Withdrawals at Santander UK amid Spain fears -

[lol-lol]

Seems to have started over here too:-

By James Hall, and Philip Aldrick 7:32PM BST 18 May 2012 - Daily Telegraph

=================================================================

Withdrawals at Santander UK amid Spain fears

Customers with large deposits have started withdrawing cash from Santander, the bank has admitted, as it tried to reassure concerned members of the public that their money is safe.

The high street bank also saw an increase in enquiries by worried savers to its call centres and in its 1,380 branches across Britain yesterday. Customers are worried that the bank will be dragged into the eurozone crisis because it is owned by Spain’s Banco Santander. On Thursday, Banco Santander, its UK subsidiary and 15 other Spanish banks had their credit ratings downgraded due to their exposure to the struggling Spanish economy. The Spanish banks were hit with more bad news yesterday, as official figures showed bad debts had risen to their highest level in 18 years.

However, shares across the sector shrugged off the concerns to rally strongly, as treasury minister Inigo Fernandez de Mesa said there was little reason for concern as “Spanish banks have plenty of liquidity”. Lenders have about two years of funding, due to the European Central Bank’s emergency support. Spain is expected to announce shortly that the fund manager BlackRock and consultants Oliver Wyman will conduct an independent audit of the banks as part of month-long stress tests. Their remit will be to assess how much of the €600bn (£483bn) of mortgage debt needs to be written down. The government will make public the findings of the two-stage audit in an attempt to end speculation about concealed risk. Goldman Sachs has been drafted in separately to assess how much capital Bankia needs, with analysts suggesting the taxpayer could be on the hook for between €12bn and €15bn of new equity.

====================================================

Edited 19 May, 2012 by lol

[john999boy]

Even though they share the same name, Santander (UK) is a totally different entity.

[D15VRS]

Also your monies are covered upto the measly sum of £80,000 :-) so if you are the average Guy with £79,999 your monies are safe. My £15.70 is not under threat.

[jrw]

Will you quit with the ======== breaks in all your threads. Have you tried viewing threads like this on a mobile site?

You'd better get all your tax evaded money out quick then hey....

[Babs]

jrw - it's what happens when you copy and paste from other sites rather than just linking to the articles...

[jrw]

jrw - it's what happens when you copy and paste from other sites rather than just linking to the articles...

Ah ok, i hadn't seen it before on other posts so thought it was lol putting them in, I will have to post on Site issues then!

[FUBAR]

Also your monies are covered upto the measly sum of £80,000 :-) so if you are the average Guy with £79,999 your monies are safe. My £15.70 is not under threat.

Good stuff im safe too then.

[Full Monte]

Why cant people focus on the positive, instead of grim negative remarks. Then people would feel better , spend more and the Economy would recover faster.

Scaremongery will keep us in reccesion.

1 Vote for positive thinking and reporting

[Babs]

Unfortunately, headlines of "EVERYTHING IS OK" and "FLUFFY RABBIT HOPS OVER PUDDLE" don't sell newspapers

['daiking']

Why cant people focus on the positive,

Which is?

Although some might say that better returns for labour over capital are a positive thing.

[Latte]

"FLUFFY RABBIT HOPS OVER PUDDLE"

Brilliant! I am so relieved Fluffy made it over that puddle.

I'm feeling so good now I think I'll withdraw all my money and buy Drachmas.

[D15VRS]

Why cant people focus on the positive, instead of grim negative remarks. Then people would feel better , spend more and the Economy would recover faster.

Scaremongery will keep us in reccesion.

1 Vote for positive thinking and reporting

In an Ideal world it would work, but how many people fear for their jobs, how many have lost their jobs. That's just not a sensible remark to make, I have a Mortage, Car loan 3 Children, no Wage rise in the last 3 Years. Now my money just does'nt go as far as it used too. Some Brainy person says spend your way out of the Mire we are in, I just don't have the money to make this Master Plan work, SORRY. So if all you RICH people out there, claiming Expenses, fiddling your Tax's feel like lending a helping hand Thank You.

[lol-lol]

Will you quit with the ======== breaks in all your threads. Have you tried viewing threads like this on a mobile site?

You'd better get all your tax evaded money out quick then hey....

Tidied up.

I do not use banks much but use biulding societies as you know banks are against my principals.

Why involve a profit making third party when you do not have to?

lol

Edited 19 May, 2012 by lol

[lol-lol]

Which is?

Although some might say that better returns for labour over capital are a positive thing.

Well I have some positive news items.

1. Saving rates are going up.
   
2. Petrol prices are going down.
   

That is about it. Oh and there has been plenty of news exposing the ConDems that we are not "in it together" ie what is a Pasty anyways? (Osbourne).

Why not make pasty the 5% intermediate VAT rate rather than going from zero rated to 20%, no imagination.

Edited 19 May, 2012 by lol

[D15VRS]

lol, Saving rates going up, not seen that anywhere, but will look. Have heard intrest rates could be on the up. Petrol prices going down not heard that one either, have heard the price of crude oil has gone down, fuel prices were dropped last week with ASDA knocking it down to £1.39 for Diesel. But prices cannot go much further because is it ?? 78% is UK Tax. So unless the Tax or Vat drops we will always have high prices.

[xreyuk]

I hated Santander when I banked with them, I opened a current and savings account, and closed them 2 weeks later because customer service was appalling. I know they give good rates, but it's such hard work getting anything done.

[slider]

Seems to have started over here too:-

By James Hall, and Philip Aldrick 7:32PM BST 18 May 2012 - Daily Telegraph

=================================================================

Withdrawals at Santander UK amid Spain fears

Customers with large deposits have started withdrawing cash from Santander, the bank has admitted, as it tried to reassure concerned members of the public that their money is safe.

The high street bank also saw an increase in enquiries by worried savers to its call centres and in its 1,380 branches across Britain yesterday. Customers are worried that the bank will be dragged into the eurozone crisis because it is owned by Spain’s Banco Santander. On Thursday, Banco Santander, its UK subsidiary and 15 other Spanish banks had their credit ratings downgraded due to their exposure to the struggling Spanish economy. The Spanish banks were hit with more bad news yesterday, as official figures showed bad debts had risen to their highest level in 18 years.

However, shares across the sector shrugged off the concerns to rally strongly, as treasury minister Inigo Fernandez de Mesa said there was little reason for concern as “Spanish banks have plenty of liquidity”. Lenders have about two years of funding, due to the European Central Bank’s emergency support. Spain is expected to announce shortly that the fund manager BlackRock and consultants Oliver Wyman will conduct an independent audit of the banks as part of month-long stress tests. Their remit will be to assess how much of the €600bn (£483bn) of mortgage debt needs to be written down. The government will make public the findings of the two-stage audit in an attempt to end speculation about concealed risk. Goldman Sachs has been drafted in separately to assess how much capital Bankia needs, with analysts suggesting the taxpayer could be on the hook for between €12bn and €15bn of new equity.

====================================================

Thats the sort of post that starts an run on banks and pulls them down - highly irresponsible as Sanander UK is an entity operating in Isolation from its par-tent company.

Rumours about bad news have played a big part in this recession.

[Full Monte]

Thats the sort of post that starts an run on banks and pulls them down - highly irresponsible as Sanander UK is an entity operating in Isolation from its par-tent company.

Rumours about bad news have played a big part in this recession.

My point exactly

Im in the building trade and my income is down by 1/3 for the third year running.

[lol-lol]

Thats the sort of post that starts an run on banks and pulls them down - highly irresponsible as Sanander UK is an entity operating in Isolation from its par-tent company.

Rumours about bad news have played a big part in this recession.

It was the Daily Torygraph that has run the story.

Wiki-

Santander UK plc is a wholly owned subsidiary of the Spanish Santander Group, based in the United Kingdom. Santander is the third largest bank in the UK in terms of deposits,^[2] the second largest in terms of mortgages held,^[3] and the fourth largest in terms of branches operated.^[4] As of January 2010, Santander has 25 million customers in the UK.^[5] In October 2011, Moody's Analytics downgraded the credit rating of 12 UK financial firms including Santander UK blaming financial weakness.^[6] Santander is frequently ranked the worst bank in the UK for customer service.^[7] Between 2007 and 2010 it was ranked as worst bank for customer service in the JD Power UK Retail Banking Satisfaction Study, however in the 2011 survey it improved to second worst.^[7][8]"

I am most worried that the Government has not monitored this, and other banks like HBOS and RBS, and they do not have enough tier one capital and we the UK taxpayer will be on the hook for billions whilst many of the deposits are foreigner depositing imported money. Santander PLC repatriates profit (quarter of a billion last year), which is a moveable feast, which they will be doing to help their parent company.

Edited 19 May, 2012 by lol

[All torque]

My point exactly

Im in the building trade and my income is down by 1/3 for the third year running.

+1

I`m not in the building trade but I am self employed. Turnover 35% down on last year and last year was terrible. Hard to see any possitive things right now......................and in the near future.

Edited 19 May, 2012 by All torque

[lol-lol]

My point exactly

Im in the building trade and my income is down by 1/3 for the third year running.

Lack of spending on constuction is the difference between recession and not recession.

Government should be spending much more on infrastructure than will help the economy now and future ie roads, rail, airports. Cancelling the 3rd running at Heathrow has handed tens of thousands of jobs to Skipol and Frankfurt.

Raising VAT to 20% was also a stupid thing to do as it slows down purchasing of biulding works like conservatories, garage conversions and it should be lowered to 15% ASAP.

Edited 19 May, 2012 by lol

[slider]

It was the Daily Torygraph that has run the story.

Wiki-

Santander UK plc is a wholly owned subsidiary of the Spanish Santander Group, based in the United Kingdom. Santander is the third largest bank in the UK in terms of deposits,^[2] the second largest in terms of mortgages held,^[3] and the fourth largest in terms of branches operated.^[4] As of January 2010, Santander has 25 million customers in the UK.^[5] In October 2011, Moody's Analytics downgraded the credit rating of 12 UK financial firms including Santander UK blaming financial weakness.^[6] Santander is frequently ranked the worst bank in the UK for customer service.^[7] Between 2007 and 2010 it was ranked as worst bank for customer service in the JD Power UK Retail Banking Satisfaction Study, however in the 2011 survey it improved to second worst.^[7][8]"

I am most worried that the Government has not monitored this, and other banks like HBOS and RBS, and they do not have enough tier one capital and we the UK taxpayer will be on the hook for billions whilst many of the deposits are foreigner depositing imported money. Santander PLC repatriates profit (quarter of a billion last year), which is a moveable feast, which they will be doing to help their parent company.

Don't care who ran the story - typical media creating sensational headline to sell their own paper/TV show or whatever. Bad news always sells where good news for some reason doesn't. The as I alluded to before, irresponsible and negative media are a major contributor to the recession.

Lets hear the good news - when people feel good they are more likely to make decisions that will take the country forward.

['daiking']

Well I have some positive news items.

1. Saving rates are going up.
   
2. Petrol prices are going down.
   

That is about it. Oh and there has been plenty of news exposing the ConDems that we are not "in it together" ie what is a Pasty anyways? (Osbourne).

Why not make pasty the 5% intermediate VAT rate rather than going from zero rated to 20%, no imagination.

1) why would be increased savings rates be a positive when i talk about the value of labour over capital

2) not sure what pastys have to do with spanish banks but as you bring it up, there's a wider tax issue behind it that i would expect you to be aware of, Mr. Tax. Increasing lobbying from hot food vendors to be zero vat rated which would have left a big hole in revenue. This change makes a messy legal challenge go away.

Found it, tis an nteresting slant: http://eureferendum.blogspot.co.uk/2012/03/something-fishy.html

[Clunkclick]

Doesn"t look as if Dave and his mates have an optimistic view of the future:-

http://www.telegraph.co.uk/news/politics/9277508/David-Camerons-radical-plan-to-reform-jobs-red-tape.html

http://www.telegraph.co.uk/news/uknews/9277440/Treasury-delays-put-HS2-plan-in-jeopardy.html

From what"s said here, it looks like Dave"s set his sights on the MK2 Version of the sweatshop economy - An extension of the slave trade in illegal revolving door foreign workers, carpet-bagging entreprenneurs, demonisation of displaced native workers as social security scroungers, no caoital investment and maximisation of tax avoidane possibilties. Not forgetting the categorisation of anybody wbo understands what's happening and expresses a contrary view as an enemy of the state.

Mind you, all of this combined wouldn't be as bad as Santander Customer Service or the knowledge that the female CEO took home a remuneration package of £4 million.

Nick

Edited 20 May, 2012 by Clunkclick

['daiking']

Doesn"t look as if Dave and his mates have an optimistic view of the future:-

http://www.telegraph.co.uk/news/politics/9277508/David-Camerons-radical-plan-to-reform-jobs-red-tape.html

http://www.telegraph.co.uk/news/uknews/9277440/Treasury-delays-put-HS2-plan-in-jeopardy.html

From what"s said here, it looks like Dave"s set his sights on the MK2 Version of the sweatshop economy - An extension of the slave trade in illegal revovling door foreign workers, carpet-bagging entreprenndurs, demonkzation of displaced nativd workers as social security scroungers, no caoital investment and maximisation of tax avoidane possibilties. Not forgetting the categorisation of anybody wbo understands what"s happening and expresses a view as an enemy of the state.

Mind you, all of this combined wouldn"t be as bad as Santander Customer Service or the knowledge that the female CEO took home a remuneration package of £4 million.

Nick

Well they saw it worked so well for Tony Blair.

Feeling like we're past trying to fix things and just looting the remainder they haven't managed to bag over the last 40 years. Current Labour hierachy are just miffed they didn't get their last chance at the trough.