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Northern Rock

Volume 464: debated on Thursday 11 October 2007

To ask the Chancellor of the Exchequer if he will set out the terms on which he has engaged Goldman Sachs to advise him on Northern Rock. (155741)

[holding answer 8 October 2007]: Goldman Sachs has been jointly engaged by HM Treasury and the Financial Services Authority to advise on the implications of the announcement made on 17 September that, should it prove necessary, HM Treasury, with the Bank of England, would put in place arrangements to safeguard existing depositors of Northern Rock.