Explanatory note

These Regulations add a description of assets to Part I of the Schedule to the Building Societies (Liquid Asset) Regulations 1987 namely deposits with any society; remove the restriction in those Regulations which restrict a liquid asset to an asset issued by a society with total assets in its latest balance sheet of not less than £1,000 million; and, remove the restriction on a building society’s holding of certificates of deposit or floating rate notes issued by any building society so that they shall not exceed, in aggregate 2.5 per cent of the amount of the total assets of the holding society in its latest balance sheet.