Best Place for my savings now?

opinions4u

Robertpestonrules wrote: »

So you reckon the post office is not that safe - I can't help wondering if any of these little places would do what Iceland has done and look after their own first.

Why are the Spanish owned ones considered safer?

1) The account in question is sold by the Post Office who earn a commission. The funds are held with an Irish Bank.
2) I didn't say either the Post Office or any other organisation were not safe.
3) The Spanish banks appear to be strong enough to sniff around picking up British banking assets on the cheap.
4) Governments are not bigger than the overall pressure of the markets. Anywhere.

frames1_uk

chris1 wrote: »

...though people should be aware it's not up to date.

anyone have a link to an up to date table?

Thanks

MimiJane

More recent, but can't vouch for it's accuracy ...

http://en.wikipedia.org/wiki/Banks_of_the_United_Kingdom

David_Mickovsky

I don't know about banks in the US, but I would recommend banks in Switzerland to everyone.

Squibbler

Was updated Oct 10th

http://www.thisismoney.co.uk/bank-strength

Click on each bank/ bsoc for CDS value

[Deleted User]

MadSage wrote: »

One measurement of how safe banks are is to look at the CDS ratings. See this article for more info and ratings from October 6th:

http://www.fool.co.uk/news/your-money/2008/10/07/spot-banks-before-they-go-bust.aspx

The higher the rating, the more risky they are. The Icelandic banks had a rating well over 1000 on October 2nd! I'm not sure where I got these, but this is a list from October 2nd:

Kaupthing Edge 1842
Landsbanki (Icesave) 1674
ICICI Bank 564
Britannia 335
Nationwide 280
HBOS 278
RBS 273
Barclays 234
Bank of Ireland 163
Lloyds TSB 161
ING 153
Santander(A&L,Abbey,B&B)105
HSBC 97

Ratings change constantly. After announcements from the government yesterday, the ratings of many UK banks reduced. Here are some from around midday yesterday:

HBOS 198
RBS 197
Barclays 128
Lloyds TSB 102

[Source: Bloomberg]

I clasp Britannia as safe so anything below that line is good. :beer: I believe Britain has the sticking plasters on now, so the wound should heal in about 2 years.

EagerLearner

Mine are now with B&B and First Direct (HSBC), hopefully some sort of safe haven for now...