Northern Rock: The Anatomy of a Crisis—The Prudential Lessons

Sonia Ondo Ndong and Laurence Scialom

Chapter 3 in Financial Institutions and Markets, 2009, pp 51-74 from Palgrave Macmillan

Abstract: Abstract This chapter attempts to analyze the main characteristics of the Northern Rock crisis and the responses of the Bank of England as lender of last resort (LOLR). On the basis of the diagnosis about the causes and the handling of this banking crisis we detect the shortcomings prevailing in the UK prudential device. We therefore try to draw the prudential lessons of this experience. As we cannot claim to present an exhaustive picture of the crisis’s implications from a prudential point of view, we chose to focus instead on the points with practical significance far beyond the UK’s case.

Keywords: European Central Bank; Deposit Insurance; Liquidity Risk; Market Liquidity; Insolvency Proceeding (search for similar items in EconPapers)
Date: 2009
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
Working Paper: Northern Rock: The anatomy of a crisis – the prudential lessons (2008)
Working Paper: Northern Rock: The anatomy of a crisis – the prudential lessons (2008)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-10324-5_3

Ordering information: This item can be ordered from
http://www.palgrave.com/9780230103245

DOI: 10.1057/9780230103245_3

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().