Bank ratings

nico26

How do I find out Citibank uk rating. I am looking to move from Isle of man to UK and citibank do dollar accounts

purch

Long Term Debt is Aa1
Short Term is P-1

According to Moody's

http://www.moodys.com/cust/default.asp

occamsrazor

purch wrote: »

Long Term Debt is Aa1
Short Term is P-1

Can anyone clarify what that means, to a layman?

I moved most of my USD back from Isle of Man to my Citibank UK USD account last week, still got some left with Kaupthing IOM... hoping that the SWIFT transfer for that still goes through... sigh.

Citibank don't pay great rates for USD, but apart from Kaupthing who paid a great 4.65% but which is no longer viable, no one does these days.

purch

P-1 is the highest rating for short term money.....i.e Cash on Deposit

Aaa is the highest rating for Long Term Debt....so Aa1 is the next level

For example Bradford & Bingley was rated P-3 for Cash on Deposit (just prior to the bailout)...........Nottingham BS, Cheshire BS, Derbyshire BS rated P-2

ICICI Bank (UK) is rated P-2 (and has been for a long time...long before the credit crisis)

However Landsbanki and Kaupthing were both still rated at P-1 for short term depsoits in the latest ratings which shows how badly wrong they can be