Summary
NORTHERN Rock has turned to the Bank of England as the "lender of last resort" after difficulties raising cash from the wholesale markets.
The move is expected to spark fresh concerns that the impact of financial market turmoil is having a deeper impact on some banks than previously thought.See the full content of this document
Extract
Northern Rock Calls On Emergency Support From Boe
A GBP 4.4 billion relief fund offered by the BoE yesterday was drained by banking giants in less than an hour as they struggled to secure ...
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