On 4 April 2016, the PRA published a consultation paper on proposed revisions to its supervisory statement on building societies’ treasury and lending activities (SS20/15).  The consultation paper should be read in conjunction with the PRA Rulebook and sets out the PRA’s approach to supervision of building societies’ and treasury lending activities, along with compliance with the Building Societies Act 1986.

The most significant changes relate to the expansion of areas of activities that have changed since the original publication of the Building Societies Sourcebook and the changes to supervisory approaches, intended to clarify the PRA’s expectations on how building societies should consider the implications of proposed changes to their business models.

The PRA welcomes views on the draft supervisory statement by 4 July 2016.