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Our response to the liquidity proposals in FSA quarterly consultation 11/ 18 (no 30)

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

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 residentia...

Response to guidance consultation: senior asset and liability management committee practices, FSA GC

Industry response,
Contact:
andrea jeffries,
Last updated:
13 January 2011

We welcome the opportunity to comment on this draft “Dear CEO” letter and broadly support the four key themes identified from the FSA review. The adequacy of firms’ asset and liability management practices is of course of legitimate interest of the regulator, even if some of ...

Response to quarterly consultation paper no 27, FSA CP 11/1 (chapter 3 only)

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

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 residentia...

Pillar 2 liquidity: Updates to the framework

Industry response,
Contact:
andrea jeffries,
Last updated:
18 April 2019

We are pleased to offer comments from our members and associates on this consultation paper.    We understand and fully support the Prudential Regulation Authority’s need to monitor banks’ and building societies’ liquidity.   But we remain concerned by the superequivalence an...

Pillar 2 Liquidity - second consultation

Industry response,
Contact:
jeremy palmer,
Last updated:
09 October 2017

The BSA supports robust and effective liquidity requirements, whether under Pillar 1 or Pillar 2, to ensure the safety and soundness of our members, and thereby the protection of their customers. Read the full response .

Client money and unbreakable deposits

Industry response,
Contact:
andrea jeffries,
Last updated:
01 November 2017

To be of interest and benefit to the maximum number of building societies (and probably banks), we believe firms should be allowed to deposit client money in unbreakable deposits of up to 95 days.   To read the full response, please click here .

Liquidity reporting: FSA 047 and FSA 048

Industry response,
Contact:
andrea jeffries,
Last updated:
09 November 2018

The proposed six-month extension of existing returns FSA 047 and FSA 048 is driven by problems with PRA 110.  We therefore urge the PRA to delay implementation of this new return.  A delay will give the regulator time to consider if data provided by other liquidity returns, s...

PRA's approach to supervising liquidity and funding risks

Industry response,
Contact:
andrea jeffries,
Last updated:
15 November 2019

We are pleased to offer brief supportive comments on the PRA’s consultation paper on its approach to supervising liquidity and funding risks . The PRA is proposing that there should be no order in which firms use the BoE's liquidity facilities, including the discount window...

Asset Encumbrance

Industry response,
Contact:
jeremy palmer,
Last updated:
23 January 2020

The BSA’s 43 member building societies are all predominantly funded by the retail savings of individuals, as required by the Building Societies Act. This is modestly supplemented, particularly at larger societies, by prudent use of wholesale funding from appropriate markets. ...