Rock loans reach £23bn

clock

Northern Rock's emergency funding line has now reached around £23bn, according to the latest balance sheet figures from the Bank of England.

The Bank of England’s ‘other assets’ category on its balance sheet has shot up by another £2.2bn since last week. The ‘other assets’ category is generally thought to be the best indicator of Northern Rock’s emergency funding as it is usually static but has been growing since the run on Northern Rock in September. Former chairman of Northern Rock, Matt Ridley, revealed analysts' predictions of the amount Northern Rock had borrowed, based on balance sheet observations, were correct as he was grilled by the Treasury Select Committee. Northern Rock has funding until February when it must ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Adviser on crypto: 'I spend most of my time telling clients not to invest in it'

Adviser on crypto: 'I spend most of my time telling clients not to invest in it'

Panel unpacks next gen themes in advice

Isabel Baxter
clock 10 February 2026 • 3 min read
New Talent Alliance uncovers 'inconsistent' advice market data

New Talent Alliance uncovers 'inconsistent' advice market data

Identified ‘serious long‑term talent pipeline risk’

Jenna Brown
clock 10 February 2026 • 2 min read
Dynamic Planner CEO: Cost to serve remains advice's 'Achilles heel'

Dynamic Planner CEO: Cost to serve remains advice's 'Achilles heel'

Updates on technology’s firm AI developments

Isabel Baxter
clock 10 February 2026 • 2 min read