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Today in History: Northern Rock bailout sparks UK's first bank run

By Drooid · Sep 14, 2026, 10:35 AM UTC · How we work

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In September 2007, amid the global credit crunch, the Bank of England opened its discount window to lend to Northern Rock after the lender’s mortgage-backed-securities market froze. The announcement sparked panic withdrawals, producing the United Kingdom’s first bank run in 150 years.

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Story summary

In September 2007, amid the global credit crunch, the Bank of England opened its discount window to lend to Northern Rock after the lender’s mortgage-backed-securities market froze. The announcement sparked panic withdrawals, producing the United Kingdom’s first bank run in 150 years.