We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Co-op bank
mudaleda
Posts: 3 Newbie
I have a small amount of savings in the Co-op Bank. Due to recent news should I transfer my saving out into another Bank?
Many thanks for any advice.
Many thanks for any advice.
0
Comments
-
I can't see any need to. Especially as they've just announced a plan to recapitalize it this morning making it safer.“I could see that, if not actually disgruntled, he was far from being gruntled.” - P.G. Wodehouse0
-
you may need a haircut - be careful
fj0 -
Savings are safe, it's the bond holders who get a Kojak.
What is really worrying about this tale, is the regulators again seem to be on the back foot. Co-Op negotiates with Lloyds for months? years? to buy all those branches, huge expansion etc etc, all the while being in dire financial straights with crap Britannia loans which the regulator only wakes up to a couple of weeks ago?
Can we REALLY trust the assertions that taxpayer bailouts will never be seen again if regulation is this poor?0 -
Only small bondholders may be subject to this, the OP is a depositor so this should not affect him at allbigfreddiel wrote: »you may need a haircut - be careful
fj0 -
-
The Treasury Select Committee is doing Co-op/Verde tomorrow. David Davis thinks the Treasury was pulling strings.What is really worrying about this tale, is the regulators again seem to be on the back foot. Co-Op negotiates with Lloyds for months? years? to buy all those branches, huge expansion etc etc, all the while being in dire financial straights with crap Britannia loans which the regulator only wakes up to a couple of weeks ago?
The BoE and PRA and FCA are all puppets. Question is though, who pulls the Treasury's strings?"It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
Savings are safe, it's the bond holders who get a Kojak.
What is really worrying about this tale, is the regulators again seem to be on the back foot. Co-Op negotiates with Lloyds for months? years? to buy all those branches, huge expansion etc etc, all the while being in dire financial straights with crap Britannia loans which the regulator only wakes up to a couple of weeks ago?
Can we REALLY trust the assertions that taxpayer bailouts will never be seen again if regulation is this poor?
The scary thing is, it seems to be the ratings agencies that realized something was up first :eek:“I could see that, if not actually disgruntled, he was far from being gruntled.” - P.G. Wodehouse0 -
The Treasury engineered the takeover of Britannia by the Co-op, and is still dead chuffed that this plan avoided a taxpayer bailout (unlike Dunfermline, where Nationwide drove a harder bargain and the Treasury had to put in a £900m guarantee).Can we REALLY trust the assertions that taxpayer bailouts will never be seen again if regulation is this poor?
So far as they're concerned, the manoeuvre is still a resounding success.
Voters are in favour of taxpayers not bailing out banks, saying banks should be allowed to go bust. Well this is what a bank going bust looks like.
Only a small one though, and not very bust. But the effect of the increasing capital requirements, enforced by assiduous regulation, will be to make bank failures more politically unpalatable than ever."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.8K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.6K Spending & Discounts
- 247.6K Work, Benefits & Business
- 604.6K Mortgages, Homes & Bills
- 178.6K Life & Family
- 262.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards