IDEAS home Printed from https://ideas.repec.org/a/aic/revebs/y2008i2ungureanum.html
   My bibliography  Save this article

Northern Rock: The Crisis of a UK Mortgage Lender

Author

Listed:
  • Maria-Cristina UNGUREANU

    (European Corporate Governance Institute, University of Genoa, Italy)

  • Vasile COCRIS

    (Faculty of Economics and Business Administration, "Al.I.Cuza" University of Iasi, Romania)

Abstract

The global market liquidity squeeze for securities that initiated in 2007 has increased pressure among banks to sell, pushed down prices, and impacted the market for interbank loans, leading to a funding gap at Northern Rock, Britain’s fifth largest mortgage bank. This paper presents an analysis of the events that lead to the collapse of Northern Rock in the second half of 2007 and its rescue by the UK Government towards the end of the same year and the beginning of 2008. The paper presents the implications and banking reforms proposed by the UK financial authorities.

Suggested Citation

  • Maria-Cristina UNGUREANU & Vasile COCRIS, 2008. "Northern Rock: The Crisis of a UK Mortgage Lender," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, issue 2, pages 129-139, November.
    • Handle: RePEc:aic:revebs:y:2008:i:2:ungureanum
    as

    Download full text from publisher

    File URL: http://rebs.ro/resource/REBS_2/Case%20Studies/Ungureanu_M_Cocris_V_-_Northern_Rock_the_crisis_of_a_UK_mortgage_lender.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    More about this item

    Keywords

    financial crisis; banking reforms; financial regulation;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aic:revebs:y:2008:i:2:ungureanum. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sireteanu Napoleon-Alexandru (email available below). General contact details of provider: https://edirc.repec.org/data/feaicro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.