Citigroup bankrupt - Barclays next - where is safe?

abaxas

Sorry for the rather downbeat post... but this is a serious question.

It took my father over a month to get money out of his internet only NR account, so the question is...

Where is currently safe? From what the press are saying, HSBC and Lloyds appear to be 'safe'. Any others?

purch

Citigroup bankrupt

It's hard to take the post seriously with a headline like that !!

Biggles

Why did your father want to take his money out of NR? Was it over £100,000?

exel1966

abaxas wrote: »

but this is a serious question.
quote]

Then perhaps put a serious title to it rather than utter !!!! :rolleyes:

mroller

abaxas wrote: »

Sorry for the rather downbeat post... but this is a serious question.

It took my father over a month to get money out of his internet only NR account, so the question is...

Where is currently safe? From what the press are saying, HSBC and Lloyds appear to be 'safe'. Any others?

NR accounts are the safest ones at the moment as they are backed by the treasury.

abaxas

Biggles wrote: »

Why did your father want to take his money out of NR? Was it over £100,000?

Better rates elsewhere. No point having no access to your money and getting a worse return!

PBA

abaxas wrote: »

Where is currently safe? From what the press are saying, HSBC and Lloyds appear to be 'safe'. Any others?

Despite being a tiny bank holding a tiny percentage of the nation's savings, the govt still thought it was important enough to bail out. The govt/bank of england have shown their cards, they aren't going to let a bank go down the tubes if it means lots of ordinary Brits lose their savings.

Basically, any high street bank doing business today is as safe as any other, it's not something ordinary consumers need to worry about.

globevestor

Most banks have exposure in derivatives. You can use this letter template to ask your bank whether the bank has exposure in derivatives.

purch

Evaluated by computer assumptions made by geek, non market experienced mathematicians who assume religiously that all markets return to their normal relationships regardless of disruptions

:rotfl: :T :rotfl:

EdInvestor

Hello globevestor.

I see you have an advertising link in your signature, which is not allowed on this site.

benood

globevestor wrote: »

Most banks have exposure in derivatives. You can use this letter template to ask your bank whether the bank has exposure in derivatives.

If most banks have exposure to derivatives surely this is just a total waste of time.

All the bank will do is reply positively - so what have you achieved exactly?