PRA has launched a consultation on changes to its supervisory statement on building societies’ treasury and lending activities. It sets out its expectations in its supervision of building societies’ lending and treasury applications and compliance with the Building Societies Act 1986 and PRA’s Rulebook. It has reorganised most of the existing content under the following six headings: introduction; overview of PRA expectations; lending; financial risk management; changes to supervisory approaches; and business model diversification. The consultation closes on 4 July. (Source: PRA consults on approach to supervision of building societies)