Local authorities with deposits in Northern Rock building society have been assured by the Treasury that their money is safe. There were fears the multi-billion-pound run on the society, sparked by a shortage of funds on the international borrowing markets, would hit deposits held by authorities, if Northern Rock collapsed. Council finance chiefs feared the statement by chancellor Alistair Darling on the crisis did not make clear if their investment funds would be protected. But HM Treasury said wholesale investors, the term for institutional and businesses, would be given the same protection as individual savers.