Northern Rock, Chelmsford, Essex. Northern Rock, formerly the Northern Rock Building Society, was a British bank. Based at Regent Centre in Newcastle upon Tyne, United Kingdom, Northern Rock was originally a building society. It demutualised and became Northern Rock bank in 1997, when it floated on the London Stock Exchange with the ticker symbol NRK. news that the bank had approached the government for support with its liquidity led within 24 hours to a public lack of confidence and the bank failed following a bank run as people rushed to withdraw their savings. It was the first British bank
Northern Rock, Chelmsford, Essex. Northern Rock, formerly the Northern Rock Building Society, was a British bank. Based at Regent Centre in Newcastle upon Tyne, United Kingdom, Northern Rock was originally a building society. It demutualised and became Northern Rock bank in 1997, when it floated on the London Stock Exchange with the ticker symbol NRK. news that the bank had approached the government for support with its liquidity led within 24 hours to a public lack of confidence and the bank failed following a bank run as people rushed to withdraw their savings. It was the first British bank in 150 years to fail due to a bank run
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Keywords: bank, banking, banks, british, building, chelmsford, crisis, demutualise, economy, essex, failure, finance, kingdom, liquidity, northern, rock, run, society, united
