...Sound Funding and Liquidity: Yorkshire Building Societys (Yorkshire) ratings reflect its sound funding and liquidity profile, key factors for its Issuer Default Ratings (IDRs) and Viability Rating (VR). Yorkshires on-balance-sheet liquidity buffer consists of high-quality assets, mainly cash placed at the Bank of England (BoE), but it also has good access to the various liquidity schemes available from the BoE. The society is mostly customer-funded but its ability to access wholesale funds remains solid. Diminishing Risk: Fitch Ratings views Yorkshires risk profile as having improved as it progresses with the consolidation of the various acquisitions it has made since the crisis. The acquisitions of Chelsea Building Society (2010), Norwich and Peterborough Building Society (2011) and the savings and mortgage business of Egg (October 2011) had raised the society's operational risk and costs, but Fitch believes that control over this risk is now adequate following the integration of the various...
