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Fears Spread Among UK Bank's Customers

Saturday, September 15, 2007 6:49:51 PM
By D'ARCY DORAN

Hundreds of Northern Rock bank customers queue outside the Leeds Branch, England, Saturday, Sept. 15, 2007. Customers lined up outside branches of the British mortgage bank for a second day on Saturday as fears spread over the bank's emergency loan from the Bank of England amid global financial turmoil. Customers withdrew 1 billion pounds (US$2 billion, euro1.5 billion) from Northern Rock, Britain's fifth largest mortgage lender, on Friday, The Financial Times reported, citing a person described as close to the situation. (AP Photo/PA, John Giles) LONDON (AP) - Hundreds of customers lined up to withdraw their savings from a British mortgage bank Saturday, ignoring government assurances that their money was safe despite the bank's request for an emergency loan.

Police were called in some cities to steer panicked crowds away as Northern Rock bank branches closed for the day.

Fears have spread over the bank's request earlier in the week for an emergency Bank of England loan amid the global credit crisis. Northern Rock, Britain's fifth-largest mortgage lender, is the first British bank in 15 years to be bailed out by regulators.


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