what's the chances of ICESave going bust!?

ReportInvestor

In that case I would definitely argue that Landsbanki and ICICI have affected the UK mortgage market as well as the savings market.

roswell

Or it could be that banks believe that the good times are going and the bad times are on there way.

ReportInvestor

Would the banks/BSs want to accelerate the risk of bad debts if they had a choice?

I suppose they might collectively think that putting up mortgage rates by the full amount over this rise (and the next one?) they might prevent a third rise.

But I tend to think that banks/BSs are more preoccupied by their own individual place in the mortgage/savings market over a short period of time.

prudryden

See previous post on this thread.

ICICI Financial Strength Rating was raised to C-, from D+ by Moodys in July 2006. The D+ rating was taken from a report dated February 2006.

whambamboo

LizEstelle wrote:

I made a factually correct statement.

My 'motive' is an honourable one - although it doesn't play well in certain quarters...

no it doesn't.

just to clarify because LizEstelle is attempting to slander Icebank's good name, the withdrawing of all funds has nothing to do with Icesave's qualities as a bank, but is based on the fact that Icebank comes from Iceland, and Iceland (along with Japan) as a country allows whaling.

Hopefully this tedious dicussion about this will not be re-started.

roswell

ReportInvestor wrote:

Would the banks/BSs want to accelerate the risk of bad debts if they had a choice?

I suppose they might collectively think that putting up mortgage rates by the full amount over this rise (and the next one?) they might prevent a third rise.

But I tend to think that banks/BSs are more preoccupied by their own individual place in the mortgage/savings market over a short period of time.

I agree with the Third rise option But also thinking along the lines of impact of bank charges reclaims and other factores like increased swap rates that they now NEED to make the full change instead of taking a hit on the chin for the customer.

ashm1

I've had a look at the Lanbanksi credit rating. Not good!

Currency carry trade!

http://www.sedlabanki.is/?pageid=201

Icelandic economy in 2009? :rotfl:

Building up non-Icelandic assets fast ..... http://news.bbc.co.uk/1/hi/magazine/6170062.stm

Anyway you are FSA protected. Anyone know how long it takes to get your money back when a bank go's under ?


Thanks,

Ash.