Today (Friday 8th August 2025), the BSA responded to the PRA's CP11/25 'Discontinuing SS20/15:Supervising building societies' treasury and lending activities.' You can read the response here. 

The BSA strongly supports the retirement of the Building Societies sourcebook. We do not view this as deregulatory, but a welcome removal of outdated guidance that is excessively restrictive and anti-competitive towards the building societies sector. This supports the government’s agenda to promote mutuality and homeownership.

While the sourcebook is being retired, this is not the end of sound risk management. Building societies exist to help their members to save and buy their own homes as set out in the Building Societies Act, and that is not changing.

The BSA will look to support our members as they look ahead to the retirement of the sourcebook with the support of our associate members through webinars as well as topics on the retirement of the sourcebook being spotlighted at the BSA's annual Risk, Regulatory, Audit and Accounting Seminar on 14th October in Birmingham.