Breaking News: Ing

cwcw

http://news.bbc.co.uk/1/hi/business/7679021.stm


Dutch banking and insurance company ING is to receive a cash injection from the government of the Netherlands.
The move follows a weekend of meetings with Dutch finance officials, after ING revealed it expects to make a 500m euro ($670bn) loss for the third quarter.
Details of the deal would be released later on Sunday, officials said. The Dutch government has pledged to make 20bn euros available to protect the financial sector from the effects of the global credit crisis.



I thought ING was meant to be safe?

Bear in mind....... ING Direct is covered by the "passport scheme" so if they go under, you will have to claim in a similar way to Icesave victims.

opinions4u

Why did you choose to use the words "in trouble"?

Sums involved are significantly less than the British banks are involved with.

What was wrong with "ING supported by their government too?".

Just a thought on responsible discussion.

jingle68

all banks are in trouble. its people like you that cause panick with thread titles like this one.

ING savings are protected under the Dutch scheme not the 'passport' scheme. £77k approx is protected.

LardyCake

Agree with you opionions4u. The thread title is unnecessarily scaremongering.

@cwcw - please consider changing it.

agsnu

jingle68 wrote: »

ING savings are protected under the Dutch scheme not the 'passport' scheme. £77k approx is protected.

It is the so-called "passport" scheme which allows ING savings to be protected under the Dutch compensation scheme rather than the UK one. Your statement makes no sense.

Former_MSE_Andrea

Evening all!

So everyone, including the OP, knows I've changed the title to say just "Breaking News: ING". If anyone has a problem with that feel free to let me know.

Andrea

dillydilly

just tried to withdraw £3k from my Kaupthing Edge account - on two different computers its not moving on from the Confirm Withdawal page sadly. Hopefully just a Sunday glitch, but I remember reading a similar message on here on the Sunday evening before the Icesave episode. Hey ho, here we go again...

equitydealer

What could happen now is that UK depositors start an online run on the bank further weakening their capital position. All depends on how the media report this...Mr Peston...over to you

baby_boomer

This is excellent news from ING .

The more capital, the better.

Joe65_2

Perhaps a bit late to be asking but, foreign deposit guarantees notwithstanding,:-
Is that £2.5 bn or so of Kaupthing saver's cash, in any way 'ring fenced' ?
Or is it just mixed in with all the other cash that ING have (or haven't) got ?

meanmachine_2

Yep, great news.

Should strengthen an already strong bank...

*quietly withdraws money from account, prays it isn't another Icesave*