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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Mike Johnston who wrote (86291)	9/14/2007 8:49:34 AM
From: Paul Kern	Read Replies (1) \| Respond to of 110194

Didn't BOE officials just say the other day that they would not do bailouts ? They lied.

To: Mike Johnston who wrote (86291)	9/14/2007 11:05:29 AM
From: Paul Kern	Respond to of 110194

FSA Says Northern Rock Should Remain Open For Business Last update: 9/14/2007 11:02:34 AM LONDON (Dow Jones)--The Financial Services Authority, the U.K. market regulator, said Friday that Northern Rock PLC (NRK.LN) should continue to be open for business. Commenting on a statement made by the tripartite authorities Friday morning, FSA Chairman Callum McCarthy, said in a press release that: "The FSA's judgement on Northern Rock is that we believe it is solvent, meets all capital requirements and has a good-quality loan book. We are clear it should continue to be open for business. "More generally, it is important to remember that the U.K. banking industry has entered this period of severe market turbulence, after several years of very strong market conditions which have helped it build up healthy balance sheets and strong capital positions. "The FSA remains confident about the industry's ability to withstand current market pressures. We are in constant dialogue with firms to ensure that they are vigilant with regard to potential risks and continue to carefully monitor developments." Web Site: fsa.gov.uk -By Henry E. Teitelbaum, Dow Jones Newswires; +44 (0)207 842 9486; henry.teitelbaum.dowjones.com (END) Dow Jones Newswires September 14, 2007 11:02 ET (15:02 GMT)