts series collated by the BSA. Previous data series will not be restated, as this would disclose individual institution’s data. Unfortunately this means there will be a break in these series of data.
Mutuals data published on the BSA website will cover the following areas:
Mortgage lending
Gross lending by mutuals
Net lending by mutuals
Value and number of loans approved by mutuals
Breakdown of mutuals’ approvals by type
Mortgage repayments at mutuals
Breakdown of repayments at mutuals by type
Saving and funding
Net receipts at mutuals
Change in retail balances at mutuals
Retail balances outstanding at mutuals
Change in ISA balances at mutuals
ISA balances outstanding at mutuals
Change in wholesale funding at mutuals
Change in deposits from the public sector with mutuals
Balances outstanding from the public sector with mutuals
Other information
Total assets of mutuals
Further detail is given in an article in the January edition of Monetary and Financial Statistics from the Bank -
