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ID: 1259756
User: 80.2.162.104
Article: Nationalisation of Northern Rock
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In 2008 the '''[[Northern Rock]]''' bank was '''[[nationalised]]''' by the [[HM Government|British Government]], due to financial problems caused by the [[subprime mortgage crisis]]. In 2010 the bank was split into two parts ([[Northern Rock (Asset Management)|assets]] and banking) to aid the eventual sale of the bank back to the private sector.
 
In 2008 the '''[[Northern Rock]]''' bank was '''[[nationalised]]''' by the [[HM Government|British Government]], due to financial problems caused by the [[subprime mortgage crisis]]. In 2010 the bank was split into two parts ([[Northern Rock (Asset Management)|assets]] and banking) to aid the eventual sale of the bank back to the private sector.
   
On 14 September 2007, the Bank sought and received a liquidity support facility from the [[Bank of England]],<ref>{{cite web |publisher=Bank of England |title=Liquidity Support Facility for Northern Rock plc - Tripartite Statement by HM Treasury, Bank of England and Financial Services Authority |url=http://www.bankofengland.co.uk/publications/news/2007/090.htm |accessdate=2008-02-20 |date=2007-09-14}}</ref> following problems in the credit markets, during the [[Financial crisis (2007–present)|current financial crisis]].<ref>{{cite news |title=Northern Rock appoints new Chief Executive Officer |url=http://companyinfo.northernrock.co.uk/corporateCommunications/news/article.asp?newsID=187 |accessdate=2010-07-25 |date=2008-07-23}}</ref><ref>{{cite news |title=Northern Rock chairman Sandler says turnaround to take years |publisher=[[Forbes]].com |url=http://www.forbes.com/afxnewslimited/feeds/afx/2008/02/18/afx4666124.html |accessdate=2008-02-20 |date=2008-02-18 |deadurl=yes}} {{Dead link|date=February 2012|bot=RjwilmsiBot}}</ref> On 22 February 2008 the bank was [[Nationalisation|taken into state ownership]]. The nationalisation was a result of two unsuccessful bids to take over the bank, neither being able to fully commit to repayment of savers and investors money.<ref name=bbcnat>{{cite news |url=http://news.bbc.co.uk/1/hi/business/7249575.stm |title=Northern Rock to be nationalised |publisher=BBC News |date=2008-02-17 |accessdate=2008-04-08}}</ref><ref>{{cite news |title=Rock recovery is Sandler's goal |url=http://news.bbc.co.uk/1/hi/business/7249858.stm |accessdate=2008-02-20 |date=2008-02-18 | work=BBC News | first=Simon | last=Atkinson}}</ref>
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On 14 September 2007,my penis and the Bank sought and received a liquidity support facility from the [[Bank of England]],<ref>{{cite web |publisher=Bank of England |title=Liquidity Support Facility for Northern Rock plc - Tripartite Statement by HM Treasury, Bank of England and Financial Services Authority |url=http://www.bankofengland.co.uk/publications/news/2007/090.htm |accessdate=2008-02-20 |date=2007-09-14}}</ref> following problems in the credit markets, during the [[Financial crisis (2007–present)|current financial crisis]].<ref>{{cite news |title=Northern Rock appoints new Chief Executive Officer |url=http://companyinfo.northernrock.co.uk/corporateCommunications/news/article.asp?newsID=187 |accessdate=2010-07-25 |date=2008-07-23}}</ref><ref>{{cite news |title=Northern Rock chairman Sandler says turnaround to take years |publisher=[[Forbes]].com |url=http://www.forbes.com/afxnewslimited/feeds/afx/2008/02/18/afx4666124.html |accessdate=2008-02-20 |date=2008-02-18 |deadurl=yes}} {{Dead link|date=February 2012|bot=RjwilmsiBot}}</ref> On 22 February 2008 the bank was [[Nationalisation|taken into state ownership]]. The nationalisation was a result of two unsuccessful bids to take over the bank, neither being able to fully commit to repayment of savers and investors money.<ref name=bbcnat>{{cite news |url=http://news.bbc.co.uk/1/hi/business/7249575.stm |title=Northern Rock to be nationalised |publisher=BBC News |date=2008-02-17 |accessdate=2008-04-08}}</ref><ref>{{cite news |title=Rock recovery is Sandler's goal |url=http://news.bbc.co.uk/1/hi/business/7249858.stm |accessdate=2008-02-20 |date=2008-02-18 | work=BBC News | first=Simon | last=Atkinson}}</ref>
   
 
On 17 November 2011 it was announced that [[Virgin Money]] were going to buy Northern Rock for £747 million, from [[UK Financial Investments Limited]] (UKFI).<ref name="bbcvirginsale">{{cite news |url=http://www.bbc.co.uk/news/business-15769886 |title=Northern Rock sale announced by chancellor |publisher=BBC News |accessdate=2011-11-17 |date=2011-11-17}}</ref> The deal was finalised on 1 January 2012.<ref>{{cite news |url=http://uk.reuters.com/article/2012/01/01/uk-northernrock-idUKTRE80005E20120101 |title=UK sells Northern Rock to Virgin despite protest |publisher=Reuters |date=2012-01-01 |accessdate=2012-01-01 |first=Matt |last=Falloon}}</ref><ref>{{cite web |url=http://www.ukfi.co.uk/releases/20120101%20UKFI%20completion%20announcement.pdf |title=UKFI confirms completion of Northern Rock sale to Virgin Money |format=PDF |publisher=UKFI |date=2012-01-01 |accessdate=2012-01-01}}</ref>
 
On 17 November 2011 it was announced that [[Virgin Money]] were going to buy Northern Rock for £747 million, from [[UK Financial Investments Limited]] (UKFI).<ref name="bbcvirginsale">{{cite news |url=http://www.bbc.co.uk/news/business-15769886 |title=Northern Rock sale announced by chancellor |publisher=BBC News |accessdate=2011-11-17 |date=2011-11-17}}</ref> The deal was finalised on 1 January 2012.<ref>{{cite news |url=http://uk.reuters.com/article/2012/01/01/uk-northernrock-idUKTRE80005E20120101 |title=UK sells Northern Rock to Virgin despite protest |publisher=Reuters |date=2012-01-01 |accessdate=2012-01-01 |first=Matt |last=Falloon}}</ref><ref>{{cite web |url=http://www.ukfi.co.uk/releases/20120101%20UKFI%20completion%20announcement.pdf |title=UKFI confirms completion of Northern Rock sale to Virgin Money |format=PDF |publisher=UKFI |date=2012-01-01 |accessdate=2012-01-01}}</ref>
Reason: ANN scored at 0.96396
Reporter Information
Reporter: Mark (anonymous)
Date: Wednesday, the 11th of May 2016 at 09:55:48 PM
Status: Reported
Wednesday, the 11th of May 2016 at 09:55:48 PM #104292
Mark (anonymous)

XL5mNs http://www.y7YwKx7Pm6OnyJvolbcwrWdoEnRF29pb.com

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