BoE papers 'hint at £2.9bn Northern Rock loan'

Simon Ward, of New Star, says the documents suggest the BoE may have helped out the troubled bank to the tune of £2.9bn last week. However, neither the Bank of England nor Northern Rock has confirmed this. Ward says the key statistic is listed on the sheets under the ‘other assets’ category which, he says, rarely changes from week to week. However, Ward says the Bank’s balance sheet totals climbed by £11.3bn from the previous week, with only £8.4bn of that explained away. “The Bank of England’s balance sheet has expanded by 13% over the last week as a result of its intervention to stabi...