PRA: CP11/25: Discontinuing SS20/15 – supervising building societies’ treasury and lending activities

The CP sets out PRA’s proposals for the deletion of SS20/15 on the grounds that: (i) expectations set out in SS20/15 are no longer consistent with the regulator’s broader policy approach; (ii) the SS presents a potential level-playing field issue as it imposes prescriptive expectations on building societies that banks are not subject to, and (iii) risk management in the building societies sector has become more sophisticated since the SS was introduced, and PRA has a number of requirements and tools against which it can supervise firms’ risk management.  Responses are required by 8 August 2025.