HBOS - what's happening?

GDB2222

Riq wrote: »

Oh god, you're not one of those panicers that hang around outside the bank to withdraw your money like Norther Rock :rolleyes:

I have a business account with BOS. They have always been pretty good service-wise, which I cannot say about Halifax. However, I do not expect that the business account would be a top priority for government protection in the event of a crash. I had built up quite a large balance, so I've transferred nearly all of it out, leaving enough in for day to day business needs.

Dithering_Dad

!!!!!!? wrote: »

Stock price doesn't dictate whether or not the bank will fold.

NR didn't have to be taken over because its stock was low, its stock was low because people figured it was in bad shape and could fold.

Whereas with HBOS, its stock is low because people think it's in a good shape and could never fold?

Cloudcookooland.

dopester

moanymoany wrote: »

I have a 12 month thing that they have today told me I cant touch it until it is 6 months old.

I have another account and tomorrow I'm going to get it out.

Today I put most of our cash into income bonds from NS&I.

Don't let my Grampian post sway you in any decision. It was simply to underline my own dislike for non-transparent balance sheets of the new world.

At least back in August 2007 the FT put the Grampian vehicle in to some context with a view that HBOS can easily absorb all of Grampian - although I don't know if there have been any substantial changes to their Tier One capital.

There are of course a host of other factors anyone has to consider, no matter what bank or building society they save with.

FT.com

Off-balance sheet woes raise wider concerns

Published: August 24 2007 03:00 | Last updated: August 24 2007 03:00

[snip...]However, such fears seem excessive. Analysts at Merrill Lynch estimate that if HBOS absorbs all of Grampian's assets, its Tier One capital, which stands at 7.7 per cent, will decline by 0.4 per cent.

The impact on other European banks is even smaller. Moody's believes large commercial banks should be able to take on all the assets currently in conduits - and potentially absorb some losses on those assets - without undermining their credit ratings.[...snip]

Nikkster wrote: »

S&P cuts HBOS plc to 'A+' from 'AA-'
http://www.iii.co.uk/news/?type=afxnews&articleid=6896075&action=article

Thanks. Useful read.

Core capital chart... although now quite a few months old, with RBS for example having made their move to recapitalise.

moanymoany

Dithering_Dad wrote: »

Whereas with HBOS, its stock is low because people think it's in a good shape and could never fold?

Cloudcookooland.

Don't DD, I put more than the £35k protected in there because I thought they were safe. And as it is a 12 month thing less than 6 months ago I can't touch it'

I console myself with the thoughts that I don't live in Zimbabwe or other hell holes - and I got most of the house sale proceeeds into NS&I today.

Chalk it all up to experience .........

alared

What are the best rates and account for NS&I

mewbie_2

alared wrote: »

What are the best rates and account for NS&I

I'm on commission...

http://www.nsandi.com/

BACKFRMTHEEDGE

GDB2222 wrote: »

HBOS share price down 50% over 2 days, which is way more than other banks. Surely, they are too big to (be allowed to) fail? Surely?

Just I have today withdrawn almost all that I had with them by CHAPS, but some of it will take nearly a week to clear.

I took out my money too (not that i had much:p) and it will show in my bank a/c tomorrow but takes five working days to clear. Wouldn't have bothered because I know it's safe really, just need to have instant access.

SouthCoast

I have a simple guide.

Do HBOS sponsor any football clubs?

Riq

If it folds I'll eat my own shoe.

amcluesent

IMHO the political question is whether Clown arranges for HBOS investors to lose everything, but depositors are OK by "doing another Crock".

We know the son-of-the-manse still burns with class-hatred after listening to sermons about the evils of the rich-man up the big hoose, ye ken. Hoots! But does he care for the effect on the millions of small invesors who have kept their shares from the Halifax privitisation?

Or would the failure of HBOS, far from creating a fire-break, actually start dominoes toppling until the BoE is the only 'bank' left standing in Britain?

A balanced portfolio - 20% spam, 20% bottles water, 30% gold, 30% bullets