Northern Rock last week borrowed another £2.3bn from the Bank of England, it emerged on Thursday, taking its total to £13bn. Four weeks after the lender went to the Bank for support, its weekly borrowing has fallen from £2.9bn in the week to October 3 and £4.9bn the previous week. The figures were revealed in the weekly publication of the central bank’s balance sheet. The Newcastle-based bank is also now permitted to use any assets as collateral in exchange for Bank of England cash.

This entry was posted by Sam Jones on Friday, October 12th, 2007 at 5:21 and is filed under Capital markets. Tagged with northern rock. Edit this entry.