JohnL Wrote:
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> robbin Wrote:
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> [
uk.reuters.com]
>
> >
> /uk-banks-strong-enough-to-weather-no-deal-brexit-
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> > says-moodys-idUKKCN1QG2BP
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>
> Thanks Robbin - not a political point this time -
> A fair amount of money from inheritance being held
> by a close relative in what I think may be a
> single account.
Depending on the amount on deposit it might be worth splitting it across a few different banks/building socs so as to have the benefit of FSCS government insurance for each deposit - it used to be up to £85,000 cover for each customer per bank (not per account) - not sure what it is now. I've divided my kids savings like that as I don't want it all disappearing in a puff of smoke if there's another crash (nothing to do with Brexit though - that was pre-referendum) -it just makes sense. Be careful though - the £85k is the limit per bank so you could get several multiples of £85k insurance protection by depositing in several different banks, but make sure they are not operating under the same banking licence as it is actually £85k per licence, so banks in the same group count as one bank.
Of course if Italian banks crash they are seriously (and dangerously) inter-related, unlike ours, so if one goes, several might well follow within hours or a few days and there is always a knock on effect because foreign banks loan all over the place (i.e. British banks will have loan book exposure in Italy) so that can cause probs. But the banks have been alive to the fact that Italy has been teetering on the brink of a financial system collapse for 2 years now and so have been positioning themselves accordingly so as to limit exposure.
It's a funny old world in banking, so you can never rule anything out with complete certainty (as we have seen in the past) but Brexit alone is not a cause for concern in isolation IMO (for what that's worth). I realise though, that most people on here don't agree with me and/or think I talk nothing but
[email protected]*cks, so you might want to factor that in as well.
Edited 1 time(s). Last edit was march 21, 07:37pm by robbin.