LONDON - The Bank of England has lent about £3 billion ($6 billion) to troubled British mortgage lender Northern Rock, Analysis of the Bank of England's weekly balance sheet showed that Northern Rock PLC had been forced to borrow about £3 billion ($6 billion) in publicly funded loans. A Bank of England spokeswoman confirmed that its weekly balance sheet had expanded, but said the £3 billion ($6 billion) figure was speculative.
Sunday, September 23, 2007
Bank of England News
LONDON - The Bank of England has lent about £3 billion ($6 billion) to troubled British mortgage lender Northern Rock, Analysis of the Bank of England's weekly balance sheet showed that Northern Rock PLC had been forced to borrow about £3 billion ($6 billion) in publicly funded loans. A Bank of England spokeswoman confirmed that its weekly balance sheet had expanded, but said the £3 billion ($6 billion) figure was speculative.
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