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  • UK part-nationalises its major banks

    The UK is to invest £50bn ($85bn) to rescue its major banks, via part-nationalisation. In addition, it will provide unlimited amounts of cash via loans. The aim is to try and unfreeze the UK's banking system, which has been on the verge of collapse. Unlike the USA, there is no disagreement amongst...
    Posted to ICIS Blogs (Weblog) by Anonymous on 10-07-2008

  • UK's largest mortgage lender rescued

    Another day, another rescue. This time on the other side of the Atlantic. HBOS, the UK's largest mortgage lender, with a 20% market share, announced this morning that it was being rescued via a merger with the Lloyds TSB bank. The deal was brokered by the UK government. UK Finance Minister, Alastair...
    Posted to ICIS Blogs (Weblog) by Anonymous on 09-18-2008

  • UK government expects house price falls

    Yesterday the UK public had a rare view of what the government really thinks about future house price trends. Photographers snapped Housing Minister Caroline Flint arriving for a Cabinet meeting. And then journalists went to work on reading the notes in her hand. Contrary to official statements, it seems...
    Posted to ICIS Blogs (Weblog) by Anonymous on 05-14-2008

  • UK nationalises Northern Rock

    The UK government has today nationalised the country’s 8th largest bank, responsible for 18.9% of UK mortgage lending. You may remember that Northern Rock was an immediate victim of the US subprime crisis . Its funding model, based on securitisation, failed to work once lenders became more concerned...
    Posted to ICIS Blogs (Weblog) by Anonymous on 02-18-2008
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