(1) Section 7 of the Building Societies Act 1986 (the funding limit) is amended as follows.
(2) In subsection (3) (disregarded funds), after paragraph (b) insert -
"(c) amounts drawn by the society from a specified liquidity insurance facility provided by the Bank of England;
(d) amounts represented by specified debt instruments issued by the society with a view to maintaining the minimum requirement for own funds and eligible liabilities;
(e) sums received by the society under a sale and repurchase agreement entered into by the society with a view to complying with a specified PRA rule."
(3) After subsection (9) insert -
"(9A) In subsections (3) and (9B) -
"liquidity insurance facility" means a facility provided by the Bank of England enabling a building society to borrow cash or other relatively liquid assets in exchange for collateral (and "relatively liquid assets" means assets which are more liquid than the collateral provided);
"the minimum requirement for own funds and eligibl
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