Northern Rock
THE Northern Rock Building Society formally became the bank Northern Rock in 1997, when it was floated on the stock market. It remained an independent bank specialising in mortgages and saving accounts until its credit problems reached a crisis point in 2007, which resulted in the nationalisation of the bank in early 2008 and its suspension from the London Stock Exchange.
In September 2007, customers grew increasingly worried over reports regarding Northern Rock's request for an emergency loan from the Bank of England, resulting in the first run on a bank in the UK since 1866.
Northern Rock
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