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Northern Rock

Treasury written question – answered on 8th May 2008.

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Photo of Adam Price Adam Price Spokesperson (Communities and Local Government; Culture, Media and Sport; Defence; Transport; Ministry of Justice)

To ask the Chancellor of the Exchequer what proportion of the totals for (a) other liabilities and (b) other assets listed in the Bank of England's consolidated statement of 20 February is directly related to its financial support for Northern Rock.

Photo of Kitty Ussher Kitty Ussher Economic Secretary, HM Treasury

holding answer 27 February 2008

The Government do not generally comment on the Bank of England lending to individual institutions, which is a commercial matter between the Bank and that institution.

Northern Rock published its accounts for 2007 on 31 March 2008 at:

http://companyinfo.northernrock.co.uk/downloads/2007_annual_report.pdf

This includes some details about its outstanding loans from the Bank of England. The company operates at arm's length from the Government on commercial principles. It is a matter for its management to release further business updates.

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