Financials

Pillar 3 disclosures
In common with all other banks and building societies in the UK, we are subject to the provisions of the Capital Requirements Directive (CRD). The Directive provides rules that determine how much capital we are required to maintain to protect the interests of our customers.
The rules are divided into three pillars, the third of which contains the disclosure requirements of the CRD. We have to prepare and publish a document providing details of the principal business risks we face, the approach to their management and a breakdown of certain elements of the capital allocation as required by the CRD.

Money Markets Code
The Bank of England has published the UK Money Markets Code, establishing best practice guidelines for all participants in the UK money markets. We acknowledge the Code, and are committed to adhering to the principles set out therein. This has been confirmed in the Statement of Commitment.

Internal Audit Charter
The Internal Audit Charter sets out the scope of internal audit activity within the Society and the authority and responsibility of the Internal Auditors.  It underlines the importance of Internal Audit’s independence and objectivity and describes how Internal Auditor interact with the business and with the Society’s Audit Committee.