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Alliance & Leicester are lining up funding for 2008 |
To avoid falling victim to the funding crisis that brought about Northern Rock’s downfall, Alliance & Leicester has put in place additional funding facilities, a large proportion of which are backed by its residential mortgage assets. According to Alliance & Leicester’s 2007 results statement released in February, these new facilities have enabled it to fund all its customer loans and advances with customer deposits and wholesale funding with a duration of more than six months.
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