An industry insider says the lender was in talks with Lloyds TSB, HSBC and Barclays over the summer with regard to arranging capital to cover the sum.
He says: “It’s logical that HBOS and Lloyds would merge because Lloyds is the only major player with exposure minimal enough to prop up the market.
“Lloyds’ liquidity would be a perfect match for HBOS.”
HBOS is set to merge with Lloyds and says the figures regarding wholesale funding have been available for some time in the bank’s reports.
A spokesman says: “Wholesale funds valued at £164bn will mature within the next 12 months and so will need to be renewed.
“HBOS continues to access the wholesale money markets where appropriate. HBOS has taken a cautious view on the outlook for the securitisation markets for some time and has adapted its business plan accordingly.”
He adds: “HBOS has the strongest capital ratio, a key measure of financial strength, of all the major UK domestic banks.”