Banks. Would you want to know?

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
15/04/2009 12:18

Do you think the Government or the Financial Regulator should reveal data on the health of the banks on a regular basis?



If they kept us informed on say a monthly basis as to how all the banks are fairing would it restore confidence in the financial system without unnerving investors, or would it cause a panic for investors in banks that are not performing that well?

fire starter


Joined: 19/06/2008
Posts: 3401

Message Posted:
15/04/2009 12:56

hi doyen

i think they do give them ratings on a yearly basis. or maybe just as and when?

cornish



Joined: 30/12/2008
Posts: 186

Message Posted:
12/05/2009 13:44

And of course we would trust the Government and the Financial regulators to be totally truthful and forthcoming with the facts. I believe the bank of England was fully aware of the 'nightmare scenario' that all of the UK banks had entered into with their purchasing of risky debt - much of it from the US.



But no one cared as long as the directors bonuses kept coming in!!



Why the directors of the UK banks who failed in their responsibility to have a 'duty of care' to their customers i a mystery but then many of them were Scottish of course - friends of Mr. Broon.

elko2



Joined: 24/07/2007
Posts: 4400

Message Posted:
12/05/2009 14:47

I think all the local banks in TRNC witht he exception of Turkish Bank have given loans and accepted mortgages on land with pre74 GC ownership. Depending on how the Orams case develops, the value of these properties may halve in a short time and thus most of the local banks may be in trouble. There is a further complication that some of these lands have houses built on them and already marketted by the developer i.e. the borrower of the loan may not be interested in paying up and will let the banks fight it out with the buyers in court. All this makes me nervous about the local banks with just a few exceptions.

ismet

sporty


Joined: 06/12/2007
Posts: 685

Message Posted:
12/05/2009 14:51

elko 2,i'm hoping to be purchasing soon,what bank would you recommend out of the local banks to do transactions with and open accounts etc,etc.?

elko2



Joined: 24/07/2007
Posts: 4400

Message Posted:
12/05/2009 16:41

I consider Turkish Basnk as the safest local bank and they do have branches in London. Their internet banking is ridumentary but fine if you just want to check the balances. Their interest rates normally lower than others.

ismet

sporty


Joined: 06/12/2007
Posts: 685

Message Posted:
12/05/2009 16:49

thanks for that elko2.