Time to get your money out?

[venator]

Spanish banks are now where Greek banks were a few weeks ago.

http://www.telegraph....tatement-in-full.html

Santander's UK operation could easily suffer, if the parent company takes cash from it.

[Old_Geezer]

It'd be nice to have some money to take out.

Unless you think they're going bankrupt, the time to get out would be when another is offering better deals. Santander still has to operate in the local market and seem attractive. But I accept if one has to cut back it'll like be the foreign investments that take the brunt. More a concern for their employees maybe.

[FredPuli43]

"They maintain the highest stand alone credit ratings among Spanish banks mainly because of their relatively stable earnings generation by their strong geographically diverse franchises" say Moody's. Well, that's a good thing. The rest is down to the status of Spain, and the EU, itself.

[DTCwordfan]

remember the FSA protects your 1st 50000 in there......

[factor-fiction]

Your money is protected unless you have incredibly huge sums all in one bank

[Dodger666]

The FSA protects up to £85,000 of your investment.

http://www.fsa.gov.uk...information/uk_groups

[pdq1]

Signs of Northern Rock at Santander banks where they queued round the block to get their money out.

[jno]

people can make withdrawals on the basis of panic rather than reality. Queues don't prove the bank is in trouble.

[venator]

Perhaps I should come back to this in 3 months or so ...

[ludwig]

I hope my overdraft is safe with Santander.

[infundibulum]

Maybe the Spanish banks don't pay Moody's :
"Part of the problem is that ratings agencies are funded by the very companies they rate."
http://www.guardian.c...tings-agencies-moodys

the same Moody's that were part of the rating agencies involved "In the run-up to 2008, a staggering proportion of mortgage-based debts were rated AAA, when in fact they were junk. The same goes for groups such as Enron, Lehman Brothers and AIG. Days before they went bust, Moody's, S&P, and Fitch all still rated these failing companies as safe investments."

These people are fit to manipulate our global economy?
http://www.telegraph....des-by-committee.html

[emmie]

jno, it did with Northern Rock. And it would appear the Greeks are taking their money out of the banks and sticking it under the mattress..

[ubasses]

Go further into the Telegraph and it tells you that the Bank in the UK is Firewalled and what's in the UK stays in the UK.

http://www.telegraph....ank-account-safe.html

[pdq1]

The difference between Greek banks and Nothern Rock is that Gordon Brown bailed it out with government money. Greece has no money so who will bail out Santander?

[bibblebub]

spain?

[pdq1]

I should have said Spain is going the same way as Greece. Junk status

[Mick-Talbot]

jno, it did with Northern Rock. And it would appear the Greeks are taking their money out of the banks and sticking it under the mattress..



Are you listening to too. Much scaremongering , em?

[emmie]

Mick
strange some have their head in the sand.

Is Greece's banking system headed towards collapse?

Earlier this week, Greek President Karolos Papoulias said that about 800m euros ($1.01bn) were recently withdrawn from Greek banks. "The strength of banks is very weak right now," said Papoulias, according to the Wall Street Journal.

[zebo]

Not necessary unless you have a very large amount in Santander, I suspect a lot of people are like us, their accounts became Santander when other institutions collapsed and were bought out. They're certainly utterly inefficient.
Slightly off the subject, how well publicised is the fact thet RBS have repaid almost all the Government money it was given? We do love bad news and ignore better news.

[craft1948]

My understanding is that Santander UK is a completely separate company to the spanish one, and they couldn't transfer assets between the two.

[infundibulum]

When 'good news ' is reported I am only too glad to see it - but not so glad if it is false 'good news' headlines.Not that I am saying the quote below is just 'good news' headlines, but certain questions should be asked to this -
"Slightly off the subject, how well publicised is the fact thet RBS have repaid almost all the Government money it was given? We do love bad news and ignore better news. "

Was it paid with interest in respect of inflation?

was it paid off with 'quantitative easing' money?

"Having the emergency loans repaid by RBS will not mean taxpayers have made all their money back as the government still owns an 81% stake in the bank, for which it paid £45.5bn.

The Treasury bought the shares at an average price of 50 pence each, which is double the current value."
from:
http://www.bbc.co.uk/news/business-17950957