One response to the 2007 financial crisis was to nationalise a number of banks, including Northern Rock, and part-nationalise others, including the Lloyds Banking Group and Royal Bank of Scotland (RBS).
In September 2007, news broke on the BBC that Northern Rock needed financial support from the Bank of England and consequently the first run on a UK bank in 150 years ensued. Queues of customers waited outside Northern Rock branches. Two unsuccessful bids to take over the bank ended in the government taking it into public ownership in February 2008. Later that year, RBS and the recently merged HBOS Lloyds and TSB were part-nationalised with public ownership at 70% and 43% respectively.
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