UK regulators work on mortgage bank rescue plan

As a result of the fallout from the crisis at Northern Rock, the UK Treasury, Bank of England and Financial Services Authority have produced consultation papers with recommendations on how to deal with similar episodes in future.

Newcastle-based mortgage lender Northern Rock had to be nationalised in February, when an evaporation of liquidity in both the wholesale and short-term money markets shook investor confidence and led to a bank run on the firm.

The results of the consultation between the U

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