Banks being downgraded tonight
Discussion
It's not just ours and our news people are listing different banks, Sky and The Telegraph say RBS, Barclays and HSBC while the Daily Mail says RBS, Lloyds and Barclays. Others listed in the review as expecting a downgrade are the Royal Bank of Canada, Credit Suisse, Goldman Sachs, Deutsche Bank, Macquarie, BNP Paribas, Credit Agricole, UBS, Morgan Stanley, Citigroup, Societe Generale, Bank of America and Nomura.
FourWheelDrift said:
It's not just ours and our news people are listing different banks, Sky and The Telegraph say RBS, Barclays and HSBC while the Daily Mail says RBS, Lloyds and Barclays. Others listed in the review as expecting a downgrade are the Royal Bank of Canada, Credit Suisse, Goldman Sachs, Deutsche Bank, Macquarie, BNP Paribas, Credit Agricole, UBS, Morgan Stanley, Citigroup, Societe Generale, Bank of America and Nomura.
This isn't really news - Some months ago Moody's forewarned about likely downgrades in their upcoming review of banks...RichyBoy said:
What is this about rbs and natwest online banking down, website issues or more to it?
IT fkup, in banks there is a thing called a batch run every night. This run is effectively all the transaction that need to take place, transfers, payments etc etc. This run is carried out by the mainframe every night and takes a set amount of time. Banks though need to undertake changes to there systems, although these changes may have nothing to with the batch run the batch run can be delayed if for example there is a large network change. The planning normally allows for enough time to undertake the change and if the change fails run any regression to it.What has happened here no doubt is that the change has failed and the regression failed, this means that the batch run can not go ahead until the problem is fixed, very unusual for a bank to undertake a change that is high risk during the week, such changes are normally done on a Saturday. It must have been one hell of fk up in the change though to delay the batch run as this process is the banks No 1 priority, heads will roll big time in IT.
Defcon5 said:
Who are these organisations that 'grade' banks? Why do they exist? Who pays for their services?
The idea is that they are independent agents who give an objective view on the state of an organisation's finances. Banks and other financial services companies (plus sundry others) pay a lot of money to receive this data.Ozzie Osmond said:
Shock headline!
"UK banks not very good at banking!"
UK banks also obviously have domestic issues to deal with, but the fq ups aren't their sole preserve
Murph7355 said:
Ozzie Osmond said:
Shock headline!
"UK banks not very good at banking!"
UK banks also obviously have domestic issues to deal with, but the fq ups aren't their sole preserve
Randy Winkman said:
Barclays? I thought they were doing really well, which was why Diamond got offered a huge bonus?
They are doing well apart from their PPI.The downgrade reflects what the ratings agency thinks of EZ exposure.
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