UK Clearing bank in trouble?

tawse57

http://www.citywire.co.uk/News/NewsArticle.aspx?VersionID=101479

Which ones are the clearing banks - HBOS, HSBC, Barclays, Lloyds? Or are they just the big four?

dunstonh

The high street banks are known as retail banks. The use of the term clearing bank would suggest it isnt one of the retail banks but a more obscure bank.

However, it is a media article so incorrect use of terminology is common place so it could mean anything. However, given the results published so far, it is unlikely to be any of those.

Speculator

The big four High Street clearing banks are

RBS, Barclays, Lloyds and HSBC

kathleenryd

these are all clearing banks

K

purch

I hate to disagree with Duns...........but

A Clearing Bank means a Bank that can clear checks and therefore is will be a member of the London Bankers Clearing House. (Cheque and Credit Clearing Committee)

There are 11 of them; (non obscure)

The Bank of England, Abbey, A & L, HBOS, Barclays, Clydesdale, Co-Op, HSBC, Lloyds TSB, RBS.

If the rumour had any credibility then the FTSE 100 would be down a load more than it is currently.

P.S. To clarify the non-clearing (obscure) Banks in the U.K. are referred to as 'Agency' Banks when it comes to clearing cheques

Jonbvn

I wonder if this is related?
HBOS shares plunge

Shares in Halifax-owner HBOS crashed 9.5pc by late morning after the high street bank was hit by the higher funding costs of the credit crunch and warned of an "uncertain" outlook for 2008.

dunstonh

I hate to disagree with Duns...........but

A Clearing Bank means a Bank that can clear checks and therefore is will be a member of the London Bankers Clearing House. (Cheque and Credit Clearing Committee)

I did actually post something similar to that to begin with. However, I changed it to my current text. The reason for that is if it was one of the high street banks you would expect to see the term retail bank (or high street bank if BBC )to describe them. The use of the term clearing bank instead of retail bank didnt seem to fit as its more likely to be a retail bank that is in trouble. Of that list though, A&L are the weakest. Although the HBOS results may just be starting rumours and stockmarkets dont like rumours.

purch

...or it could be one of the Northern Irish Clearers, who are part of a different Clearing House, there are 4 of them but I can only think of Bank of Ireland, Ulster Bank and Northern Bank, so maybe it's whoever the 4th one is

Jonbvn

Torygraph are saying it is just wild rumours.

http://blogs.telegraph.co.uk/business/marketforces/february2008/bigbankchangehandsasrumoursabound.htm
There are wild and completely unsubstantiated rumours flying round the market of a bank in trouble and speculation that the Bank of England may inject emergency funds into the market. Traders are very sceptical of this talk.

YorkshireBoy

purch wrote: »

...so maybe it's whoever the 4th one is

First Trust?

martinman3

purch wrote: »

There are 11 of them; (non obscure)

The Bank of England, Abbey, A & L, HBOS, Barclays, Clydesdale, Co-Op, HSBC, Lloyds TSB, RBS.

Did you leave Nationwide BS out of the list because it is not a "bank" or because you think it is obscure ?