It has been reported that FSA officials pushed the BoE to offer an emergency loan to Northern Rock weeks before the crisis came to a head, however the BoE refused to step in.
Northern Rock believe that if help had been available sooner, they could have averted the crisis which saw anxious customers queueing outside branches across the country to withdraw their savings.
However, offering support to Northern Rock in this way was initially seen by the Bank to be sending out the wrong signals, possibly encouraging the sector to continue taking excessive risks.
It looked like there was a chunk of light at the end of the tunnel this morning after the share price crept back up, however it came crashing back down mid-morning after increased speculation of a buyout at a discount.
Savers are now returning to the bank, with 80 per cent of current enquiries coming from savers looking to return their deposits.
