BoE told Darling: 'Only you can save Rock' - Papers 7 Nov

Mervyn King, the Bank’s Governor, has shed light on the tentative approach for Northern Rock from Lloyds TSB. The bid broke down in early September after Lloyds asked for a £30bn Bank loan at competitive rates as part of the deal. In an interview to be broadcast tonight on BBC Radio 4’s File on 4, Mr King said: “I said to the Chancellor: ‘Well look, this is not something which a central bank can do, they don’t normally fund takeovers by one company for another, let alone to the tune of £30bn, which is rather a large amount of money’.” “So I said: ‘This is a matter for government, but y...