HBOS, as Appetite for Debt Wanes, Aids Banking Affiliate.

The article reports on the decision of British bank HBOS PLC to step in to cover maturing asset-backed commercial paper issued by its affiliate called Grampian. It states that it is rare for banks to step in to cover loans for their affiliates. According to ratings agencies, Grampian owns mortgage securities that include U.S. subprime loans, which date to 2004 and earlier. It is inferred that banks sales desks in London, England, are having a difficult time trying to sell European commercial paper.