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Sam Woods: Mutual interests Speech by Mr Sam Woods, Deputy Governor for Prudential Regulation of the Bank of England and Chief Executive of the Prudential Regulation Authority (PRA), at the Building Societies Annual Conference, 05 May 2021. * * *  Introduction It’s very good to be back at the Building Society Association’s Annual Conference. Last time I spoke at the conference we were all in the QEII conference centre and the BSA was celebrating its 150th birthday by listening to a speech from me, which illustrates the powers of endurance the industry possesses. Mike Regnier had also just been announced as the new Chair of the BSA, and celebrated this by peppering me with awkward questions, just like he used to do at the business school in France where I first met him in 1998. As today is his last day I’m worried he is going to ask me even more difficult questions, in which case I think he will find that the Woods household wifi is having a bad day. In the meantime, I will offer a few comments on some of our shared favourite prudential topics. Building a bridge As you all know, over the past year the UK economy has experienced one of the sharpest economic declines in modern history, with parts of the economy fully shut down or restricted for large parts of the year. Our strategy through this period has been simple: to build a bridge to help us all get to the other side of this crisis safely.