The Building Societies (Liquid Asset) Regulations 1991

Part I LIQUID ASSETS

1.  Banknotes or coinage of any country or territory.

2.  Deposits with—

(a) the central bank of any member State of the European Community and of Canada, Japan, Sweden, Switzerland and the United States of America,

(b) the National Savings Bank,

(c) any credit institution authorised by the competent authorities of a member State of the European Community,

(d) any gilt-edged market maker, or

(e) any Stock Exchange money broker.

3.  Securities—

(1) (a) issued or guaranteed by the government of a state mentioned in paragraph 2(a),

(b) issued, guaranteed or, in the case of bills of exchange, accepted by credit institutions authorised by the competent authorities of any member State of the European Community,

(c) issued by international organisations the capital of which is subscribed in whole or part by any member State of the European Community,

(d) issued by any relevant authority, or

(2) in the form of commercial paper issued or guaranteed by

(a) companies of the types to which Directive 78/660/EEC(1) as amended by the Acts of Accession of Greece(2) and of Spain and Portugal(3) applies, or

(b) by public companies incorporated in Canada, Japan, Sweden, Switzerland and the United States of America,

provided that any guarantee is unconditional in respect of the payment of both principal of and interest on these securities.

4.  Mortgage backed securities.

5.  Certificates of Tax Deposit issued by the Treasury.

6.  National Savings Bonds.

7.  Loans to—

(a) the Department of Finance and Personnel (Northern Ireland), or

(b) any relevant authority.

8.  Stock lending rights against any Stock Exchange money broker.

(1)

O.J. L. 222 of 14.8.78.

(2)

O.J. L. 291 (Article 21, Annex 1, Part II(c), point 4) of 19.11.79.

(3)

O.J. L. 302 (Article 26, Annex I, Part II, Point 4) of 15.11.85.