Treasury has responded to its package of changes designed to:  

  •  let building societies borrow more from the wholesale markets;  
  • have members’ shares rank equally with liabilities to creditors if a building society goes insolvent; and  
  • make it easier for a mutual society to transfer its business to the subsidiary of another mutual society.  

Following responses and given the economic climate, it will review the borrowing proposals in another two years but will action its other plans.