The PRA has updated its credit union webpage with information on interest-bearing shares, which is only applicable to credit unions in Great Britain.
The webpage explains what an interest-bearing share is and sets out the conditions that must be met before a credit union can issue them.
The PRA has also issued a:
- template for the report that credit unions issuing interest-bearing shares must submit to it; and
- notification form that credit unions must submit to it before offering corporate membership, deferred shares and/or interest-bearing shares.
View Credit unions, 5 December 2013
View Credit unions – issue of interest-bearing shares, 5 December 2013
View Notification of starting a specified activity, 5 December 2013