Brussels clears Rock break-up
The European Commission has given the green light to plans laid out by the new management of Northern Rock to split the nationalised institution into a "good" and "bad" bank.
Europe's competition commissioner, Neelie Kroes, noted that important structural changes, including the split of the bank into two entities, with the good and bad assets separated into each new respective entity, as well as a significant reduction of its market presence, will allow the bank to become viable in the long-term
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Banking
ECB and EBA establish new bank supervisory committee
New body aims to harmonise supervisory, resolution and statistical reporting
FCA official confirms end of ‘temporary permissions regime’
European firms must have UK regulatory approval by December 30
Jamaica ‘twin peaks’ law coming in 2025, official says
Central bank will oversee non-bank sector after scandal at securities firm
FDIC to review sexual misconduct and discrimination allegations
Agency promises ‘independent review’ as chair faces charges of improper behaviour
RBNZ to ban foreign bank branches from retail deposits
Central bank plans to change regulatory policy for branches of overseas banks in 2028
China vows long-term strategy to resolve local debt risks
Officials stress need to strengthen Communist party control over China’s financial sector
Former executives of troubled lender wanted by Vietnam police
Central bank is looking for investors to acquire failed Saigon Commercial Bank
US regulators issue new climate guidance, despite opposition
Governors Waller and Bowman voice strong disapproval
Most read
- ECB staff speak out against changes to internal survey
- Central bank of the year: Central Bank of Brazil
- Fed holds rates as it struggles with inflation’s last mile