Northern Rocks shares rose from 30% today called for a mutual fund emergency Bank of England as a result of the credit squeeze in the interbank money market in Northern Rock is heavily dependent. Depositors panic, long queues outside branches of Northern Rock in Britain, the disbursements. Investors dumped shares on the open market, do not stop even if unfounded rumors of acquisition and the white knight for the drop in prices of banks.
InOur pre-entry market that openly warned about possible blood on the road "for the shareholders of Northern Rock because it is trying to run a high risk of a bank when depositors panic, withdraw their savings. E 'was then established. Bank Northern Rock is a price of emergency by the Bank of England
Northern Rock is the fifth largest UK mortgage lender, and the Bank of England considers necessary to ensure economic stability in Britain to come to their aid, the mortgageBank's credit line open for the duration of the crisis of liquidity, which is expected to continue well beyond 2008. The amount of funding has not yet been determined but is estimated at over 4 billion pounds (about 8 billion euros).
Northern Rock also has a profit warning that its profits this year will be 147 million compared to forecasts. A career in bank Northern Rock is expected to continue over the weekend that depositors to make withdrawals from the panic, without the Bank of EnglandThe emergency funds from the bank.
Originally published on September 14, 2007
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