THE Channel Islands Co-operative Society has more than £17m. in current account balances and short-term deposits with the recently downgraded Co-operative Bank, it has disclosed.
DEPOSITS in Guernsey banks crashed by more than £10bn in the last three months of 2012.
HSBC’S decision to close some ex-pat accounts has highlighted the need for a new financial ombudsman, one deputy believes.
A FORMER Guernsey resident has questioned HSBC’s customer loyalty after it told him his local accounts would be closed.
BANKING in the Channel Islands could look considerably different in the next few years, whatever the precise detail of industry reform being promoted by the UK government.
THE UK government has softened its stance towards Guernsey and the other Crown Dependencies over banking reforms.
HSBC is moving part of its Jersey-based business to Guernsey.
A MADEIRAN man who lives and works in the island feels discriminated against after his bank would not let him take out his money without proving what it was for.
STRESS tests of Guernsey’s banking and insurance sectors show they would not be immune from the effects of a significant macroeconomic shock.
NEXT month’s G20 meeting in Toronto will be key in establishing how the European Commission’s plans for a levy to insure against future bank failures might be implemented.
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