Is Halifax HBOS going bust

MrHelpful

Just been thinking about this after the 10pm news and I am think this is def a possibility as they are very reliant on mortgages and the lending market.. I have a bit of money with them - may be wise to spread it wide in the current market esp with the poor service Halifax is showing to current customers.

pumpndump

Don't think they will go bust, although they are having a hard time because, as you have already observed, they have been lending too much mortgagewise. Having said that, we are living in what the Chinese call "interesting times", and anything can happen. You would be wise to spread your money in different things and different places.

superstar_2

If you have less than £35K, you're safe! If everyone withdraws money because of this hype - then, yes they will go bust cos there is no savers' money left.

[Deleted User]

Effect of Lehmans collapse -

$463 million Aozora Bank (Japan)

$289 million Mizuho (Japan)

$275 million Citibank (Hong Kong)

$250 million BNP Paribas (France)

$231 million Shinsei Bank (Japan)

$185 million UFJ Bank (Japan)

$177 million Sumitomo Mitsubishi Bank (Japan)

$140 million Svenska Handelsbanken (Sweden)

$100 million KBC Bank (Belgium)

$93 million Mizuho Corporate Bank (Japan)

Largest UK creditors

$77 million Standard Chartered

$75 million Lloyds Bank

Source: Reuters

More lies being spread, HBOS isnt affected by Lehmans, Llyods TSB is affected by peanuts.

dunstonh

Yant, Norwich Union published today that they were in for £270 million.

super_dad

Yant1 wrote: »

Effect of Lehmans collapse -

$463 million Aozora Bank (Japan)

$289 million Mizuho (Japan)

$275 million Citibank (Hong Kong)

$250 million BNP Paribas (France)

$231 million Shinsei Bank (Japan)

$185 million UFJ Bank (Japan)

$177 million Sumitomo Mitsubishi Bank (Japan)

$140 million Svenska Handelsbanken (Sweden)

$100 million KBC Bank (Belgium)

$93 million Mizuho Corporate Bank (Japan)

Largest UK creditors

$77 million Standard Chartered

$75 million Lloyds Bank

Source: Reuters

More lies being spread, HBOS isnt affected by Lehmans, Llyods TSB is affected by peanuts.

no, you're wrong. A large part of HBOS will be affected by lehmans. almost 40% in fact, if you believe what you read in the times and the daily mail... which you should.

gaol

I guess you watched ITN. You might as well read The Sun for serious economic analysis.

HBOS would not be allowed to go bust; if it did the economy would be in meltdown. Can you imagine the effect on the UK economy of the biggest retail savings bank suddenly swallowing up every depositors money?

Someone needs to have words with those journalists, the panic they are helping provoke could have serious consequences. The BBC handled it much better.

ian-d

Agreed, the suggestions is that HBOS, who hold 20% of all UK mortgages are too big a institution to go under, and the government once again would need to step in to save them from going down, as the consequences would be severe.

dunstonh

The Govt would more likely let HSBC or LTSB take them over.

oldsport

ian-d wrote: »

Agreed, the suggestions is that HBOS, who hold 20% of all UK mortgages are too big a institution to go under, and the government once again would need to step in to save them from going down, as the consequences would be severe.

more importantly perhaps they hold almost 20% of peoples bank savings - £250bn out of total of £1.1 trillion

unimaginable consequences if they go bust

will be taken over first with some help from the government

stevetodd

gaol wrote: »

I guess you watched ITN. You might as well read The Sun for serious economic analysis.

HBOS would not be allowed to go bust; if it did the economy would be in meltdown. Can you imagine the effect on the UK economy of the biggest retail savings bank suddenly swallowing up every depositors money?

Someone needs to have words with those journalists, the panic they are helping provoke could have serious consequences. The BBC handled it much better.

Are you sure about this because the Beano and Dandy are saying the same things, surely the Beano, Dandy and News at Ten can't all be wrong can they