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An Evaluation of the Northern Rock Failure 2007-2008

Ref: fin0020

The focus of this study is to gain insight into the justification of the UK’s Tripartite Standing Committee Lender of last resort (LLR) liquidity support to the Northern Rock given the oft cited risk of systemic collapse ensuing from bank failure. The sample includes 2 case studies; one from the Scandinavian banking crisis and one from the Japanese banking crises. The author investigates the causal mechanisms of failure, authority and regulatory prescriptions and post crisis economic costs in terms of GDP and welfare loss in these cases in order to determine the justification for the bail out of Northern Rock. Definitions of both the start and conclusion of systemic crisis are provided per Bordo et al. 2001. The objectives of this study are further:
  1. To understand the rationale for regulation in consideration of systemic financial collapse and its potential linkage to the Northern Rock case
  2. To understand the financial and economic consequences of authority intervention post LLR support to the banking industry and the domestic economy
  3. To understand how banks are involved in an economy to provoke lender of last resort (LLR) and support measures given negative externality and market failure arguments.

  • 14,000 words – 65 pages in length
  • Excellent use of literature
  • Good in depth analysis
  • Well written throughout
  • Interesting subject topic
  • Ideal for finance and business students


1 - Introduction and Objectives of the Study
Introduction and Objectives of the Study
The Purpose of the Study
The Organisation of the Study

2 - Research Methodology
The Methodological Approach: Case Studies
Focus of the Study - Undertaking the Research
Validity, Reliability and Scope of the Study

3 - Conceptual Framework
The Importance of Systemic Events and Contagion in This Study
Definition of Market Failure
Understanding of the Rationale of Banking Regulation

4 - Literature Review - a Discourse into the Justification of Regulatory intervention
The Debate on Bank Failure Approach
Lender of Last Resort Controversies
Contagion, Insurance and Moral Hazard

5 - The Post Economic Costs of the Scandinavian and Japanese Banking Crises
Scandinavian Banking Crisis
Japanese Banking Crisis


Chapter 6 - Conclusions and Recommendations:
Acting as LLR to Northern Rock – a Justifiable Reprieve

References

Appendices



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