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Moody's Puts ING's Ratings On Review For Downgrade
Paul_Herring
Posts: 7,484 Forumite
http://online.wsj.com/article/BT-CO-20090921-708441.html
Unrelated to why it's happening, but background as to why it matters to UK savers:
http://www.thisismoney.co.uk/markets/article.html?in_article_id=490972&in_page_id=53946&ito=1565
Moody's Investors Service put its ratings on ING Groep NV (ING) and its bank and insurance companies on review for possible downgrade after the European Commission said last week it is extending its antitrust investigation into the Dutch government's support for the troubled bank.
The ratings agency also continued to express concern about loan losses pressuring ING's earnings and capital levels.
Unrelated to why it's happening, but background as to why it matters to UK savers:
http://www.thisismoney.co.uk/markets/article.html?in_article_id=490972&in_page_id=53946&ito=1565
The bank dramatically purchased approximately 160,000 Kaupthing Edge-branded online savings accounts, worth £2.5bn from failed Icelandic bank Kaupthing last year when fears were high the savings deposits would be irretrievable.
It also purchased £538m in 22,000 UK savings accounts from Icelandic bank Heritable and is believed to have more than a million UK savers with its own online bank, ING Direct.
Conjugating the verb 'to be":
-o I am humble -o You are attention seeking -o She is Nadine Dorries
-o I am humble -o You are attention seeking -o She is Nadine Dorries
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The bank dramatically purchased approximately 160,000 Kaupthing Edge-branded online savings accounts, worth £2.5bn from failed Icelandic bank Kaupthing last year when fears were high the savings deposits would be irretrievable.
It must be the 7%+ they are paying me on the fixed rate accounts, which were originally held with KE.In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:0
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