UK building societies are urging the government to consider returning Northern Rock, the nationalised bank, to the mutual sector when it is sold off. The Building Societies Association cited an academic report that makes a case for converting troubled banks into mutual organisations. Northern Rock is due to be split into a good bank and bad bank subject to European Commission approval. One half is to be sold in the coming year.

This entry was posted by Gwen Robinson on Tuesday, September 29th, 2009 at 4:44 and is filed under Capital markets. Tagged with northern rock. Edit this entry.