The so-called "bad banks" of Northern Rock (now NRAM) and Bradford and Bingley (B&B) plan to merge. The move is designed to cut costs and bring greater efficiencies for the UK taxpayer, who owns both businesses. They are set to be brought under one holding company with a single management team, although there is no firm timetable to complete the plan. Bradford and Bingley and Northern Rock were split into "good" and "bad" parts in the aftermath of the banking crisis. The change will not affect customers of the two businesses, who should carry on mortgage payments as normal.