Darling Guarantees All Northern Rock Deposits
17/09/07 Filed in: All
"Should it be necessary, we and the Bank of England would put in place arrangements that would guarantee all the deposits in Northern Rock,'' Darling told reporters in London today.
The guarantee will be extended to any bank in similar circumstances, so long as it is solvent, a Treasury spokesman said. The change in policy is also an attempt to limit the political damage from Northern Rock's trouble.
The guarantee will be extended to any bank in similar circumstances, so long as it is solvent, a Treasury spokesman said. The change in policy is also an attempt to limit the political damage from Northern Rock's trouble.