King Boosts New Stimulus Package to £300bn

HAMISH_MCTAVISH

Thrugelmir wrote: »

and both banks and their customers are in a far healthier financial state.

Nothing wrong with the financial state of most customers.

The banks, admittedly, are still screwed.

But given 75% of their total losses were in overseas lending, and that their mortgage lending losses in particular were 15 times greater from overseas mortgages than from UK mortgages, then it is demonstrably the case that UK lending was not the cause of their downfall.

So then it does seem to be incumbent upon government to fix the UK lending drought through exempting capital reserve requirements for a while. Which is what they're trying to do.

We'll see if it works soon enough.... or if the banks will yet again try to subvert the will of the regulators, the government and the people.

sabretoothtigger

when rates rise back to more normal levels.

Thrugelmir wrote: »

and both banks and their customers are in a far healthier financial state.

When rates rise they will still lag behind the rate of inflation making it still negative. It'll probably have to mirror the exceptional low rate now with a especially high one

Nikkster

Thrugelmir wrote: »

Marks and Spencer are joining the fray.

As with many business sectors. The phoenix rises from the ashes. As new entrants without the historic baggage are able to target profitable business.

Much of the old retail banking sector is in decline. Now that the heyday has passed.

From what has been announced so far, is the M&S bank not really just HSBC? But yes, I expect that to most people it will be seen as a new provider (and with perhaps more accessible opening hours).