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May 16, 2024 · Northern Rock was a casualty of the sub-prime mortgage crisis of 2007. Rather than using customer deposits as the source of funds to lend to homeowners, the Newcastle-headquartered bank borrowed ...
Northern Rock 191 Peachtree Tower Atlanta, GA 30303. 678-916-6515
NORTHERN ROCK LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity
Nov 17, 2011 · The Government is today announcing the sale of Northern Rock plc to Virgin Money. The deal maximises value for the taxpayer, who will receive £747 million in cash on closing, plus an expected ...
Jan 15, 2023 · Northern Rock was a UK-based mortgage lender based in Newcastle upon Tyne that was ultimately nationalised by the UK government in 2008 after experiencing a run by savers on their deposits. This was the first bank run in the UK since the 19th century. The bank had become heavily reliant on short-term wholesale funding to finance its ambitious ...
The failure of Northern Rock in 2007 and later, of RBS and Lloyds exposed brutally that the UK lacked the tools needed to manage the failure of a bank. Depositors were expected to take comfort from a depositor compensation scheme based on the principle of ‘co-insurance’. They were fully covered only for the first £2,000 of their deposit.
Northern Rock Shareholder Profiles. Brokers (shares held on behalf of retail investors) and Institutions held about 75% of Northern Rock shares with the rest directly held by private individuals. Below are some typical profiles of individual shareholders. It was suggested in the press that the only people left holding Northern Rock shares at ...
