Treasury

Wholesale funds are used principally to maintain an appropriate level of liquidity and to provide a committed source of funds to enable the Society to meet its liabilities even under the most difficult conditions. Wholesale funding is therefore structured to match closely the underlying liquid assets which are being funded.

In line with prudential requirements the Society sources over 50% of its total funding requirements from members funds. The remaining funding is generated from the Wholesale markets. The Society uses a range of instruments including:

• Time Deposits
• Certificates of Deposits (CDs)
• Floating Rate Notes (FRNs)
• Bank Loans
• Commercial Paper - Click to open PDF
• Repurchase Agreements
• Medium Term Notes (MTNs) - Click to open PDF
• Covered Bonds – Click for details

To ensure that funding is not over dependent on any one source or type, appropriate limits exist to control these proportions.

Credit Rating Agencies

• Moodys - A2/P-1/C+
• Fitch - A/F1

For more information about the Society’s approach to Wholesale Funding, please contact the Dealing team at treasuryfrontoffice@leedsbuildingsociety.co.uk