Page 16 - Pillar 3 Disclosure
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6. Credit Risk



The Society is participant in the Bank of England Discounted Window Facility (DWF) and Funding for Lending Scheme (FLS). Under FLS the bank 

lends the Society treasury bills against the security of mortgage assets. As at the 30 November 2013 the Society had 3 portfolios of £40m pre- 

positioned as potential collateral. One of these portfolios has been utilised to draw Treasury Bills under the FLS scheme. As at the 30 November 


2013 £10m had been drawn down.



The Society regards as ‘past due’ any mortgage or loan account where more than three monthly repayments have not been made at the 

accounting date. Arrears of mortgage repayment are monitored closely and the Society has performed favourably in comparison with national 


arrears statistics. A geographical analysis of Society exposures is given in Table 4.



Table 4 

Geographical Residential


Analysis 

Geographical region
Past due Indexed security Performing Total 

value of past due

loans

£000
£000
£000

£000 
   

North 0  0
8,026 8,026 

155 294
12,041 12,196 Yorkshire & Humberside 


825 1,001 21,909
22,734
East Midlands

1,808 4,359 157,631 159,439 East Anglia

757 2,853 63,189 63,946 Greater London


2,098 4,247 156,603 158,701 South East 

87 496 28,541 28,628 South West 

669 1,061 18,688 19,357 West Midlands 


682 953    17,312 17,994 North West

Wales 38  0    7,658 7,696 

Total 7,119      15,264
491,598
498,717









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