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Tuesday, September 18
Relief as Northern Rock shares up
by
Jet-to-Let Magazine
on Tue 18 Sep 2007 16:20 BST
Shares in Northern Rock have recovered some ground after the government promised to protect savers' deposits. Desperate to restore faith in British banks, Chancellor Alistair Darling pledged the Bank of England would guarantee all existing deposits. The unprecedented move led to drop in the number of people queuing ... more » Monday, September 17
Bank lending rate rises on Northern Rock woes
by
Jet-to-Let Magazine
on Mon 17 Sep 2007 17:12 BST
The short-term lending cost between banks has shot up in the wake of the run on Northern Rock, figures show today. The overnight interbank Libor rate surged to 6.47 per cent this morning compared with 5.87 per cent on Friday and above the 5.75 per cent Bank of England ... more »
Mortgage borrowers and savers told not to panic
by
Jet-to-Let Magazine
on Mon 17 Sep 2007 16:45 BST
Borrowers and savers have little to fear, despite Northern Rock's need for an emergency loan from the Bank of England, industry experts said, though they believe liquidity problems could slow the property market. Mortgage borrowers and savers with Northern Rock -- the country's eighth-largest listed bank -- can have ... more » Friday, September 14
Bank of England in dramatic intervention
by
Jet-to-Let Magazine
on Fri 14 Sep 2007 16:41 BST
The Bank of England was last night forced to hand emergency funding to one of Britain's biggest mortgage providers - Northern Rock - as it became the first major financial institution in the UK to run into serious trouble as a result of the credit crisis that has caused turmoil ... more » |
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