Repairing the Cracks: The Supervisory Role of the Bank of England Post-Northern Rock

2 Pages Posted: 26 Feb 2008

Abstract

Last autumn's run on Northern Rock was arguably of more political than economic importance. However, it is significant that most of the deposits were lost from internet and postal accounts rather than withdrawn by the picturesque queues of small investors, which attracted so much media attention, making it possibly the first cyber run on a bank. More can be learned from failures than successes, and it now seems appropriate to consider the longer-term implications of the Northern Rock affair for the supervisory responsibilities of the Bank of England.

Suggested Citation

Smith, David B., Repairing the Cracks: The Supervisory Role of the Bank of England Post-Northern Rock. Economic Affairs, Vol. 28, Issue 1, pp. 58-59, March 2008, Available at SSRN: https://ssrn.com/abstract=1097148 or http://dx.doi.org/10.1111/j.1468-0270.2008.00802.x

David B. Smith (Contact Author)

University of Derby ( email )

Kedleston Road
Derby, Derbyshire DE22 1GB
United Kingdom

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