This exercise will complete later this year as we have forecasted. The focus will now start to move to simplification and as the integration initiative is complete, more resources will be freed up to deliver the simplification initiatives I outlined to you in June.We have continued to make significant progress in reducing the group's risk profile and strengthening the balance sheet. We have reduced our noncore assets by GBP 31 billion in the last 6 months and it now stands at GBP 162 billion. We've improved our funding position with GBP 25 billion of term fund raised in the first half and grew our core relationship deposits by 3% in the same period. These actions have facilitate further substantial reductions in liquidity support from government and Central Bank facilities with only GBP 37 billion now outstanding at the end of the half year.
Lloyds Banking Group Plc Management Discusses Q2 2011 Results - Earnings Call Transcript
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