BSA hopeful of update to 1986 Act

The Building Societies Association welcomed the upcoming 2nd reading of the Building Societies Act 1986 (Amendment) Bill which will take place on 19 January.  The Bill aims to put building societies on a level playing field with banks by giving them greater capacity to lend to UK customers and access emergency funding from BoE without impacting the funding limits to which building societies are subject.

The Bill is still at an early stage, but already the Committee and Report stages in the Commons are being timetabled before a third reading on 19 April.