Nationwide Building Society is the U.K.'s seventh-largest financial institution by reported assets, and the second-largest provider of residential mortgages and retail savings. It is also by far the largest U.K. building society. Capitalization, liquidity, and funding positions compare well with peers'. Nationwide's core Tier 1 ratio was a healthy 8.1% at April 4, 2008, and should remain broadly stable, which is an important rating factor given its lack of equity market access. As a precautionary measure in response to the credit crunch, Nationwide increased its liquid asset portfolio to 15.3% of total assets at April 4, 2008, and is consequently well placed to withstand current market disruptions. Retail deposits provide 69% of Nationwide's funding requirement and it achieved a strong
