Northern Rock: the crisis of a UK mortgage lender

Maria Cristina Ungureanu () and Vasile Cocris

Analele Stiintifice ale Universitatii "Alexandru Ioan Cuza" din Iasi - Stiinte Economice (1954-2015), 2008, vol. 55, 154-162

Abstract: The global market liquidity squeeze for securities that initiated in 2007 has increased pressure among banks to sell, pushed down prices, and impacted the market for interbank loans, leading to a funding gap at Northern Rock, Britain’s fifth largest mortgage bank. This paper presents an analysis of the events that lead to the collapse of Northern Rock in the second half of 2007 and its rescue by the UK Government towards the end of the same year and the beginning of 2008. The paper presents the implications and banking reforms proposed by the UK financial authorities.

Keywords: mortgage bank; market liquidity; banking reforms; financial authorities; financial crisis (search for similar items in EconPapers)
Date: 2008
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Journal Article: Northern Rock: The Crisis of a UK Mortgage Lender (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:aic:journl:y:2008:v:55:p:154-162

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