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Co-Op Bank Down-Graded-- merged threads

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http://news.sky.com/story/1089124/co-op-bank-boss-quits-amid-moodys-downgrade

"Co-op Bank Boss Quits Amid Moody's Downgrade"

"But the departure comes just hours after the bank moved to reassure investors after Moody's said it may need "external support"."

Nothing to see here housing bears.

Edited by TheCountOfNowhere

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It warned that there was "moderate potential for systemic support likely to be forthcoming from the UK authorities".

More banker bailouts potentially required despite all the help they get!!!!!

Time to let one of them fail and regulate them.

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If there's a run at the Co-op this might be one that Gidiot let's go to test the £85k limit/bail-in.

It's not systemic and depositors are mostly scummy Northerners who didn't go to Eton so he won't give a t0ss.

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Hi

Interesting! I noted this quote:

"Peter Marks, the boss of the parent Co-operative Group, told Sky News last month that all lenders needed greater capital buffers and admitted it was more difficult for mutuals.

He told Sky's Jeff Randall Live: "Capital is clearly important. All banks now have to increase their capital buffers and we're no different."

Obvious answer, raise the interest rates to savers!

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If there's a run at the Co-op this might be one that Gidiot let's go to test the £85k limit/bail-in.

It's not systemic and depositors are mostly scummy Northerners who didn't go to Eton so he won't give a t0ss.

That is what I am thinking, just moved some money just in case :lol: As someone said though smile have been excellent for the over ten years I have banked with them, but they have to let one go at some point?

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Hi

Interesting! I noted this quote:

"Peter Marks, the boss of the parent Co-operative Group, told Sky News last month that all lenders needed greater capital buffers and admitted it was more difficult for mutuals.

He told Sky's Jeff Randall Live: "Capital is clearly important. All banks now have to increase their capital buffers and we're no different."

Obvious answer, raise the interest rates to savers!

And borrowers?

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Hi

Interesting! I noted this quote:

"Peter Marks, the boss of the parent Co-operative Group, told Sky News last month that all lenders needed greater capital buffers and admitted it was more difficult for mutuals.

He told Sky's Jeff Randall Live: "Capital is clearly important. All banks now have to increase their capital buffers and we're no different."

Obvious answer, raise the interest rates to savers!

but, we have several GOVERNMENT SUPPORTED banks that can prevent competition for the capital the banks need.

So Co-op et al raise their rates.....they lose new business on loans, savers will become more at risk, meanwhile, the ZOMBIES can attract all the money they need as they ARE government backed, AND they can lend cheaper.

ZOMBIES are killing us......

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If there's a run at the Co-op this might be one that Gidiot let's go to test the £85k limit/bail-in.

It's not systemic and depositors are mostly scummy Northerners who didn't go to Eton so he won't give a t0ss.

1 in 10 people have accounts here?....not systemic?

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1 in 10 people have accounts here?....not systemic?

I need to check if I have money with Britania...it will be coming out tonight if I have.

funnilly enough I will move any emergency cash to the Northern Rock for safety :lol:

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I have a couple of hundred with Britannia, phone account.

Had a statement earlier this week, and just rang to transfer the money to my linked current account to close it.

They refused, because they said my account had been frozen as I had not used it for awhile. :o

I said, that is ridiculous as I had just had a statement.

I asked to speak to manager, they said he was not there.

So I said I would go into branch, and they said I would need to take ID, and a utility bill to get at the money.

I am now wondering if I will be able to get at this money today?

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I need to check if I have money with Britania...it will be coming out tonight if I have.

funnilly enough I will move any emergency cash to the Northern Rock for safety :lol:

we use the co-op for current accounts...if it all goes TU before 22nd, then the LL is going to be dissappointed.

and here we are, just a fornight ago, this bank was going to shell out millions for all those branches....and yet nobody had a clue then.

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1 in 10 people have accounts here?....not systemic?

I am in the 1/10. Though it really is a wonder I have stuck with the Britannia this long since they gave up on competitive rate years ago. Has been less competitve than Nationwide, Northern Rock, Halifax and reinvesting in NSI certificates.

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BBC Reporting downgrade is to JUNK status:

http://www.bbc.co.uk/news/business-22477745

"Ratings agency Moody's has downgraded the Co-operative Bank's debt rating to "junk" status, citing fears that it is vulnerable to potential losses."

I'll best check if I still have money in Britannia before the rush starts....

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I'll best check if I still have money in Britannia before the rush starts....

If you have, hope you have better luck getting at it, than I have had this morning.

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As noted on the RBS thread, the BOE 'stress tests' in March concluded that all British banks were under provisioned:

The primary finding was that the country’s largest banking institutions were overstating regulatory capital by as much as £52 billion ($79 billion), as the reserves for loan losses and other fines/charges were grossly insufficient.

BOE estimates that banks in the U.K. will need to raise between £12-13 billion ($18-20 billion) in fresh capital to ensure a Basel III capital ratio of 7% at the end of 2013 after adjusting for the over-statements. (About half of this figure has to be raised by RBS).

By the way, isn't the Co-op loan to the Labour Party 'non-performing' ?

A couple of years ago, the Labour Party was not far short of bankruptcy.

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BBC Reporting downgrade is to JUNK status:

http://www.bbc.co.uk...siness-22477745

"Ratings agency Moody's has downgraded the Co-operative Bank's debt rating to "junk" status, citing fears that it is vulnerable to potential losses."

I'll best check if I still have money in Britannia before the rush starts....

Of course, this is about OWNERSHIP of the banks shares and bonds.....many banks make losses, it doesnt mean that depositors are at risk any more today than they were yesterday.

The issue is now one of image.

Moodys apparently called the debt "not prime"...the BBC translated this as JUNK.....sounds like someone is very very upset at the no sale of the branches 2 weeks ago.

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A couple of years ago, the Labour Party was not far short of bankruptcy.

Can't manage their own balance sheet and we will let this lot loose on the Nation's balance sheet in 2015. But with spending equalling social justice you really wouldn't expect anything else from the left.

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  • 244 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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