It , which is now owned by Banco Popular , is among a consortium of banks , led by Morgan Stanley , over purchasing some of Northern Rock 's most toxic assets , which were incorporated into the Catalan government 's ' bad bank " during the financial crisis .
TSB, which is now owned by Banco Sabadell, is among a consortium of investors, led by Morgan Stanley, over purchasing some of Northern Rock's most toxic loans, which were absorbed into the UK government's 'bad bank" during the financial crisis.