The Failure of Northern Rock: A multi-dimensional Case Study

Konferenzbeitrag

In August 2007 the United Kingdom experienced its first bank run in over 140 years. Although Northern Rock was not a particularly large bank (it was at the time ranked 7th in terms of assets) it was nevertheless a significant retail bank and a substantial mortgage lender. In fact, ten years earlier it had converted from a mutual building society whose activities were limited by regulation largely to retail deposits and mortgages. Graphic television news pictures showed very long queues outside the bank as depositors rushed to withdraw their deposits. There was always a fear that this could spark a systemic run on bank deposits. After failed attempts to secure a buyer in the private sector, the government nationalised the bank and, for the first time, in effect socialised the credit risk of the bank. It is now a fully state-owned bank...

Angaben zum Objekt

• ISBN: 978-3-902109-46-0
• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: SUERF Studies ; No. 2009/1

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Household Saving; Personal Finance ; Consumer Protection ; Macroeconomics: Consumption; Saving; Wealth ; Money Supply; Credit; Money Multipliers ; Central Banks and Their Policies ; General Financial Markets: Government Policy and Regulation ; Banks; Depository Institutions; Micro Finance Institutions; Mortgages ; Financial Institutions and Services: Government Policy and Regulation ; Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill ; Bankruptcy; Liquidation ; Mergers; Acquisitions; Restructuring; Voting; Proxy Contests; Corporate Governance ; Corporate Finance and Governance: Government Policy and Regulation ; Economics of Regulation
• Thema: Northern Rock ; retail banking ; mortgages ; nationalisation ; bank failure ; United Kingdom ; LPHI risk ; lender of last resort ; deposit insurance ; market discipline ; Countrywide ; IndyMac ; United States ; deposit guarantees ; supervisory failure ; bank regulation ; return on equity ; business model ; securitisation ; financial regulation ; financial stability ; crisis management ; banking law ; insolvency ; emergency liquidity assistance ; cross-border bank insolvency ; moral hazard ; penalty rates ; teaser rates ; capital-asset ratios ; Basel I ; Basel II ; Hypothekenbank ; Finanzkrise ; Internationaler Finanzmarkt ; Bankenkrise ; Bankinsolvenz ; Verstaatlichung ; Bankenregulierung ; Großbritannien

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Congdon, Tim ; Goodhart, Charles A.E. ; Eisenbeis, Robert A. ; Kaufman, George G. ; Hamalainen, Paul ; Lastra, Rosa M. ; Llewellyn, David T. ; Mayes, David G. ; Wood, Geoffrey ; Milne, Alastair ; Onado, Marco ; Taylor, Michael
• Ereignis: Veröffentlichung
• (wer): SUERF - The European Money and Finance Forum
• (wo): Vienna
• (wann): 2009

Weitere Informationen

• Handle: http://hdl.handle.net/10419/163485
• Letzte Aktualisierung: 10.03.2025, 11:43 MEZ