Northern Rock

House of Lords written question – answered on 11th March 2009.

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Photo of Lord James of Blackheath Lord James of Blackheath Conservative

To ask Her Majesty's Government further to the Written Answer by Lord Myners on 5 February (WA 139), whether the continuation of the previous consent of the European Commission to the rescue of Northern Rock has taken full account of the decision to allow Northern Rock to resume active mortgage lending.

Photo of Lord Myners Lord Myners Parliamentary Secretary, HM Treasury

The previous consent of the European Commission to the rescue of the bank under its competition rules continues while the European Commission is considering Northern Rock's restructuring. Treasury officials have informed the European Commission of the decision to allow Northern Rock to resume active mortgage lending and remain in close contact with the European Commission.

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