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| Northern Rock cuts savings deals | Northern Rock cuts savings deals |
| (40 minutes later) | |
| Northern Rock has withdrawn a number of savings deals to new customers to ensure it does not abuse any competitive advantage. | Northern Rock has withdrawn a number of savings deals to new customers to ensure it does not abuse any competitive advantage. |
| The nationalised bank is one of few financial institutions that has a 100% guarantee for the safety of customers' savings, as it is government-backed. | The nationalised bank is one of few financial institutions that has a 100% guarantee for the safety of customers' savings, as it is government-backed. |
| On Thursday, it said that it had seen a "sizeable inflow" of deposits in recent days owing to financial turbulence. | |
| It must cap its market share of UK retail deposit balances at 1.5%. | It must cap its market share of UK retail deposit balances at 1.5%. |
| This commitment was made as part of the nationalisation deal. | This commitment was made as part of the nationalisation deal. |
| Savings shift | Savings shift |
| There have been widespread reports of savers moving their savings to financial institutions regarded as secure. | There have been widespread reports of savers moving their savings to financial institutions regarded as secure. |
| Each and every government does have an ability to take certain actions themselves, but they must have a look at the broader competitive framework as well Angela Knight, BBA | |
| National Savings & Investments has a 100% guarantee, in the same way as Northern Rock. | National Savings & Investments has a 100% guarantee, in the same way as Northern Rock. |
| A spokeswoman for NS&I said its call centre had seen "in increase in volumes of calls" in the last few weeks, but did not provide figures to show the level of the increase. | |
| The Anglo Irish Bank said it had received a lot of calls from savers after the Irish government said on Tuesday that it would guarantee all of savers' deposits in six savings groups. | The Anglo Irish Bank said it had received a lot of calls from savers after the Irish government said on Tuesday that it would guarantee all of savers' deposits in six savings groups. |
| In the UK, only the first £35,000 is guaranteed but Prime Minister Gordon Brown said this was planned to be raised to the first £50,000. | In the UK, only the first £35,000 is guaranteed but Prime Minister Gordon Brown said this was planned to be raised to the first £50,000. |
| The British Bankers Association said that official figures for the flow of money out of accounts on Wednesday would not be available for another 10 days. | The British Bankers Association said that official figures for the flow of money out of accounts on Wednesday would not be available for another 10 days. |
| UK payments association Apacs said on Wednesday that no significant peak has been spotted on transactions through the Chaps transmission service. | UK payments association Apacs said on Wednesday that no significant peak has been spotted on transactions through the Chaps transmission service. |
| This service allows money to be transferred from one account to another in a day and is generally used for large sums of money. | This service allows money to be transferred from one account to another in a day and is generally used for large sums of money. |