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Bank Watch ...
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johnhemming2



Joined: 30 Jun 2015
Posts: 1969

PostPosted: Thu Aug 11, 2016 7:39 am    Post subject: Reply with quote

OK so it was 96%. I really don't think the bank will pay "any price", however.
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raspberry-blower



Joined: 14 Mar 2009
Posts: 1452

PostPosted: Thu Aug 11, 2016 10:35 am    Post subject: Reply with quote

johnhemming2 wrote:
OK so it was 96%. I really don't think the bank will pay "any price", however.


What message do you think that will send out to the Bond Markets?
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johnhemming2



Joined: 30 Jun 2015
Posts: 1969

PostPosted: Thu Aug 11, 2016 10:39 am    Post subject: Reply with quote

Yields are going to be low
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raspberry-blower



Joined: 14 Mar 2009
Posts: 1452

PostPosted: Thu Aug 11, 2016 11:45 am    Post subject: Reply with quote

johnhemming2 wrote:
Yields are going to be low

That was already well know to the market
Give you a clue:
It involves the word "confidence" and the name "Mark Carney"
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johnhemming2



Joined: 30 Jun 2015
Posts: 1969

PostPosted: Thu Aug 11, 2016 12:34 pm    Post subject: Reply with quote

I don't think the bank should pay any price. The second auction which was bigger has AFAIK been over subscribed. Were I to be a seller I would not wish to participate in the first round of something like this if there is a 1-3% uncertainty as to the price to be paid.
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woodburner



Joined: 06 Apr 2009
Posts: 3376

PostPosted: Thu Aug 11, 2016 12:46 pm    Post subject: Reply with quote

Carney was out of his depth as soon as he started at the BOE.

Stupid gimmics like plastic bank notes, which have a shorter life, and are more difficult to handle than paper. I percieve a health hazard too, since plastic attracts oils and fats, so there will be a good mechanism for disease spread. Rather like having a load of charged petri dishes in your pocket.
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johnhemming2



Joined: 30 Jun 2015
Posts: 1969

PostPosted: Thu Aug 11, 2016 4:01 pm    Post subject: Reply with quote

I don't have a strong view on plastic bank notes. Otherwise he seems OK to me.
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fuzzy



Joined: 29 Nov 2013
Posts: 593
Location: The Marches, UK

PostPosted: Thu Aug 11, 2016 7:38 pm    Post subject: Reply with quote

I was using canadian plastic notes last week. Apart from the ugly Saxe coburg portrait, I thought they seemed excellent.
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raspberry-blower



Joined: 14 Mar 2009
Posts: 1452

PostPosted: Thu Oct 13, 2016 12:59 pm    Post subject: Reply with quote

Ian Fraser: Making it happen

Where Making it happen equates to financial terrorism

Ian Fraser wrote:
data dump of thousands of RBS documents leaked to Buzzfeed News and the BBC has demonstrated that the bank had a policy of pushing small business customer firms to the wall in order to grow its own profits, increase bonuses for staff and rebuild its tattered balance sheet in the wake of its near collapse. There have been many, many credible reports such activity – essentially killing viable businesses for profit – over the past five years or so but, as the former business secretary Vince Cable told Newsnight last night, “there is now a smoking gun”.

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snow hope



Joined: 24 Nov 2005
Posts: 4105
Location: outside Belfast, N Ireland

PostPosted: Fri Oct 14, 2016 11:41 am    Post subject: Reply with quote

Evil or Very Mad

That makes me mad. We really need a lot of lampposts... Sad

Which is a terrible thing to say, but terrible crimes need terrible responses.
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adam2
Site Admin


Joined: 02 Jul 2007
Posts: 6208
Location: North Somerset

PostPosted: Mon Nov 07, 2016 9:26 pm    Post subject: Reply with quote

Not looking very good at Tesco bank !

http://www.bbc.co.uk/news/business-37891742

This looks like a cyber attack/large scale theft, rather than a want of money in the style of various banks that have to be bailed out.

The effect on the unfortunate customers is much the same, no or limited access to their own money.
Let this be another reminder to keep some cash to hand.
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DN65AF



Joined: 02 May 2010
Posts: 9

PostPosted: Tue Nov 08, 2016 9:39 am    Post subject: Reply with quote

It seems like a very concentrated attack on a specific section of Tesco's current account customers.
Figures being quoted are 20000 customers affected in some way out of their 138000 current account customer base.
The attack clearly timed over the weekend and for those numbers of accounts to be "done over" in such a short period we are looking at an automated attacking vector.

As to the source of the hack I'd be looking at the card manufacturing plant/processor for a leak of a whole batch of card details at some point in the issuing process.
I'd doubt this comes from any IT failure of Tesco's online web access platform particularly as some who report they have had their accounts thieved say they have never used the cards ever in any transaction.
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johnhemming2



Joined: 30 Jun 2015
Posts: 1969

PostPosted: Tue Nov 08, 2016 11:53 am    Post subject: Reply with quote

It is a difficult sort of attack to avoid being caught out. There are clear records as to where the money has gone so it is difficult to understand how someone gets away with this.
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Little John



Joined: 08 Mar 2008
Posts: 5666
Location: UK

PostPosted: Tue Nov 08, 2016 11:59 am    Post subject: Reply with quote

There are many ways to launder money:

http://uk.businessinsider.com/beginners-guide-to-money-laundering-2014-10?r=US&IR=T
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johnhemming2



Joined: 30 Jun 2015
Posts: 1969

PostPosted: Tue Nov 08, 2016 12:41 pm    Post subject: Reply with quote

You need to get it in cash first.
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