REPAIRING THE CRACKS: THE SUPERVISORY ROLE OF THE BANK OF ENGLAND POST‐NORTHERN ROCK

David B. Smith

Economic Affairs, 2008, vol. 28, issue 1, 58-59

Abstract: Last autumn's run on Northern Rock was arguably of more political than economic importance. However, it is significant that most of the deposits were lost from internet and postal accounts rather than withdrawn by the picturesque queues of small investors, which attracted so much media attention, making it possibly the first cyber run on a bank. More can be learnt from failures than successes, and it now seems appropriate to consider the longer‐term implications of the Northern Rock affair for the supervisory responsibilities of the Bank of England.

Date: 2008
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