securitisation
the group's results include the results and asset and liabilities of securitisation special purpose entities ("SPEs") on a line basis. securitised advances are subject to non-recourse finance arrangements. these loans have been purchased at par by the SPEs from northern rock plc,and have been funded through the issue of mortgage-backed bonds.the balances of assets subject to securitisation notes in issue at 31 December 2006 are as follows.