Bradford and Bingley - Treasury to intervene

bristolleedsfan

Tony_Webster wrote: »

You could also argue that we'll all lose out through even less competition in the High Street. I wonder how quickly the rate will be reduced on B&Bs Internet Saver ?

:T One of the reasons for all the loss leading Savings rates in the last 12 months has been financial institutions desperacy for funds, now their will be both one less savings provider + 20ish billion of deposits going straight into the coffers of ( if as is being reported) another bank(s), both these factors will have a downward effect on savings rates.

zyna

Hi I wonder if you can help me, I lost my husband a couple of years ago, have just got round to looking at how to protecxt my money (he always did this) last Tuesday looged onto the BB e-saver ref this site and on Friday the news hit! I wanted to spread my money around and intended to put 25K inbto the e-saver account, I need to send a cheque to open the account but have already gived Direct Debit details, can I now close this account ?

1882

Your money is safe!

linlin_3

Is it advisable to move savings away from B&B in the short-to-medium term?

bristolleedsfan

linlin wrote: »

Is it advisable to move savings away from B&B in the short-to-medium term?

Yes, if ud like a different answer to what has been continually posted on this thread. :rotfl: Otherwise NO.

dunstonh

bristolleedsfan wrote: »

Yes, if ud like a different answer to what has been continually posted on this thread. :rotfl: Otherwise NO.

ROFL.

Lets read the thread and totally ignore the posts and ask the same question again. You never know it may have changed in the last 5 minutes

julio69

dunstonh wrote: »

it will be business as usual. Your money is safe, as is the interest.

There are still bits unknown but one thing for sure is deposits (instant, direct, fixed term etc) are safe. You may find yourself using Northern Rock branches in future (insert Abbey or HSBC in there subject to how B&B is split up, which will become clearer in next few days) as the B&B brand is going to go, as will the branches but your money is fine.

The losers on this one will be the B&B shareholders and B&B staff.

Do you know anything about B&B International and what their position will be? I have offshore savings fixed rate bond with them. I know they are a wholly owned subsidiary - are their savers just as safe as the BBs are now?

sabretoothtigger

The losers on this one will be the B&B shareholders and B&B staff.

The whole industry is losing on this one I think the banks all invested in the rights issue

bristolleedsfan

sabretoothtigger wrote: »

The whole industry is losing on this one I think the banks all invested in the rights issue

+ The Underwriters are ( I believe) still sitting on the unsold rights issue shares. ( I wonder if Mr Darling gave them a guarantee that they wont lose anything either. :think: )

pizzagirl

julio69 wrote: »

Do you know anything about B&B International and what their position will be? I have offshore savings fixed rate bond with them. I know they are a wholly owned subsidiary - are their savers just as safe as the BBs are now?

I you read this thread you'd know the answer to that question. It's been answered about 20 times.