Nationwide Building Society

Investors who hold bond-like assets issued by Nationwide Building Society can sell them back to the mutual early under an offer made this week.

The Bank of England (BoE) has told building society Nationwide that it is not allowed to hold back lending to small and medium-sized businesses (SME) as it tries to meet the regulator's new capital rules.

FIVE THINGS

Building society Nationwide has poached a senior executive at the Financial Conduct Authority to run its compliance department.

The Prudential Regulation Authority (PRA) has accepted building society Nationwide's proposition to raise capital and mitigate business risks, granting it a two year extension.

More than £10bn has now been returned to payment protection insurance (PPI) policyholders by the banks and building societies that mis-sold it to them, according to the latest figures from the Financial Conduct Authority (FCA).

The seven-figure sums lavished on Nationwide's top brass have been thrown into the spotlight as it grapples with a £1bn black hole in its finances.

Provider Aegon UK has hired John Wilkinson, previously head of protection and investments at Nationwide Building Society, as protection director.

Britain's biggest building society Nationwide has launched an investment service aimed at customers who want to put aside sums as low as £20 a month.

Lenders have drawn down £16.5bn from the Funding for Lending Scheme since it opened on 1 August 2012 but net lending has fallen since the launch of the flagship scheme.