Post by Bugs on Oct 28, 2009 9:29:31 GMT
The European Union (EU) is set to approve plans for nationalised Northern Rock bank to be split in two - paving the way for a partial sale.
One business, to be known as the "good bank" would hold savers' money, carry out new lending, and hold some existing mortgages.
A second "bad" bank would be set up to hold the rest of the mortgages and repay outstanding government loans.
Link to full story:
news.bbc.co.uk/1/hi/business/8329091.stm
One business, to be known as the "good bank" would hold savers' money, carry out new lending, and hold some existing mortgages.
A second "bad" bank would be set up to hold the rest of the mortgages and repay outstanding government loans.
Link to full story:
news.bbc.co.uk/1/hi/business/8329091.stm
