Bank of England Tries to Stop Bank Run

Bank of England tries to stop a run on mortgage bank
By Tariq Panja, Associated Press Writer

LONDON — The Bank of England provided emergency funding to mortgage lender Northern Rock on Friday after the bank, citing the global credit squeeze triggered by the U.S. subprime mortgage crisis, said it was unable to line up short-term loans from other financial institutions.
Even after the central bank issued a statement saying Northern Rock was solvent, slow-moving lines of customers snaked through the doors at the bank's branches to make withdrawals.

http://www.usatoday.com/money/world/2007-09-14-british-bank_N.htm

Northern Rock Gets Emergency Bank of England Funding (Update8)
By Ben Livesey and Jon Menon

Sept. 14 (Bloomberg) -- Northern Rock Plc got emergency funding from the Bank of England, the biggest bailout of a British lender in 30 years, after rising credit costs left the mortgage provider unable to make new loans.

http://www.bloomberg.com/apps/news?pid=20601087&sid=a7WvTBECy164&refer=home

Northern Rock Crumbles
Vidya Ram, 09.14.07, 9:40 AM ET

LONDON -
The moment that the British banking sector has been dreading came on Friday. Northern Rock, the country's fifth-largest mortgage lender, confirmed late on Thursday that it had requested and received a line of emergency funding from the Bank of England.

http://www.forbes.com/markets/2007/09/14/northern-rock-britain-markets-equity-cx_vr_0914markets03.html