| Commentary

44 Liquidity

| Commentary

44 Liquidity1

A building society must:

  1. 44.1

        maintain adequate liquid resources2, including prudential liquidity3, appropriate to the scale and nature of its business to enable it to meet its obligations as they fall due4;

  2. 44.2

        maintain, and submit to the Financial Services Authority (FSA), a board-approved policy statement on liquidity5;

  3. 44.3

        on making any significant change to its policy statement on liquidity provide the FSA with a copy of the amended policy statement as soon as possible after it has been adopted6.

The amount of liquid assets held by a building society should be expressed as a percentage of its share

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