UK banks can weather pandemic, says Bank of England
11/12/2020 | news | business | 384
Most risks to financial stability posed by Covid and a no-deal Brexit have been mitigated, the Bank says.
1
11/12/2020 09:50:14 13 12
bbc
Well that's nice for the banks.

The rest of us are having a tough time.
16
11/12/2020 09:56:42 16 3
bbc
Indeed. HSBC charges 16.9% apr on personal loans and pays 0.1% on savings. Of course they can weather the storm.
2
11/12/2020 09:51:39 2 4
bbc
Banks will take a beating if we end up with that chancer's view of 1 in a million chance of No Deal......
3
11/12/2020 09:51:10 11 8
bbc
This is a bit like saying predators die last after a meteor strike as they can eat all the other dead animals.........
4
11/12/2020 09:52:27 5 8
bbc
But can they weather a no deal Brexit?....
6
Bob
11/12/2020 09:53:42 8 5
bbc
So you didn't even read the article before you commented??

"Most risks to the UK's financial stability posed by a no-deal Brexit have been mitigated, it said"
12
11/12/2020 09:55:27 4 4
bbc
Can you read or just remoan?
13
11/12/2020 09:55:30 4 3
bbc
Read the article
37
11/12/2020 10:09:20 1 2
bbc
Brexit dragged into comments again, give it a rest and just accept it
41
11/12/2020 10:10:34 0 1
bbc
Can the banks weather Brexit! Of course not... there will be no banks in the UK on January 1st. Everybody knows that surely? If not the Projekt Fear has failed in its objectives.
5
11/12/2020 09:52:49 4 3
bbc
"For instance, unemployment would have to rise to 15% and house prices to fall by 30%."

In the case of the former, the UK government would at best take steps to hide the figures by manipulation or meaningless actions to keep people out of the numbers. Could reduce non-EU taking skilled Brits jobs but won't.
On the latter as misjudged stamp duty holiday, taxpayers money won't any drop
4
11/12/2020 09:52:27 5 8
bbc
But can they weather a no deal Brexit?....
6
Bob
11/12/2020 09:53:42 8 5
bbc
So you didn't even read the article before you commented??

"Most risks to the UK's financial stability posed by a no-deal Brexit have been mitigated, it said"
44
11/12/2020 10:12:02 0 3
bbc
Brexit, brexit, brexit, oh yes, the good old brexit excuses yet again - boring, boring, boring
7
11/12/2020 09:54:05 44 15
bbc
Cause they will survive .......we bailed them out last time!
84
11/12/2020 10:30:03 10 2
bbc
and have no public services due to it
293
11/12/2020 19:51:07 4 0
bbc
You personally?? Government made a nice profit out of Lloyds when they sold the shares. RBS will be ok too. You do realise that not bailing them out would have caused world problems far worse than COVID? No thought not!
8
11/12/2020 09:54:07 50 18
bbc
Oh well that's a relief. To hell with everyone else though.

Banks are like cockroaches - they can survive anything.
Stupid comment Removed
280
11/12/2020 17:19:57 1 0
bbc
Except that cockroaches are more pleasant and less harmful
9
11/12/2020 09:54:55 103 21
bbc
Of course they can. They have the taxpayer to bail them out.

For you and me, 'weathering' means 'cutting back'. For banks it means 'sitting back and watching the money roll in'.
61
11/12/2020 10:18:46 12 6
bbc
Just like when dual mortgage income tax relief was stopped 30 years ago, and in 2008, when the brakes go on, the economy crashes.
160
11/12/2020 11:53:18 1 5
bbc
buy shares in banks if u think they will be doing so good???
187
Dee
11/12/2020 13:51:23 5 1
bbc
In contrast to previous downturns, the rules on banks have been tightened so they are expected to keep large amounts of reserves to stop them getting a taxpayer bailout. This doesn’t mean they won’t be affected by firms going bust due to Covid.
190
11/12/2020 13:55:14 4 2
bbc
Printing money has absolutely no reliance on taxpayers.
Simple is, as simple reasons. Removed
256
11/12/2020 16:42:30 0 2
bbc
Spot on.

Turkeys have been voting for Xmas for so long, the Nasty Party can do as they please.
353
12/12/2020 15:08:44 1 1
bbc
The financial crash in 2008 was caused by financial institutions constantly reselling bad debt until someone said this is nonsensical and illegal.

So what happened next was QE, which is the BoE conjuring electronic money into existence and constantly buying and reselling bad debt via Government and Corporate Bonds. It's going on now and is in essence a giant Ponzi scheme or smoke & mirrors!
8
11/12/2020 09:54:07 50 18
bbc
Oh well that's a relief. To hell with everyone else though.

Banks are like cockroaches - they can survive anything.
10
Bob
bbc
Stupid comment Removed
157
Pip
11/12/2020 11:50:28 2 1
bbc
So was that........?
203
11/12/2020 14:08:36 1 2
bbc
Not really.
They are pretty opportunist and have behaved totally immorally historically.
What metaphor would you think appropriate?
Leeches?
11
11/12/2020 09:55:17 3 2
bbc
Where there is greed there will be risk, except for the banks which the BoE won't ever allow to fail.
4
11/12/2020 09:52:27 5 8
bbc
But can they weather a no deal Brexit?....
12
11/12/2020 09:55:27 4 4
bbc
Can you read or just remoan?
4
11/12/2020 09:52:27 5 8
bbc
But can they weather a no deal Brexit?....
13
11/12/2020 09:55:30 4 3
bbc
Read the article
24
11/12/2020 10:02:12 1 1
bbc
The article states

"Financial stability is not the same as market stability"

You can have as much preparation as you like, but if your market is disrupted then you're going to have problems. A no deal exit WILL affect how markets operate, the problem is nobody really knows to what extent, yet. Remember talk of "emergency budgets" in the run up to the referendum? Wrong preparation.
14
11/12/2020 09:56:03 2 1
bbc
Good for the bank not for households though, they need to borrow
Household savings rate in UK is 4.7% of income
27
11/12/2020 10:03:07 11 0
bbc
For a large number who can "work" from home still on full pay, their savings have increased, both on work travel costs and childcare costs reduction, and savings on spending during restricted retail openings and holidays cut. Plus government have helped to inflate house prices even more.
Other have bled through their savings and if renting just delayed when they face the music if in arrears.
15
11/12/2020 09:56:35 9 4
bbc
But if I understand correctly, the banks were never part of any deal so have had four years to prepare for "no" deal. Successfully by the sound of it.

What a shame other larger companies with very high paid senior management didn't think to do a bit of planning for that eventuality.

Perhaps they should return the bonuses given these last 4 years as they have not noticed what was going on!
34
11/12/2020 10:07:39 3 7
bbc
How do you prepare for 10 - 50% tariffs on your goods making them uncompetitive?? The obvious way is to move your production overseas to a tariff free country. Or you hang fire, especially when the Government has told you that they will get a "good deal". The only management to blame is the one running the country??
50
11/12/2020 10:14:05 2 1
bbc
Banks need to acquire passporting rights to continue to operate and serve EU customers. Many bank have moved people and divisions and listings to the EU, This will continue as the EU would like the rather large tax take, Especially the €1trillion euro swap market. Big issue for the UK as the city of London is quite the cash cow
53
BOF
11/12/2020 10:15:38 3 2
bbc
Perhaps the poor saps believed what the government.

When Johnson said the odds in favour of a deal were 1m to 1 I offered my MP a bet on those odds. Unfortunately he did not accept it. I suspect he did not believe his bosses numbers.

Anyway Johnson will be telling us that he said the odds were 1m to 1 against a deal, we just failed to understand.
57
xlr
11/12/2020 10:18:36 0 3
bbc
Banks don't import or export anything or rely on any goods that are imported or exported in the supply chain. Of course it's easy for them to prepare.

For everyone else it's an absolute nightmare.
266
11/12/2020 16:59:43 2 0
bbc
Many businesses failed to get ready as it would cost money - which would be wasted if a deal was struck. They have been gambling.
Now they must be running round like headless chickens as well as preparing their personal sob stories to send to the BBC.
1
11/12/2020 09:50:14 13 12
bbc
Well that's nice for the banks.

The rest of us are having a tough time.
16
11/12/2020 09:56:42 16 3
bbc
Indeed. HSBC charges 16.9% apr on personal loans and pays 0.1% on savings. Of course they can weather the storm.
23
11/12/2020 10:01:56 3 1
bbc
Obscene discrepancies like this ,all over the banking sector.
38
Bob
11/12/2020 10:09:56 3 1
bbc
Funny - I just got a personal loan for 2.5% .....
40
11/12/2020 10:10:28 1 1
bbc
Keep your money under your mattress then
Legalised extortion. Crooked greedy B'stards. Removed
302
11/12/2020 21:04:18 1 0
bbc
It's to represent the risk of failure very straightforward. If you have a good credit rating 2.5- 2.9% are available. If you're seeing 16.9 then you're obviously a high risk
17
11/12/2020 09:57:49 3 8
bbc
I'm so pleased that rampant and unchecked capitalism which fails to trickle down its wealth and tries to run an infinite scheme on a finite planet will continue unabated. Thrilled...
25
11/12/2020 10:02:33 8 3
bbc
Morning, the top 1% of earners pay 29% of the national tax income and the top 5% pay 50%...what else would you like to see happen?
18
11/12/2020 09:58:52 9 3
bbc
I wouldn't 'bank' on it.
19
11/12/2020 09:59:17 65 14
bbc
Banks are NOT your friend...just remember that when dealing with them
276
11/12/2020 17:17:14 8 13
bbc
Go further, banks are the enemies of every person in the UK earning a real living. Banks make NO money, they just steal it from men and women and small businesses, accumulate it and hand it out in huge dollops to the rich. The banks should have been made ot fail decades ago.
315
11/12/2020 22:39:49 5 0
bbc
Yet millions of people leave money in accounts with little or no interest and blame the bank. Take responsibility for your finances and this needn't be a problem.
347
12/12/2020 13:36:09 0 1
bbc
no matter how much fluffy light piano music with a forsaken female vocalist they have on the adverts.
20
11/12/2020 09:59:26 2 2
bbc
The B of E is protecting its forecast by introducing so many caveats into its analysis.
21
Ian
11/12/2020 10:00:55 10 15
bbc
?? The UK can weather the pandemic, but we'll need to get rid of the clown Johnson and the Tories
That's an odd upbeat message, what's wrong with them?
16
11/12/2020 09:56:42 16 3
bbc
Indeed. HSBC charges 16.9% apr on personal loans and pays 0.1% on savings. Of course they can weather the storm.
23
11/12/2020 10:01:56 3 1
bbc
Obscene discrepancies like this ,all over the banking sector.
13
11/12/2020 09:55:30 4 3
bbc
Read the article
24
11/12/2020 10:02:12 1 1
bbc
The article states

"Financial stability is not the same as market stability"

You can have as much preparation as you like, but if your market is disrupted then you're going to have problems. A no deal exit WILL affect how markets operate, the problem is nobody really knows to what extent, yet. Remember talk of "emergency budgets" in the run up to the referendum? Wrong preparation.
17
11/12/2020 09:57:49 3 8
bbc
I'm so pleased that rampant and unchecked capitalism which fails to trickle down its wealth and tries to run an infinite scheme on a finite planet will continue unabated. Thrilled...
25
11/12/2020 10:02:33 8 3
bbc
Morning, the top 1% of earners pay 29% of the national tax income and the top 5% pay 50%...what else would you like to see happen?
156
11/12/2020 11:47:17 0 1
bbc
So if that's true then how are the rich getting obscenely richer while the rest of us fight among ourselves for the scraps while this government keeps cutting back on essential services? Your maths doesn't add up. Stop protecting the obscenely wealthy - they don't care about you. You don't get rewarded for licking their boots.
26
11/12/2020 10:02:48 28 3
bbc
Going back to the old days of the "mortgage famine", which had good and bad points. While it made things a little more difficult to get a house without a reasonable deposit, it served to put a brake on the house price explosion we have seen in recent years. Very few people can now buy a house which costs the equivalent of 2 or 3 years salary now.
67
Neb
11/12/2020 10:21:56 23 8
bbc
2 or 3? That was back in the 80/90's - Average house price is now 10x the average wage. Get with the times.
152
11/12/2020 11:41:59 3 1
bbc
There has been no house price explosion. You could buy a house today in gold sovereigns for the same number that you would have paid 50 years ago for the same house. The pound sterling has been devalued by a factor of 40 to 50 relative to real money.
209
11/12/2020 14:14:11 0 3
bbc
a house which costs the equivalent of 2 or 3 years salary now.

I wish I had your salary! More like x 8
14
11/12/2020 09:56:03 2 1
bbc
Good for the bank not for households though, they need to borrow
Household savings rate in UK is 4.7% of income
27
11/12/2020 10:03:07 11 0
bbc
For a large number who can "work" from home still on full pay, their savings have increased, both on work travel costs and childcare costs reduction, and savings on spending during restricted retail openings and holidays cut. Plus government have helped to inflate house prices even more.
Other have bled through their savings and if renting just delayed when they face the music if in arrears.
28
11/12/2020 10:03:47 4 9
bbc
They might weather the pandemic but will they survive Brexit?

Anyway, who needs experts?
31
11/12/2020 10:05:26 9 2
bbc
Less than 30 comments in for the first Brexit comment
35
Bob
11/12/2020 10:08:43 1 3
bbc
Another one who hasn't read the article before commenting
29
11/12/2020 10:03:56 26 11
bbc
I'm sure the banks will be fine. After all, they've got all the money. It's the rest of us living payday to payday I despair for.

Britain is a powder-keg. It won't take much after this year. It really won't.
72
11/12/2020 10:24:08 7 4
bbc
Who would actually disagree with this... shows you the level of some people in this country.
263
11/12/2020 16:50:54 1 0
bbc
everyone is too lazy.

drinking BBC approved tea..
30
11/12/2020 10:03:58 5 3
bbc
They may well do, but they will get there money and more out of you in the end
28
11/12/2020 10:03:47 4 9
bbc
They might weather the pandemic but will they survive Brexit?

Anyway, who needs experts?
31
11/12/2020 10:05:26 9 2
bbc
Less than 30 comments in for the first Brexit comment
43
11/12/2020 10:11:12 5 0
bbc
Brexit is explicitly referenced in the article
32
Tv
11/12/2020 10:06:22 2 0
bbc
Yeah, but why ?
Greedy fkrs Removed
33
MVP
11/12/2020 10:07:22 78 10
bbc
It is little comfort to those who have lost their businesses, their jobs and their livelihoods as a result of this pandemic that the banks will be unaffected.
91
11/12/2020 10:34:56 57 8
bbc
Absolutely. Lost our Business and my job. I have £1,036.41 to live on a month [an occupational pension]. Rent is half of that and now in deficit and because I have that Income I am not entitled to ANY benefits. I have worked all my life and paid taxes. People with money [Millionaires/billionaires/trillioniares] have no idea! I shall be bankrupt next month! what then????
179
11/12/2020 12:53:43 17 1
bbc
"Weathering the pandemic" does not equate to "unaffected".

The banks have had to build up huge reserves - 'saving up' so that they can cope with losing substantial amounts of money without going bust themselvs.

That is very different to being 'unaffected'. They will still lose a substantial sum of money due to the pandemic. It's just that their own savings should prevent them going under.
271
11/12/2020 17:13:48 1 0
bbc
Its less comfort to realise that having taken so much help from us the tax payers in the past they turned the thumbscrews on small businesses and killed them off instead of helping them.
15
11/12/2020 09:56:35 9 4
bbc
But if I understand correctly, the banks were never part of any deal so have had four years to prepare for "no" deal. Successfully by the sound of it.

What a shame other larger companies with very high paid senior management didn't think to do a bit of planning for that eventuality.

Perhaps they should return the bonuses given these last 4 years as they have not noticed what was going on!
34
11/12/2020 10:07:39 3 7
bbc
How do you prepare for 10 - 50% tariffs on your goods making them uncompetitive?? The obvious way is to move your production overseas to a tariff free country. Or you hang fire, especially when the Government has told you that they will get a "good deal". The only management to blame is the one running the country??
68
11/12/2020 10:22:15 4 0
bbc
The Government can give you the the money they collect in tariffs from the EU goods arriving back to the British companies & still have a lot left in the pot. With such unequal amount of trade, tariffs hurt the EU a lot more. It's not like we don't have the rest of the world to trade with.
93
11/12/2020 10:35:47 1 0
bbc
In honesty pwcork, I don't know in any detail. But I'm not pulling down £mms because of my great ability to manage and mitigate risk.

The banks seem to have managed and I don't think that is because they had it esay. So there is probably some mix of things the other companies could have done but didn't and things they simply couldn't control.
28
11/12/2020 10:03:47 4 9
bbc
They might weather the pandemic but will they survive Brexit?

Anyway, who needs experts?
35
Bob
11/12/2020 10:08:43 1 3
bbc
Another one who hasn't read the article before commenting
36
11/12/2020 10:09:14 7 8
bbc
A house price fall of 30% could be construed as a reasonable correction and make housing more affordable for the average person, certainly for 1st time buyers but would be disaster for the banks.
This, along with the massive differential between bank's loan and savings rates clearly shows that banks are not friends of the people, it seems they just privatise profits and socialise losses.
4
11/12/2020 09:52:27 5 8
bbc
But can they weather a no deal Brexit?....
37
11/12/2020 10:09:20 1 2
bbc
Brexit dragged into comments again, give it a rest and just accept it
16
11/12/2020 09:56:42 16 3
bbc
Indeed. HSBC charges 16.9% apr on personal loans and pays 0.1% on savings. Of course they can weather the storm.
38
Bob
11/12/2020 10:09:56 3 1
bbc
Funny - I just got a personal loan for 2.5% .....
39
BOF
11/12/2020 10:10:02 7 4
bbc
Where house prices are going depends on immigration. At the moment according to the last numbers I heard many people of working age are are leaving the country to return to the EU and the rest of the world. If they stay away after Covid ceases to be a problem then the pressure will come off housing. Economic weakness and unemployment are likely to push prices down.
46
11/12/2020 10:12:32 4 3
bbc
Good, the biggest winners from high house prices are the banks.
66
Neb
11/12/2020 10:21:06 2 0
bbc
Not sure where you are getting your info from, but that's total fluff. Housing supply is controlled primarily by private developers in this country. So if less people want to buy houses what do you think they will do?

A) Keep making same amount and sell them for less?

B) Make less to keep supply low and sell them for more?

Be smart here.
69
11/12/2020 10:23:06 2 0
bbc
Who did you hear that from Brexit Nige down the pub ?
16
11/12/2020 09:56:42 16 3
bbc
Indeed. HSBC charges 16.9% apr on personal loans and pays 0.1% on savings. Of course they can weather the storm.
40
11/12/2020 10:10:28 1 1
bbc
Keep your money under your mattress then
4
11/12/2020 09:52:27 5 8
bbc
But can they weather a no deal Brexit?....
41
11/12/2020 10:10:34 0 1
bbc
Can the banks weather Brexit! Of course not... there will be no banks in the UK on January 1st. Everybody knows that surely? If not the Projekt Fear has failed in its objectives.
42
11/12/2020 10:10:39 48 5
bbc
Having paid 17 million savers diddley-squat for the past ten years of nearly free taxpayers' money (Funding for Lending, Help to Buy, the Term Funding Scheme and £495 billions of QE), it doesn't seem likely that the banks will run short of funds. The goodwill and respect of customers is another matter.
45
Bob
11/12/2020 10:12:21 10 19
bbc
The Banks don't get QE money "for free"
292
11/12/2020 19:49:13 1 0
bbc
It's the BoE fault. The rates should have been increased to about 4% before this pandemic. Leaving them so low only encouraged folk to get the cheap borrowing without a care how it would be paid back. A bit like having a coat on in the house for ages before going out, no benefit
31
11/12/2020 10:05:26 9 2
bbc
Less than 30 comments in for the first Brexit comment
43
11/12/2020 10:11:12 5 0
bbc
Brexit is explicitly referenced in the article
55
11/12/2020 10:15:41 4 2
bbc
not the point - everyday someone commenting on here has to mention the B word on whenever they can
6
Bob
11/12/2020 09:53:42 8 5
bbc
So you didn't even read the article before you commented??

"Most risks to the UK's financial stability posed by a no-deal Brexit have been mitigated, it said"
44
11/12/2020 10:12:02 0 3
bbc
Brexit, brexit, brexit, oh yes, the good old brexit excuses yet again - boring, boring, boring
42
11/12/2020 10:10:39 48 5
bbc
Having paid 17 million savers diddley-squat for the past ten years of nearly free taxpayers' money (Funding for Lending, Help to Buy, the Term Funding Scheme and £495 billions of QE), it doesn't seem likely that the banks will run short of funds. The goodwill and respect of customers is another matter.
45
Bob
11/12/2020 10:12:21 10 19
bbc
The Banks don't get QE money "for free"
54
11/12/2020 10:15:40 11 3
bbc
No, they get it on the backs of the borrowers who provide the profits and the savers who get nothing from the banks.
And you clearly can't read Removed
149
11/12/2020 11:38:24 10 0
bbc
Typically the BoE uses QE money to buy government bonds held by large investment banks at a higher price than the banks paid for them. Thus the banks make a profit. The increased price of the bonds depresses yield and so the government are able to sell new bonds at a lower interest rate reducing the cost of government debt. The banks then buy more bonds and sell them to the BoE also at a profit.
207
11/12/2020 14:11:27 2 1
bbc
It's Xmas.
"Oh Yes they do!"
I really don't know why you posted your claim. It's worthy of BoJo or Gove.
Yes! That disingenuous.
208
11/12/2020 14:13:28 4 1
bbc
The domestic banks create 'money' when they make loans, and then add interest.
223
11/12/2020 14:53:48 1 0
bbc
LOL... yes they did!!
279
11/12/2020 17:19:26 0 1
bbc
No, I suppose they didnt. they had to take people out for nice dinners.
342
12/12/2020 11:29:45 0 1
bbc
Economics and banking not your strong point I see.
39
BOF
11/12/2020 10:10:02 7 4
bbc
Where house prices are going depends on immigration. At the moment according to the last numbers I heard many people of working age are are leaving the country to return to the EU and the rest of the world. If they stay away after Covid ceases to be a problem then the pressure will come off housing. Economic weakness and unemployment are likely to push prices down.
46
11/12/2020 10:12:32 4 3
bbc
Good, the biggest winners from high house prices are the banks.
16
11/12/2020 09:56:42 16 3
bbc
Indeed. HSBC charges 16.9% apr on personal loans and pays 0.1% on savings. Of course they can weather the storm.
47
bbc
Legalised extortion. Crooked greedy B'stards. Removed
48
11/12/2020 10:13:49 47 5
bbc
Easy to say the banks will be alright, the Bank of England’s policy of the last decade has benefitted them heavily.

The BoE need to be subject to heavy scrutiny of their QE and rates’ policies, as for the majority of the population this policy doesn’t seem to have been of any noticeable benefit.
139
11/12/2020 11:25:39 14 5
bbc
What a ridiculous statement by the BoE.

They are hardly likely to say:

"well it's all a bit marginal, we may have a financial crisis that makes 2010 look trivial"

Banking is all about maintaining confidence in the system - whether justified or not!
243
11/12/2020 15:59:50 1 1
bbc
QE doesn't benefit the majority. It benefits those at the top of the tree, those owning big assets. From everyone else it is theft of their purchasing power
278
11/12/2020 17:18:31 0 2
bbc
Yup... BofE has pumped billions into the other banks... at our expense, following on from the billions given to them by Blair/Brown. No faviours to the rest of us, no continuation loans for small business DESPITE the money given for that purpose by the government. Banks should be shut forcibly.
49
11/12/2020 10:13:51 4 3
bbc
The City of London prevails as a global financial services centre.

Never been in doubt!

??????
62
11/12/2020 10:19:42 4 1
bbc
The overpaying of fat cats that started the property price escalation..
82
11/12/2020 10:29:33 1 0
bbc
Well so far only £1trilion worth of assets have moved from London to EU to meet passporting requirements. The City pays in 76 billion a year in Tax. For sure the EU are after this along with the high paying jobs. only 7.5k moved so far with 2.8k planned (around 4% of current total). They are in an 18 month transition period expect a slow ratcheting up of the rule over the coming years
96
11/12/2020 10:40:41 1 0
bbc
Or is it a BoE trying to stem any panic of its EU based investors - pulling out to EU to reinvest - the pound looks sooo healthy.
15
11/12/2020 09:56:35 9 4
bbc
But if I understand correctly, the banks were never part of any deal so have had four years to prepare for "no" deal. Successfully by the sound of it.

What a shame other larger companies with very high paid senior management didn't think to do a bit of planning for that eventuality.

Perhaps they should return the bonuses given these last 4 years as they have not noticed what was going on!
50
11/12/2020 10:14:05 2 1
bbc
Banks need to acquire passporting rights to continue to operate and serve EU customers. Many bank have moved people and divisions and listings to the EU, This will continue as the EU would like the rather large tax take, Especially the €1trillion euro swap market. Big issue for the UK as the city of London is quite the cash cow
51
11/12/2020 10:14:34 6 2
bbc
It seems our UK banks heeded the warnings to ensure they had plenty of cash reserves unlike the EU banks which were told a few days ago they had nowhere near enough reserves.
Where has all the talk of hundreds of thousands of financial services jobs moving to the EU gone??
70
11/12/2020 10:23:07 1 2
bbc
Wait until the next month or so when the EU finally reject the UK's bid to 'passport' financial services, then the jobs and tax receipts will drain away.
52
11/12/2020 10:14:53 67 6
bbc
A lot of big bank have refused to pass on the interest rate cuts to their variable rate mortgage customers, whilst reducing them for their saving accounts.
273
11/12/2020 17:16:14 7 8
bbc
Yup... we help the banks and they laughingly shaft us... frankly Blair/Brown were prats to help at all. Rover, ERF, Foden, DAF and hundreds of other manufacturing businesses allowed to fail but no, couldnt let the banks fail in case they couldnt have a nice well paid directorship when they finish politics.
15
11/12/2020 09:56:35 9 4
bbc
But if I understand correctly, the banks were never part of any deal so have had four years to prepare for "no" deal. Successfully by the sound of it.

What a shame other larger companies with very high paid senior management didn't think to do a bit of planning for that eventuality.

Perhaps they should return the bonuses given these last 4 years as they have not noticed what was going on!
53
BOF
11/12/2020 10:15:38 3 2
bbc
Perhaps the poor saps believed what the government.

When Johnson said the odds in favour of a deal were 1m to 1 I offered my MP a bet on those odds. Unfortunately he did not accept it. I suspect he did not believe his bosses numbers.

Anyway Johnson will be telling us that he said the odds were 1m to 1 against a deal, we just failed to understand.
45
Bob
11/12/2020 10:12:21 10 19
bbc
The Banks don't get QE money "for free"
54
11/12/2020 10:15:40 11 3
bbc
No, they get it on the backs of the borrowers who provide the profits and the savers who get nothing from the banks.
43
11/12/2020 10:11:12 5 0
bbc
Brexit is explicitly referenced in the article
55
11/12/2020 10:15:41 4 2
bbc
not the point - everyday someone commenting on here has to mention the B word on whenever they can
58
11/12/2020 10:18:40 2 0
bbc
In that case, complain about it on a HYS that is about a non-Brexit story.
56
11/12/2020 10:17:29 17 5
bbc
But OAPs can't on the almost zero interest rate imposed by the bank. Banks can survive, because they charge huge interest when they loan money to the public. I cannot see why, when the lender is a bank, the 'sky's the limit' on interest, but when the lender is an individual, he or she should not expect the same!
95
11/12/2020 10:39:31 5 2
bbc
If you have money you dont need to borrow it - if you dont n you need something - you can choose - save / borrow. Banks have limited funds from investors, n depositors or money earned in large from business - then they lend it out -they lend to fewer people than there are depositors - the interest spreads out more thinly - n a large bit back to those who put in the larger risk funding... help?
15
11/12/2020 09:56:35 9 4
bbc
But if I understand correctly, the banks were never part of any deal so have had four years to prepare for "no" deal. Successfully by the sound of it.

What a shame other larger companies with very high paid senior management didn't think to do a bit of planning for that eventuality.

Perhaps they should return the bonuses given these last 4 years as they have not noticed what was going on!
57
xlr
11/12/2020 10:18:36 0 3
bbc
Banks don't import or export anything or rely on any goods that are imported or exported in the supply chain. Of course it's easy for them to prepare.

For everyone else it's an absolute nightmare.
55
11/12/2020 10:15:41 4 2
bbc
not the point - everyday someone commenting on here has to mention the B word on whenever they can
58
11/12/2020 10:18:40 2 0
bbc
In that case, complain about it on a HYS that is about a non-Brexit story.
59
11/12/2020 10:18:41 11 6
bbc
Is it xmas or april fools? Of course they can weather the pandemic. If they get any trouble they get hundreds of billions thrown at them through QE.
63
Bob
11/12/2020 10:20:51 6 9
bbc
Someone else who doesn't know how QE works.....
77
11/12/2020 10:27:02 2 0
bbc
Oh, is that how it works? Perhaps you could comment on a subject you know something about next time.
45
Bob
11/12/2020 10:12:21 10 19
bbc
The Banks don't get QE money "for free"
And you clearly can't read Removed
103
Bob
11/12/2020 10:50:58 2 5
bbc
Clearly - I should have said that Banks don't get QE money at all - not directly anyway - and if they do get any QE money it is by borrowing it
9
11/12/2020 09:54:55 103 21
bbc
Of course they can. They have the taxpayer to bail them out.

For you and me, 'weathering' means 'cutting back'. For banks it means 'sitting back and watching the money roll in'.
61
11/12/2020 10:18:46 12 6
bbc
Just like when dual mortgage income tax relief was stopped 30 years ago, and in 2008, when the brakes go on, the economy crashes.
Which is not the banks fault but fiscal policies
49
11/12/2020 10:13:51 4 3
bbc
The City of London prevails as a global financial services centre.

Never been in doubt!

??????
62
11/12/2020 10:19:42 4 1
bbc
The overpaying of fat cats that started the property price escalation..
59
11/12/2020 10:18:41 11 6
bbc
Is it xmas or april fools? Of course they can weather the pandemic. If they get any trouble they get hundreds of billions thrown at them through QE.
63
Bob
11/12/2020 10:20:51 6 9
bbc
Someone else who doesn't know how QE works.....
80
11/12/2020 10:28:22 0 2
bbc
ok bob the banker please explain how QE is supposed to work so we can have a good chuckle
64
11/12/2020 10:20:52 22 7
bbc
interest on savings virtually 0% ...credit card/loan interest 10-30% ...perhaps the banks sholud look at why they existed in the first place
90
11/12/2020 10:33:34 10 1
bbc
The interest covers all the insurance they attach with purchases - basically credit card is borrowing - the interest is what you agree to pay... for all the benefit of money you dont have. As for their existence - go read - the Govt borrowed money for a war a long long time ago - and if you delve down the Govt never stopped borrowing and adding to the loan.
216
11/12/2020 14:30:06 2 0
bbc
Yes, and Wonga was driven out of business for charging extortionate rates. People just seem to accept credit cards rates as normal.
65
11/12/2020 10:21:05 0 1
bbc
The earlier article was how they had given permission to pay dividends again.

I wonder how much and how much relief they have collectively had.

BOE have a lot of interest in House Prices given its not really their remit.

I wonder why lol
73
Bob
11/12/2020 10:24:46 0 2
bbc
Pete: "I wonder how much and how much relief they have collectively had"

What kind of relief are you talking about?
81
11/12/2020 10:28:46 3 0
bbc
They always do - as the base rate interest is set by the bank - any change it makes has an effect on all variable mortgages - the BoE watch and check changes in the market etc - n with the Govt requirement to control inflation - by the use of interest rates - through controls of spending n saving - the Bank has a massive effect n interest in mortgages - and as banks borrow off BoE etc again it...
39
BOF
11/12/2020 10:10:02 7 4
bbc
Where house prices are going depends on immigration. At the moment according to the last numbers I heard many people of working age are are leaving the country to return to the EU and the rest of the world. If they stay away after Covid ceases to be a problem then the pressure will come off housing. Economic weakness and unemployment are likely to push prices down.
66
Neb
11/12/2020 10:21:06 2 0
bbc
Not sure where you are getting your info from, but that's total fluff. Housing supply is controlled primarily by private developers in this country. So if less people want to buy houses what do you think they will do?

A) Keep making same amount and sell them for less?

B) Make less to keep supply low and sell them for more?

Be smart here.
205
11/12/2020 14:10:27 0 0
bbc
Do all the private developers get together in the snug at the Dog and Duck and all decide not to build and keep supply low?
26
11/12/2020 10:02:48 28 3
bbc
Going back to the old days of the "mortgage famine", which had good and bad points. While it made things a little more difficult to get a house without a reasonable deposit, it served to put a brake on the house price explosion we have seen in recent years. Very few people can now buy a house which costs the equivalent of 2 or 3 years salary now.
67
Neb
11/12/2020 10:21:56 23 8
bbc
2 or 3? That was back in the 80/90's - Average house price is now 10x the average wage. Get with the times.
175
11/12/2020 12:49:10 3 0
bbc
I think that was the point that Bill was making.
34
11/12/2020 10:07:39 3 7
bbc
How do you prepare for 10 - 50% tariffs on your goods making them uncompetitive?? The obvious way is to move your production overseas to a tariff free country. Or you hang fire, especially when the Government has told you that they will get a "good deal". The only management to blame is the one running the country??
68
11/12/2020 10:22:15 4 0
bbc
The Government can give you the the money they collect in tariffs from the EU goods arriving back to the British companies & still have a lot left in the pot. With such unequal amount of trade, tariffs hurt the EU a lot more. It's not like we don't have the rest of the world to trade with.
39
BOF
11/12/2020 10:10:02 7 4
bbc
Where house prices are going depends on immigration. At the moment according to the last numbers I heard many people of working age are are leaving the country to return to the EU and the rest of the world. If they stay away after Covid ceases to be a problem then the pressure will come off housing. Economic weakness and unemployment are likely to push prices down.
69
11/12/2020 10:23:06 2 0
bbc
Who did you hear that from Brexit Nige down the pub ?
51
11/12/2020 10:14:34 6 2
bbc
It seems our UK banks heeded the warnings to ensure they had plenty of cash reserves unlike the EU banks which were told a few days ago they had nowhere near enough reserves.
Where has all the talk of hundreds of thousands of financial services jobs moving to the EU gone??
70
11/12/2020 10:23:07 1 2
bbc
Wait until the next month or so when the EU finally reject the UK's bid to 'passport' financial services, then the jobs and tax receipts will drain away.
32
Tv
11/12/2020 10:06:22 2 0
bbc
Yeah, but why ?
Greedy fkrs Removed
29
11/12/2020 10:03:56 26 11
bbc
I'm sure the banks will be fine. After all, they've got all the money. It's the rest of us living payday to payday I despair for.

Britain is a powder-keg. It won't take much after this year. It really won't.
72
11/12/2020 10:24:08 7 4
bbc
Who would actually disagree with this... shows you the level of some people in this country.
65
11/12/2020 10:21:05 0 1
bbc
The earlier article was how they had given permission to pay dividends again.

I wonder how much and how much relief they have collectively had.

BOE have a lot of interest in House Prices given its not really their remit.

I wonder why lol
73
Bob
11/12/2020 10:24:46 0 2
bbc
Pete: "I wonder how much and how much relief they have collectively had"

What kind of relief are you talking about?
88
11/12/2020 10:32:57 0 0
bbc
Covid Furlough etc.
74
Neb
11/12/2020 10:25:09 3 2
bbc
House prices are not going to drop, have people actually thought this through?

The housing in this country primarily comes from private developers.

So when there is a decrease in demand what do you think they will do?

A) Keep making same amount and sell them for less?

B) Make less and sell them at the same or more?

Come on people be smart here.
104
11/12/2020 10:55:24 1 0
bbc
Let's imagine that your product is already unaffordable, and that you can't expand the market with collateralised debt obligations, like in the 2000s....
75
11/12/2020 10:25:58 41 3
bbc
Of course the banks will be OK.

The question is will their customers be OK?
76
11/12/2020 10:26:42 21 5
bbc
Sure can! Charge excess to borrowers. Pay nothing to depositors. Cut back anything approaching a customer service. Close all branches. Scoop billions from ‘emergency contingency money’.
215
11/12/2020 14:23:01 12 4
bbc
This happens because we have stupid and deceitful politicians, who allow the banks to manipulate the economy.
The people of the UK owe it to themselves to hold both these parties to account for their crimanilty.
59
11/12/2020 10:18:41 11 6
bbc
Is it xmas or april fools? Of course they can weather the pandemic. If they get any trouble they get hundreds of billions thrown at them through QE.
77
11/12/2020 10:27:02 2 0
bbc
Oh, is that how it works? Perhaps you could comment on a subject you know something about next time.
78
11/12/2020 10:27:32 7 6
bbc
UK banks can weather pandemic, says Bank of England....because they have the taxpayer to bail them out if it goes pear shaped just like in 2008. Many of us are living in austerity on very tight budgets, yet the Banks are fleecing customers with high bank shares and expensive loans. Then to top it off they are paying sweet FA interest on savings. The fat cats are getting fatter.
89
Bob
11/12/2020 10:33:04 6 2
bbc
"Banks are fleecing customers with high bank shares"

What does that even mean??
79
11/12/2020 10:27:51 3 3
bbc
The BOE have got it wrong before. Just wait till Brexit really bites
63
Bob
11/12/2020 10:20:51 6 9
bbc
Someone else who doesn't know how QE works.....
80
11/12/2020 10:28:22 0 2
bbc
ok bob the banker please explain how QE is supposed to work so we can have a good chuckle
85
Bob
11/12/2020 10:30:34 2 0
bbc
BoE creates money and releases it into the economy by buying Government debt in the form of Government Bonds. That's how.
65
11/12/2020 10:21:05 0 1
bbc
The earlier article was how they had given permission to pay dividends again.

I wonder how much and how much relief they have collectively had.

BOE have a lot of interest in House Prices given its not really their remit.

I wonder why lol
81
11/12/2020 10:28:46 3 0
bbc
They always do - as the base rate interest is set by the bank - any change it makes has an effect on all variable mortgages - the BoE watch and check changes in the market etc - n with the Govt requirement to control inflation - by the use of interest rates - through controls of spending n saving - the Bank has a massive effect n interest in mortgages - and as banks borrow off BoE etc again it...
92
11/12/2020 10:35:45 1 2
bbc
I am aware of that but House Prices isn't in Inflation figures until go down, their remit was supposed to be inflation / economy not fixated on House Prices.
But when you end up with an Economy based on House Price Inflation it becomes a little difficult.
Still end up paying many £Millions in dividends and bonuses and good old BOE will come along with another £200,000,000,000 of our money
49
11/12/2020 10:13:51 4 3
bbc
The City of London prevails as a global financial services centre.

Never been in doubt!

??????
82
11/12/2020 10:29:33 1 0
bbc
Well so far only £1trilion worth of assets have moved from London to EU to meet passporting requirements. The City pays in 76 billion a year in Tax. For sure the EU are after this along with the high paying jobs. only 7.5k moved so far with 2.8k planned (around 4% of current total). They are in an 18 month transition period expect a slow ratcheting up of the rule over the coming years
83
11/12/2020 10:29:38 2 6
bbc
Does Money really exist?

Everyone should be given a "living wage", so all people throughout the world, at least has a basic level/means to survive. That is a Human Right and should be enshrined into every Countries Constitution coupled with a "re-set' about materialism, which is urgently needed in order to save this Planet [our beautiful home].
7
11/12/2020 09:54:05 44 15
bbc
Cause they will survive .......we bailed them out last time!
84
11/12/2020 10:30:03 10 2
bbc
and have no public services due to it
80
11/12/2020 10:28:22 0 2
bbc
ok bob the banker please explain how QE is supposed to work so we can have a good chuckle
85
Bob
11/12/2020 10:30:34 2 0
bbc
BoE creates money and releases it into the economy by buying Government debt in the form of Government Bonds. That's how.
124
11/12/2020 11:11:47 1 0
bbc
BofE creates money? Where from? Thin air? Whose money? Released into the economy? Who to?
275
11/12/2020 17:16:43 0 1
bbc
So then, please explain why the government needs to borrow money? When most people assume the government is the sole supplier and creator of 'money'. Government debt is mostly the money it has borrowed previously from commercial privately owned banks on which it has to pay compound interest to the BoE which is owned by the 'taxpayer'. If you can't see that's a scam then I can't help you.
86
11/12/2020 10:31:14 16 5
bbc
I suppose the positive thing we can take from this is that any money we have in the bank is safe and it's better than being under the mattress. But I wonder how many, if they knew what Brexit (and particularly a no deal one) really meant, would have voted for it. We've enough problems coping with Covid without Brexit crap on top. The pound has dropped 2.5% in a week which will push up inflation.
185
11/12/2020 13:22:41 6 3
bbc
Since 2010 the Torys have changed the way they calculate inflation 4 times, they manipulate the figures to get the rate they want so although real world inflation is 5%+ CPH is 0.4% - So they will never admit to Brexit caused inflation.
255
11/12/2020 16:41:33 0 1
bbc
Your money is certainly not safe in a bank. Recently the 'law' was changed so banks can legally 'confiscate' it to bail themselves out, under certain circumstances. But don't take my word for it. Look it up.
319
12/12/2020 04:16:46 0 0
bbc
UK is far too egalitarian.
Think of our days of glory when we ruled half the world.
The rich were really rich and the poor knew their place.
Now many actually own some land and have their own private transport. They even take holidays abroad.
Never would have happened under Victoria.
Don't worry, Brexit will devalue their savings. The rich will buy back all the property.
Good times are returning.
87
11/12/2020 10:31:16 3 1
bbc
Investors not worried, looking at the extent of the drops today
73
Bob
11/12/2020 10:24:46 0 2
bbc
Pete: "I wonder how much and how much relief they have collectively had"

What kind of relief are you talking about?
88
11/12/2020 10:32:57 0 0
bbc
Covid Furlough etc.
78
11/12/2020 10:27:32 7 6
bbc
UK banks can weather pandemic, says Bank of England....because they have the taxpayer to bail them out if it goes pear shaped just like in 2008. Many of us are living in austerity on very tight budgets, yet the Banks are fleecing customers with high bank shares and expensive loans. Then to top it off they are paying sweet FA interest on savings. The fat cats are getting fatter.
89
Bob
11/12/2020 10:33:04 6 2
bbc
"Banks are fleecing customers with high bank shares"

What does that even mean??
98
11/12/2020 10:42:53 1 2
bbc
Predictive text is a pain in the neck. Just for you Bob....yet the Banks are fleecing customers with high bank charges and expensive loans.
64
11/12/2020 10:20:52 22 7
bbc
interest on savings virtually 0% ...credit card/loan interest 10-30% ...perhaps the banks sholud look at why they existed in the first place
90
11/12/2020 10:33:34 10 1
bbc
The interest covers all the insurance they attach with purchases - basically credit card is borrowing - the interest is what you agree to pay... for all the benefit of money you dont have. As for their existence - go read - the Govt borrowed money for a war a long long time ago - and if you delve down the Govt never stopped borrowing and adding to the loan.
33
MVP
11/12/2020 10:07:22 78 10
bbc
It is little comfort to those who have lost their businesses, their jobs and their livelihoods as a result of this pandemic that the banks will be unaffected.
91
11/12/2020 10:34:56 57 8
bbc
Absolutely. Lost our Business and my job. I have £1,036.41 to live on a month [an occupational pension]. Rent is half of that and now in deficit and because I have that Income I am not entitled to ANY benefits. I have worked all my life and paid taxes. People with money [Millionaires/billionaires/trillioniares] have no idea! I shall be bankrupt next month! what then????
192
11/12/2020 13:59:10 7 9
bbc
Get a job?
198
11/12/2020 14:04:11 5 10
bbc
If only you had saved for a pension.
199
11/12/2020 14:04:31 7 2
bbc
[Millionaires/billionaires/trillioniares] have no idea!
I think you would do better identifying people near you in the same situation and giving your MP a really hard time collectively.
221
11/12/2020 14:52:01 6 5
bbc
Half a story. How much have you earned in all your working life, how much have you saved or have you blown all the money away on luxuries?
232
11/12/2020 15:19:34 14 6
bbc
Feel your pain. My small biz went from turning over just shy of £8k a month supporting me, 1 full timer and 5 part timers to about £2k a month, which didn’t cover costs. Now scraping by sharing my partners income. To the people coming up with comments like ‘should’ve saved up instead of spending on luxuries’ - we small biz owners don’t bath in cash like you think we do unfortunately ??????
242
11/12/2020 15:53:09 15 0
bbc
I'm sorry for your predicament. But this article is about the banks having sufficient resilience in their balance sheets to withstand another economic downturn. The reason the government bailed some of them out was because a systemic collapse of the banking system would have destroyed the UK economy. This article is saying that it should not be necessary again. That's good news for everyone.
Removed
264
11/12/2020 16:54:28 0 0
bbc
Feel for you Michele, and those in a similar situation.

What lessons COULD be learned from this pandemic is a benign question, the real question is what WILL be learned.

The deliverables from COULD are many, but the reality of WILL is nothing will be improved.

The injustice is that we taxpayers pay for an outdated political system and the failing MPs employed within that system.

Good Luck
272
11/12/2020 17:14:49 0 0
bbc
Agree. Mind if I were you I would consider moving... small investment so you can move somewhere with lower costs would certainly be worth it. Perhaps even abroad.
295
11/12/2020 20:00:40 1 0
bbc
There are no trillionaires.
325
12/12/2020 05:29:11 0 0
bbc
And what do we expect a bank to do....give or loan money to people and businesses that have no hope of repaying it? Would you...and don't say yes!
351
12/12/2020 14:33:16 2 0
bbc
Unfortunately Sunak’s help has been very badly targeted, actually it hasn’t been targeted........ The most depressing thing is once your back on your feet and earning money you will be taxed even more to pay for Sunak’s ridiculous and non targeted help, namely those who have abused it by furloughing staff, only to really be working from home and SE getting £30K even though busy ??
376
12/12/2020 20:42:15 0 0
bbc
Good grief that's awful, we too are on Occ Pensions with a mortgage leaving us similar to you. I don't want to be rich but like you we want to get by.
81
11/12/2020 10:28:46 3 0
bbc
They always do - as the base rate interest is set by the bank - any change it makes has an effect on all variable mortgages - the BoE watch and check changes in the market etc - n with the Govt requirement to control inflation - by the use of interest rates - through controls of spending n saving - the Bank has a massive effect n interest in mortgages - and as banks borrow off BoE etc again it...
92
11/12/2020 10:35:45 1 2
bbc
I am aware of that but House Prices isn't in Inflation figures until go down, their remit was supposed to be inflation / economy not fixated on House Prices.
But when you end up with an Economy based on House Price Inflation it becomes a little difficult.
Still end up paying many £Millions in dividends and bonuses and good old BOE will come along with another £200,000,000,000 of our money
100
11/12/2020 10:47:42 1 1
bbc
You really don't understand qualitative easing do you...
34
11/12/2020 10:07:39 3 7
bbc
How do you prepare for 10 - 50% tariffs on your goods making them uncompetitive?? The obvious way is to move your production overseas to a tariff free country. Or you hang fire, especially when the Government has told you that they will get a "good deal". The only management to blame is the one running the country??
93
11/12/2020 10:35:47 1 0
bbc
In honesty pwcork, I don't know in any detail. But I'm not pulling down £mms because of my great ability to manage and mitigate risk.

The banks seem to have managed and I don't think that is because they had it esay. So there is probably some mix of things the other companies could have done but didn't and things they simply couldn't control.
94
11/12/2020 10:37:56 1 2
bbc
Our banks are prepared, 2008 lessons learned, confident of lending through the Covid pandemic and Brexit opportunity, even to get on with levelling-up regions for a world-beating UK, to deliver even the socio-economic, geopolitical and environmental hopes mocked from JC4PM: all thanks to a phenomenal No-deal Deal on its way from oven to global portfolio for an ERG-Tory New Year the greatest ever.
97
11/12/2020 10:42:50 2 0
bbc
Wrong, if not actually delusional, on almost every point.
99
11/12/2020 10:45:07 2 0
bbc
I can't work out whether this is satire or simply laughable...
56
11/12/2020 10:17:29 17 5
bbc
But OAPs can't on the almost zero interest rate imposed by the bank. Banks can survive, because they charge huge interest when they loan money to the public. I cannot see why, when the lender is a bank, the 'sky's the limit' on interest, but when the lender is an individual, he or she should not expect the same!
95
11/12/2020 10:39:31 5 2
bbc
If you have money you dont need to borrow it - if you dont n you need something - you can choose - save / borrow. Banks have limited funds from investors, n depositors or money earned in large from business - then they lend it out -they lend to fewer people than there are depositors - the interest spreads out more thinly - n a large bit back to those who put in the larger risk funding... help?
146
11/12/2020 11:23:51 1 0
bbc
Banks do not have limited funds. They use the magic of fractional reserve lending to create money out of nothing. Then they charge interest on it, put the loan down as an asset on their ledger so they can lend out the same money again.
260
11/12/2020 16:46:23 0 1
bbc
Thats inaccurate in so many ways. You need to do some research. https://youtu.be/fglStqKJH_E
49
11/12/2020 10:13:51 4 3
bbc
The City of London prevails as a global financial services centre.

Never been in doubt!

??????
96
11/12/2020 10:40:41 1 0
bbc
Or is it a BoE trying to stem any panic of its EU based investors - pulling out to EU to reinvest - the pound looks sooo healthy.
94
11/12/2020 10:37:56 1 2
bbc
Our banks are prepared, 2008 lessons learned, confident of lending through the Covid pandemic and Brexit opportunity, even to get on with levelling-up regions for a world-beating UK, to deliver even the socio-economic, geopolitical and environmental hopes mocked from JC4PM: all thanks to a phenomenal No-deal Deal on its way from oven to global portfolio for an ERG-Tory New Year the greatest ever.
97
11/12/2020 10:42:50 2 0
bbc
Wrong, if not actually delusional, on almost every point.
89
Bob
11/12/2020 10:33:04 6 2
bbc
"Banks are fleecing customers with high bank shares"

What does that even mean??
98
11/12/2020 10:42:53 1 2
bbc
Predictive text is a pain in the neck. Just for you Bob....yet the Banks are fleecing customers with high bank charges and expensive loans.
107
Bob
11/12/2020 11:00:19 2 0
bbc
Ah, caught by the predictive text devil ??
Thanks for clarifying!
94
11/12/2020 10:37:56 1 2
bbc
Our banks are prepared, 2008 lessons learned, confident of lending through the Covid pandemic and Brexit opportunity, even to get on with levelling-up regions for a world-beating UK, to deliver even the socio-economic, geopolitical and environmental hopes mocked from JC4PM: all thanks to a phenomenal No-deal Deal on its way from oven to global portfolio for an ERG-Tory New Year the greatest ever.
99
11/12/2020 10:45:07 2 0
bbc
I can't work out whether this is satire or simply laughable...
102
11/12/2020 10:50:26 1 0
bbc
Well half-spotted!
92
11/12/2020 10:35:45 1 2
bbc
I am aware of that but House Prices isn't in Inflation figures until go down, their remit was supposed to be inflation / economy not fixated on House Prices.
But when you end up with an Economy based on House Price Inflation it becomes a little difficult.
Still end up paying many £Millions in dividends and bonuses and good old BOE will come along with another £200,000,000,000 of our money
100
11/12/2020 10:47:42 1 1
bbc
You really don't understand qualitative easing do you...