Thursday, March 20, 2008

UK Banking System Looks a bit Wobbly

Bank chiefs to meet King

Bank of England governor Mervyn King is today meeting the heads of the country's five biggest banks - including HBOS, whose shares slumped yesterday after a series of false rumours spread by speculators swept through the stock market. HBOS will be joined at the meeting in Threadneedle Street by the other "Big Five" banks - HSBC, Royal Bank of Scotland, Barclays and Lloyds TSB. The bank chiefs are expected to call on King to pump more money into the financial system to ensure that banks cannot be brought down by a liquidity crisis.

Posted by quiet guy @ 11:31 AM (689 views)
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8 thoughts on “UK Banking System Looks a bit Wobbly

  • The Headmaster’s Ritual….

    Hope they are wearing thick underpants…

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  • @ quiet guy UK Banking System Looks a bit Wobbly

    reality Governor of central bank, meets commercial bank bosses in a scheduled meeting

    hey, whats a bit of spin amongst friends!!!

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  • Fools, when you submit an article on this site, there’s a section for you to fill in to comment on the headline yourself.

    You seem to be muddling the two. It’s a fair comment – if a single person’s rumour can spread panic selling of a major high street lenders shares, and a major lender has recently been nationalised to avoid bankruptcy, then I’d say the UK banking is rather wobbly!!

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  • Realty : Fools Rush In…………….

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  • planning4acrash says:

    So, yesterdays news was true, they are not only meeting with HBOS, they are infact meeting with the whole industry, and that is supposed to comfort? This is a green light to short banking, period.

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  • very good Plato, I like that one!!

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  • Fools,

    It’s good to hear a Devil’s Advocate view on this blog but I honestly don’t think that describing our banking system as “wobbly” is unfair at the minute. Sometimes, however, perhaps the doomists (me included) go a bit too far.

    I will be watching your posts with interest.

    Regards.

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  • Here’s a related story:

    http://www.independent.co.uk/news/business/news/banks-meet-boe-as-industry-jitters-persist-798598.html

    “The meeting was only called last week, however, and little in banking at present can be considered routine. Details of the meeting have not been released.”

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