LONDON, Sept 17 (Reuters) - The following is a round-up of
leading stories on Northern Rock NRK.L published in British
newspapers on Monday.
The Financial Times
Northern Rock and its regulators are this week expected to
try again and sell the mortgage lender after it was bailed out
by the Bank of England. The FT says any renewed interest will
depend on whether Northern Rock's business can be stabilised.
The Times
An attempt to organise a takeover of Northern Rock is under
way as regulators, government and bank officials seek to rescue
Britain's fifth-largest mortgage lender before panic among its
customers leaves it beyond salvage.
Daily Mail
Mortgage lenders have been ordered to prove they are solvent
amid fears of a Northern Rock domino effect. The Financial
Services Authority has launched a probe to discover which other
banks could be toppled and those considered at risk by the City
watchdog have been challenged to show they are secure.
The Daily Telegraph
The Bank of England has given potential bidders for troubled
Northern Rock a green light, pledging to leave the emergency
funding agreed last week in place.
The Guardian
Northern Rock could be broken up and sold piecemeal after it
emerged that the City's financial regulator blocked a backdoor
bid by Lloyds TSB (LLOY.L) to buy the ailing mortgage bank. The
break-up of Northern Rock may come within weeks rather than
months. Lloyds is expected to re-enter the fray, though HSBC
(HSBA.L) is considered a more potent predator for parts of
Northern Rock's business.
The Independent
Fears are growing for the jobs of Northern Rock's 6,500
staff as the stricken bank prepares for another day of mass
withdrawals and its future as a viable business hangs in the
balance.
Bonds
