. On Monday, European bank shares rose, boosted by news that First Citizens Bank in the United States would buy most of the assets of Silicon Valley Bank, which collapsed earlier this month. But the rise followed a sharp selloff on Friday, which was led by Deutsche Bank\n \n . “I think there are moves in markets to, if you like, test out firms,” Bailey told a UK parliamentary committee Tuesday. “I would not want to say that those in my estimation are based on identified weakness.
” UK lawmakers questioned Bailey and other Bank of England officials about events surrounding the failures of SVB and Credit Suisse. The Swiss heavyweight was rescued by UBS, while SVB UK was bought by HSBC\n \n for £1 after its US parent was shut by regulators. Bailey said the speed of SVB UK’s collapse had taken him by surprise. “In my experience, which goes back 30 years now, it’s probably the fastest passage from health to death since Barings.
what investor would trust banks now..!!! scince 2007 any other investment is better than banks, gold, property, land, stamps, art, vehicals, diamonds...but definitly not banks........ISA 0.0025% if your lucky and risk/ no way..
its time for Government to take back controls of the bank of england..and throw out the governor bailey...bonus culture still exsists, tax havens, overseas hidaways...more regulation on mortgage lenders..
The law and its enforcement is made as frame work; the banks that behave properly don't need to tell them how to work; they supposed to master money handling and respond to deposits.
Sounds like a perfectly designed system.
How DARE people check to see if their money is safe!