Following financial difficulties in September 2007, Northern Rock was granted emergency rescue aid by the UK Government. The assistance granted by the Bank of England on 14 September 2007, which was secured by collateral and included interest, was found by the European Commission (Commission) not to constitute State aid. However, further measures granted on 17 September and 9 October comprising a guarantee on deposits, additional liquidity assistance and a Treasury indemnity did fall within the State aid regime. The Commission announced on the 5 December 2007, that this aid complied with Community Guidelines on State aid for rescuing and restructuring firms in difficulty. The UK Government is now required to submit to the Commission by 17 March 2008, either a restructuring plan for Northern Rock or confirmation that the aid measures have ended. If the UK Government plans to grant further aid measures to Northern Rock, these will have to comply with the rules on restructuring aid and be approved by the Commission.