Northern Rock’s share price fell 14 to 702p, despite an attempt to placate investors by revealing the extent of the bank’s exposure to mortgage-backed securities and collateralised debt obligations

Northern Rock had hoped to assuage investors' fears by revealing its total US mortgage and collateralised debt obligations-linked exposure is just £275m, or 0.24% of total reported assets. Only part of that is linked to the sub-prime market.