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LLoyds bank and Nationwide downgraded
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Ratings agencies are just opinions. I think the compensation scheme is actually ultimately funded by the banks themselves in proportion to the retail deposits they take off the highstreet.
So if Nationwide is that unstable then HSBC might kick up a fuss about their actions but Im not sure how they would lose protection apart from having their banking license withdrawn which is what occurred with B&B I think0
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