Cash machines were monitored every hour during banking crisis
City watchdogs were monitoring cash withdrawals from Royal Bank of Scotland every hour during the height of the banking crisis, the Guardian can reveal.
The Financial Services Authority demanded 60-minute updates on cash flooding out of the bank's branches and hole-in-the-wall machines in the days before Britain's historic bank bailout, which took place a year ago.
The regulators stepped up their surveillance after realising that confidence was draining from the banking system following the collapse of Lehman Brothers a month earlier, and that customers were concerned about the safety of their deposits.
The chancellor, Alistair Darling, sanctioned the government's taking a 70% stake in RBS, and 43% in the combined Lloyds and HBOS, after a series of frantic round-the-clock meetings that weekend. A year on, those shareholdings are creating a £4bn paper loss for the government.
The taxpayer breaks even when Lloyds shares rise through 122.6p and those in RBS trade above 50.5p. On Friday, the banks' shares closed at 94p and 48.34p respectively.
The Guardian has learnt that a year ago the City regulator was so concerned about customers' fears over the soundness of RBS that withdrawals on the high street were being scrutinised hourly, as well as the activities of big business and rival banks, which were also losing confidence in the troubled bank.
READ MORE
http://www.guardian.co.uk/business/2009/oct/11/banking-crisis-one-year-on
Comment
"Destroying the New World Order"
THANK YOU FOR SUPPORTING THE SITE!
Latest Activity
- Top News
- Everything
Catherine Fitts: Epstein, CIA Black Budget, the Control Grid, and the Banks’ Role in War
Programmable digital currency is the final piece of the global control grid that’s finally snapping into place. Catherine Austin Fitts on how to defeat it. C...
Ключові слова в тексті: як органічно їх вписати в статтю
Що таке ключові слова і чому вони важливіКлючові слова — це слова або фрази, які користувачі…See More
Orwell - Football, Beer & Gambling
"kalau kamu cari tentang trik dan tips main slot online biar gampang menang, coba cek di situs…"
I, Pet Goat VI by - Seymour Studios | I, Pet Goat 6
I, Pet Goat VI by - Seymour Studios | I, Pet Goat 6It's time for great JihadI presented the events in the Middle East as an animated short film based on the ...
Official Trailer NOVA '78 directed by Aaron Brookner and Rodrigo Areias
NOVA '78 is a documentary about New York City's 1978 Nova Convention, the legendary counterculture gathering featuring William S. Burroughs, Patti Smith, Fra...
Peter Sellers - The Party (opening scene)
HQ HD "Does that include television sir ?" ... is still the best trolling paradigm in a movie.Support this channel: https://www.patreon.com/MusicPoints#Pet...
© 2026 Created by truth.
Powered by
You need to be a member of 12160 Social Network to add comments!
Join 12160 Social Network