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B&B rating downgraded

Moody’s has downgraded Bradford & Bingley, calling the lender weakly capitalised and overreliant on Bank of England funding. B&B’s arrears are higher than any of its UK peers, having gone from 2.1% to 3.1% during the first half of 2008. Moody’s says the economic downturn is only in its early stages and expects arrears to rise further.

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Demand soars for unemployment insurance

The deteriorating economy is beginning to inflict a toll on the jobs market, which has resulted in a surge in demand for unemployment insurance protection polices, says Paymentcare.co.uk.

Landlords delay on EPCs

Research from Paragon Mortgages reveals that the majority of landlords haven’t arranged Energy Protection Certificates despite the deadline being only a week away.

IMLA hits out at extension of SLS

Peter Williams, executive director of IMLA, says the Bank of England’s decision to extend the term of its Special Liquidity Scheme is madness as it will exclude a lot of broker lenders.

Central banks club together to tackle funding

The Bank of England is injecting $40bn into the markets as part of a combined effort across several central banks to tackle the pressures on funding markets.

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