New plans for a state-guaranteed securitization and potentially retained equity or windfall taxation are being discussed as measures to save Northern Rock. This is yet another addition to the long list of proposals to come to the rescue of the British mortgage lender without imposing too much taxes on U.K. citizens.

The U.K. Treasury posted on its Web site guidelines for proposals for the government-guaranteed securitization. It stated that the new financing structure will be available only for proposals that both look out for taxpayers' interests as well as tend to consumers' financial stability and protection.

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