In the News - Northern Rock
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Troubled Northern Rock bailed out by Bank of England
Troubled mortgage lender, Northern Rock, was last night thrown a lifeline by the Bank of England which provided it with an "unlimited" loan to ease its money worries. The move came a day after the Bank of England said it would not takes steps to ease banks' credit concerns - reported in yesterday's In the News.
Customers of Northern Rock were urged not to worry however - the lender is estimated to hold more than £100 billion in assets and other collateral.
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Posted by Plebble Admin at 12:40 on 14-Sep-2007
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