Superb post on the banking crisis
Mar. 14th, 2023 11:22 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
lovingbothLots of his stuff is worth reading, but this one is particularly great.
Even if for obvious reasons it is tied to the US banking system, the basic points apply in the UK too. We have considerably fewer banks than the US.. and considerably smaller deposit protection limits. Here, they also only apply to banking groups rather than 'banks', so if you have a First Direct account and an HSBC account, you only get one lot of protection, ditto for Nat West and the others in the RBS group.
Even if for obvious reasons it is tied to the US banking system, the basic points apply in the UK too. We have considerably fewer banks than the US.. and considerably smaller deposit protection limits. Here, they also only apply to banking groups rather than 'banks', so if you have a First Direct account and an HSBC account, you only get one lot of protection, ditto for Nat West and the others in the RBS group.