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Our response to EBA discussion paper on draft standards on prudent valuation

Industry response,
Contact:
andrea jeffries,
Last updated:
07 January 2013

Background The Building Societies Association represents mutual lenders and deposit takers in the UK including all 47 UK building societies. Mutual lenders and deposit takers have total assets of over £375 billion and, together with their subsidiaries, hold residential ...

Our response to guidance consultation on pension obligation risk and the ICAAP

Industry response,
Contact:
andrea jeffries,
Last updated:
21 March 2011

Summary The FSA wants to give further information on how it expects firms to evaluate their pension obligation risk and how it assesses this in firms’ ICAAP submissions. This information is additional to the guidance on Pillar 2 pension obligation risk calculations it rece...

Our response to "Regulatory fees and levies: rates proposals 2011/12", FSA CP 11/2 (chapter 10 only)

Industry response,
Contact:
andrea jeffries,
Last updated:
16 February 2011

Introduction The Building Societies Association represents mutual lenders and deposit takers in the UK including all 48 UK building societies. Mutual lenders and deposit takers have total assets of over £365 billion and, together with their subsidiaries, hold residential...

Our response to the Accounting Standards' Board's revised exposure drafts on the future of UK GAAP

Industry response,
Contact:
andrea jeffries,
Last updated:
24 May 2012

Overall, we believe the revised exposure drafts go some way to building an acceptable replacement for UK GAAP. The removal of the three-tier framework and with it, the use of public accountability to determine the application of EU-adopted IFRS, are especially welcome. B...

Our response to the supplementary FRC consultation paper: Guidance for Directors of Banks on Solvenc

Industry response,
Contact:
andrea jeffries,
Last updated:
21 January 2014

Introduction The Building Societies Association represents mutual lenders and deposit takers in the UK including all 45 UK building societies. Mutual lenders and deposit takers have total assets of over £330 billion and, together with their subsidiaries, hold residentia...

Proposed amendment to the regulatory valuation of available-for-sale debt securities, chapter 3 of t

Industry response,
Contact:
andrea jeffries,
Last updated:
02 November 2012

Introduction The Building Societies Association represents all 53 building societies in the United Kingdom. Building societies have total assets of £385 billion and, together with their subsidiaries, hold residential mortgages of almost £250 billion, more than 20% of th...

Written evidence to the PCBS panel on tax, audit and accounting

Industry response,
Contact:
andrea jeffries,
Last updated:
21 December 2012

We are pleased to respond to the panel on tax, audit and accounting set up by the Parliamentary Commission on Banking Standards. While we acknowledge many of the questions are focused solely on shareholder driven, plc banks, we also argue that the consequences of any r...

HMRC insights webinar

Event,
Contact:
christie sharp,
Last updated:
05 March 2019

This is the latest instalment in a series of BSA member-only webinars produced by PwC to discuss issues facing the building society sector. Tax is an ever more complex and broad subject and one that continues to evolve. It is also an area that we are increasingly seeing mem...

Seminar for members of risk and audit committees

Event,
Contact:
christie sharp,
Last updated:
18 February 2019

This event, run in conjunction with Deloitte, will provide relevant updates for members of risk committees and audit committees. Starting with a horizon-scan of current risks and challenges, Deloitte experts will cover key developments and hot topics across conduct and prud...

IFRS 9: changes to reporting requirements

Industry response,
Contact:
andrea jeffries,
Last updated:
13 March 2017

We find no case for mandatory replacement of FSA 015 at this early stage.   Time is needed for IFRS 9 to bed in before any change is made to reporting.  What may look important now may not be once the full impact of the new standard has been felt. 2021 could be a more appropr...

Our response to consultation on the third PPF levy triennium – 2018/19 to 2020/21

Industry response,
Contact:
andrea jeffries,
Last updated:
26 May 2017

An industry scorecard for the regulated financial services sector is a good start, particularly the decision to drop the inequitable mortgage age variable.  We do, however, have some concerns about the industry scorecard’s applicability to a typical building society.  Click ...

Our response to FRED 67

Industry response,
Contact:
andrea jeffries,
Last updated:
30 June 2017

We support any effort to improve, clarify and simplify accounting regulation.  Most of the proposed incremental amendments in this exposure draft do just that.  We also welcome the recent decision not to incorporate recent and forthcoming changes in international financial re...