Commentary

43 Financial risk management

BUILDING SOCIETIES vol 6(1)
| Commentary

43 Financial risk management

| Commentary

43 Financial risk management1

A building society must:

  1. 43.1

        have an adequate system for managing and containing financial risks to the net worth of its business, and risks to its net income, whether arising from fluctuations in interest or exchange rates or from other factors2;

  2. 43.2

        maintain and submit to the Financial Services Authority (FSA), a board-approved policy statement on financial risk management3; and

  3. 43.3

        on making any significant change to its policy statement on financial risk management provide the FSA with a copy of the amended policy statement as soon as possible after it has been adopted4.

At least 50%

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