Northern Rock

Nationalised lender Northern Rock has announced a £167.6m statutory before tax loss for 2007, a massive decline on the £626.7m profit recorded the previous year.

Northern Rock's former chief executive, Adam Applegarth, will be entitled to receive monthly payments of about £63,330 over the next 12 months as part of a severance package from the mortgage lender, despite the lender being taken into government ownership...

Government ownership of the failed Northern Rock bank could be exacerbating the liquidity crisis, according to New Star economist Simon Ward.

Leader of the Conservative Party David Cameron says the FSA lacks expertise in key areas and should not be in charge of rescuing banks.

The FSA will create a new supervisory taskforce to review its employees who are overseeing standards for high-impact firms.

The Financial Services Authority will tomorrow admit to a catalogue of errors in its handling of the Northern Rock crisis, The Telegraph reports.

Clive Briault, managing director of retail markets at the FSA, will leave the regulator at the end of April, it has been announced.

Alistair Darling today says Government action to nationalise beleaguered bank Northern Rock has "maintained confidence" in the UK banking system.

Northern Rock could be just £2bn short of repaying its loan from the Bank of England by this time next year, according to New Star economist Simon Ward.

Five of the seven FSA staff assigned to supervise Northern Rock have left the regulator, it has been announced.