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$$$ Money $$$
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According to the Daily Telegraph front-page headline, £1bn had been withdrawn from the Northern Rock after its accouncement that the Bank of England was ready to be "lender of last resort" following other institutions' unwillingness to lend NR money in the money markets. (And in general GBP 3M LIBOR / futures had risen about 1%, ie nearly 100bp, in the last month or so from the sub-prime uncertainties and credit-crunch.)
The BBC reported:
Long queues built up outside branches such as Kingston, Surrey, where some 250 people waited to take out money. ... Shares in Northern Rock fell by 32% on Friday after it emerged it had approached the Bank of England for help.
Download small medium full - FREE to download and use! (c) Damon Hart-Davis
($$$ Money $$$): run on Northern Rock bank long queue of people waiting to withdraw money TV cameras after sub prime credit crunch wobbles 20070915 September 2007 in Kingston London England 1 DHD.jpg
D=2007-09-15 [Sep 15, 2007]; S=3MB, 3072x2304; T=JPEG image [MIME:image/jpeg];
L=Estd:g:0.283W,51.4N{+/-0.03,0.03}
Rating: 58/100.
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