[Er, sorry, this post had been intended for uk.transport.london, not
uk.railway - I've x-posted it there now, any respondents feel free to
exclude uk.railway and post to utl only - with such an exquisite level
of accuracy, it's probably just as well I'm not trading these
things...]

On Nov 18, 11:56*pm, Mizter T wrote:
Potentially interesting development in TfL's financial arrangements -
TfL press release:
http://www.tfl.gov.uk/corporate/media/newscentre/17462.aspx

Excerpt:
---quote---
'TfL secures first short-term borrowing under its newly established
£2bn Commercial Paper Programme'
18 November 2010

Transport for London's (TfL's) Commercial Paper Programme established
to secure an additional source of financing at competitive rates.

The decision to utilise the Commercial Paper Programme reflects sound
and innovative financial decision making by TfL to maximise investment
in London's transport network.

TfL is one of the first UK public bodies to establish a Commercial
Paper Programme.
[snip]
---/quote---