Banking
Northern Rock - no reason to worry
The British Bankers' Association said: The Northern Rock is a sound and safe bank and there is absolutely no reason for either mortgage customers or savers to worry.
More mobiles than people in Britain today
There are now more mobile phones than people in the UK, according to research released by first direct. The country’s 45 million adults share almost 70 million mobile SIM cards (phone numbers) and over 71 million handsets - an average of 1.6 mobiles per adult in the UK today.
Bank of England's emergency funding to Northern Rock
Commenting on the Bank of England’s move to give emergency funding to Northern Rock, Kevin Mountford, head of savings at moneysupermarket.com, said: “This is not a time for savers to panic and withdraw their cash from Northern Rock.
Co-operative Bank donates over £2m to Amnesty International
Amnesty International has received a record £2 million from caring Co-operative Bank customers.
Chelsea strong in current market conditions
Chelsea is one of the most efficient building societies in the country and hugely successful at what we do, lending safely and providing a secure home for people’s savings.
Liquidity support facility for Northern Rock
The Chancellor of the Exchequer has today authorised the Bank of England to provide a liquidity support facility to Northern Rock against appropriate collateral and at an interest rate premium.
CML comments on Northern Rock
Responding to the joint press release from the Bank of England, HM Treasury and the FSA, the Council of Mortgage Lenders emphasises that the issue facing lenders at the moment is one of liquidity and funding, not lending quality.
BBA welcomes customer satisfaction report
The British Bankers' Association has welcomed new research showing that the vast majority of customers are satisfied with their bank.
BBA LIBOR: Further easing of rates – the first ray of hope for the credit markets?
Sterling BBA LIBOR has dropped today across all maturities. The Overnight rate has dropped to 5.87375 from a peak of 6.2475 per cent on 3rd September. The key three-month Sterling BBA LIBOR rate has dropped again, from 6.90250 to 6.88000.
“Foolish” assertion that banks are better than building societies
Commenting on the Fool.co.uk’s assertion that banks are better than building societies, Nationwide Building Society’s executive director, Stuart Bernau, says: “We completely reject Fool’s assertion that banks are better than building societies.
BBA LIBOR: Signs of easing in the credit markets?
Three month Sterling BBA LIBOR eased back fractionally from its peak today. Having set consecutive highs against the Bank of England base rate since the beginning of the month, the rate eased from 6.90375 to 6.90250 per cent.
Banks are better than Building Societies
Building societies and banks have become so alike that many of us (33%) can’t distinguish between them.
The Co-Operative Bank creates $50m fund for world’s poor
The Co-operative Bank has created a special $50m (£25m) fund in order to support the development of small businesses in some of the world’s poorest countries.
Wills’ time-bomb must be defused
Urgent action is needed to defuse a looming ‘wills’ time-bomb – warns the National Consumer Council (NCC).
Lloyds TSB overdraft changes: a step in the right direction but with a sting in the tail
Lisa Taylor, analyst at moneyfacts.co.uk, comments: “With overdraft charges already in the spotlight, and undoubtedly a target for the Office of FairTrading (OTF) to intervene and impose reductions, Lloyds TSB has been the first off the mark to announce reductions to its fees.