Tuesday, May 15, 2012

Start of bank run?

Santander UK insists British savers' money is safe after Kent county council pulls overnight deposit account

Santander UK has laid out the safety measures it has in place to prevent potential difficulties at its Spanish parent spreading to its British customers. The bank moved to reassure UK customers after Kent County Council said it would no longer use the bank for overnight deposits after the Spanish government was forced to take measures to ensure the country's banks are safe from collapse.

Posted by mark @ 12:34 PM (2253 views)
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2 thoughts on “Start of bank run?

  • mark wadsworth says:

    Yeah! We haven’t had one of those for years!

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  • Years ago shortly after the banking crisis I remember posting a comment on the BBC’s Have Your Say saying people should get their money out of Halifax following some unsettling revelations about the extent of their credit binge. Although the comment broke none of the BBC website’s posting guidelines or rules, it was disallowed from being posted on the site – without any explanation. I asked the BBC news website about this and they simply didn’t respond.

    Two things strike me as curious about this. The first is that when the push comes to shove, the BBC is happy to censor the public’s expressions of the exercise of free market choice (i.e. to move money elsewhere). This is not that surprising. Secondly though, that talking about a bank run, or the possibility of one or even the utterance of a thought that one might occur is regarded as tantamount to sedition and wilful incitement.

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