Northern Rock borrows another $10 billion from Bank of England news
29 September 2007

Mumbai: Ailing British mortgage lender Northern Rock may have borrowed a further five billion pounds ($10.1 billion) from the Bank of England in the past week, analysts who studied Bank of England data said.

Northern Rock''s borrowing from the Bank of England could thus swell to almost 8 billion pounds ($16 billion)since the central bank stepped in to offer emergency funding two weeks ago.

The Bank of England''s weekly accounts showed that in the past two weeks its assets had grown by 14.3 billion pounds, including 7.75 billion pounds classified under "other assets," said an analyst.

also see : General reports on Financial services

 search domain-b
  go
 
Northern Rock borrows another $10 billion from Bank of England