The Society uses wholesale funding to provide diversification of funding, supporting growth and lowering risk as well as providing value to members through lowering the overall cost of funding. Our wholesale funding is raised through money markets deposits and a range of instruments, which are diversified across short and long-term maturities. We’ve raised wholesale funds by issuing notes under our Covered Bonds programme and by issuing Residential Mortgage Backed Securities through our Master Issuer Programme. Treasury can only accept funds from institutional investors. The minimum amount that can be placed with us is £1 million.