Exodus of Northern Rock savings feared
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Fears grew on Saturday that panic among savers at British bank Northern Rock will see a run of withdrawals after reports that 1 billion pounds ($2.01 billion) had already been taken out.
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Government financing triggers move but Treasury says Northern Rock has not been nationalised
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The troubled Northern Rock bank extends its opening hours to cope with customers wishing to withdraw savings.
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Northern Rock was braced for another day of chaos at its branches on Tuesday, despite a government promise that it would protect customer savings.
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Northern Rock says it is in talks about 'a variety of potential transactions' but has cancelled its dividend.
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Northern Rock will hold an emergency meeting for shareholders on its sale process on 15 January.
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Northern Rock says it has not yet had to borrow emergency Bank of England cash, as savers are urged not to panic.
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Fears grew on Saturday that panic among  savers at British bank Northern Rock  will see a run of  withdrawals after reports that 1 billion pounds had already  been taken out.
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Business & money: Biggest share falls since height of credit crunch after US bank's $18bn write-off and Rock uncertainty grows
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The Bank of England has offered an emergency loan to Northern Rock after the mortgage lender became the biggest British casualty of the credit squeeze sparked by the crisis in the U.S. subprime mortgage market.
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Business & money: Three lenders pull 'irresponsible' mortgages after Northern Rock comes under fire over similar deals
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The nationalisation of Northern Rock looks less likely after the government decides on financial support.
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Bailed-out British bank Northern Rock was hoping Sunday its attempts to reassure panicking customers would pay off as the lender tried to avoid falling victim to the global credit squeeze.
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Shares in banks fall throughout Europe as savers withdraw money from British lender Northern Rock.
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Northern Rock faced another day of customers withdrawing their savings and share price drops on Monday after an emergency bail-out from the Bank of England last week.
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The board of Northern Rock is considering mounting a rescue plan to save the ailing British bank from nationalisation or takeover, the Sunday Times reported.
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The board of Northern Rock  is considering mounting a rescue plan to save the ailing British bank from nationalisation or takeover, the Sunday Times reported.