{
  "url": "https://openlegislation.uk/building-societies-accounts-and-related-provisions-regulations-1992/schedule-9/paragraph-4",
  "json_url": "https://openlegislation.uk/building-societies-accounts-and-related-provisions-regulations-1992/schedule-9/paragraph-4.json",
  "legislation": "uksi/1992/359",
  "legislation_title": "The Building Societies (Accounts and Related Provisions) Regulations 1992",
  "legislation_url": "https://openlegislation.uk/building-societies-accounts-and-related-provisions-regulations-1992",
  "path": "schedule/9/paragraph/4",
  "kind": "paragraph",
  "number": "4",
  "heading": "Average rates",
  "text": "(1) Subject to the following provisions of this paragraph, the annual business statement of a society shall state the following particulars in respect of the society, in relation to the financial year with which it deals, with regard to each of the major categories of interest bearing assets and liabilities:\n(a) the average amount outstanding during the financial year;\n(b) the interest earned on such assets;\n(c) the interest paid on such liabilities;\n(d) the average yield on such assets; and\n(e) the average rate paid on such liabilities.\n(2) Where the society is a group accounts society, the particulars required to be stated by subparagraph (1) in respect of the society shall be stated in respect of the society and its subsidiary undertakings, but this subparagraph shall not be taken to prohibit the stating in addition by a society of those particulars in relation to the society alone.\n(3) The annual business statement shall include an explanation of what is represented by each of the particulars referred to in subparagraph (1) and, where subparagraph (2) applies, a statement of the basis on which particulars are stated by virtue of that subparagraph.\n(4) In this paragraph—\n(a) the major categories of interest bearing assets are—\n(i) liquid assets, and\n(ii) secured advances;\n(b) the major categories of interest bearing liabilities are—\n(i) retail funds and deposits, and\n(ii) non-retail funds and deposits;\n(c) “the average amount outstanding during the financial year”, in respect of each major category of interest bearing assets and liabilities, shall be calculated on a reasonable basis by reference to the amounts attributable to that balance sheet category throughout that year, and for this purpose the amount attributable to secured advances shall be the aggregate of the amounts in Asset items 2, 3, 4(a) and 4(c) of the balance sheet in Part I, or, in the case when group accounts are used, Part II of Schedule 2;\n(d) “the interest earned”, in respect of each major category of interest bearing assets, means the amount (or aggregate amount) included within interest receivable in the income and expenditure account which is attributable to that category as calculated in accordance with paragraph (c);\n(e) “the interest paid”, in respect of each major category of interest bearing liabilities, means the amount included within interest payable in the income and expenditure account which is attributable to that category as calculated in accordance with paragraph (c);\n(f) “the average yield”, in respect of each major category of interest bearing assets, means the amount (or aggregate amount) in paragraph (d) attributable to that category as a percentage of the amount in paragraph (c) attributable to that category; and\n(g) “the average rate paid”, in respect of each major category of interest bearing liabilities, means the amount in paragraph (e) attributable to that category as a percentage of the amount in paragraph (c) attributable to that category.\n(5) With regard to subparagraph (4)(c), the basis of calculation used in each case shall be stated in the annual business statement.\n(6) In subparagraph (4)(c) “reasonable” shall be defined in accordance with section 74(5) of the Act.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [
    {
      "type": "revoked",
      "affecting": "uksi/1994/2459",
      "affecting_title": "The Building Societies (Accounts and Related Provisions) (Amendment) Regulations 1994"
    },
    {
      "type": "added",
      "affecting": "uksi/1994/2459",
      "affecting_title": "The Building Societies (Accounts and Related Provisions) (Amendment) Regulations 1994"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1992/359/schedule/9/paragraph/4",
    "retrieved_at": "2026-10-29T14:28:48.730066+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}