Oh dear™ oh dear™oh dear™

[RightLaugh]

Right.

I'm off to get my money out of Barclays and HBOS... where does one purchase a money belt these days?

pound stretchers.

[Sysman]

So can one expect some heavy breathing down the phone about my 3 year 5% apr fixed mortgage deal with the NR. "we're losing money on you Mr , hand it back"

More likely is that they'll offer you some "upgrade" to another mortgage which isn't fixed rate. Please don't fall for that.

[Troll]

my father in-law is queing outside northern rock as we speak. He's been waiting nearly an hour to get to a cashier to take all his money out. He says the queues are going out into the street.

and so it begins... a real life run on a bank (building society) not seen one of those since BCCI

[DBA_bloke]

Where's Jimmy Stewart (Wonderful Life) when you need him?

Jimmy's not been returning calls for some time.

[DBA_bloke]

my father in-law is queing outside northern rock as we speak. He's been waiting nearly an hour to get to a cashier to take all his money out. He says the queues are going out into the street.

My previous posts seem a bit frigging stupid, now

[Troll]

Bank runs first appeared as part of cycles of credit expansion and its subsequent contraction. In the 16th century onwards, English goldsmiths issuing promissory notes suffered severe failures due to bad harvests plummeting parts of the country into famine and unrest.

Other examples are the Dutch Tulip manias (1634-1637), the British South Sea Bubble (1717-1719), the French Mississippi Company (1717-1720), 'Post Napoleonic Depression' (1815-1830) and the Great Depression (1929-1939).

Bank runs have also been used to blackmail individuals or governments; for example in 1830 when the British Government under the Duke of Wellington overturned a majority government under the orders of the king, George IV, to prevent reform (the later 1832 Reform Act), he angered reformers and so a run on the banks was threatened under the rallying cry "To stop the Duke go for gold!".

In 2001, during the Argentine economic crisis (1999-2002), a bank run and corralito was experienced in Argentina. There are various theories into the cause [1].

On November 9-12, 2006, Nepal Bangladesh Bank Limited (NB bank) in Nepal suffered a bank run. On November 8, 2006, a Nepalese newspaper reported that NB Bank's 13 billion Nepalese rupees was at severe risk due to misuse of deposits by bank management. This news caused a run on the bank. Depositors withdrew around 3 billion Nepalese rupees during the 3 days of the run. However, after the takeover of bank management by the central bank of Nepal, the run ended.

[FiveTimes]

Oh no, have the problems with NR caused problems with other banks...
I logged onto Alliance & Leicester bank to check the funds have been processed, and I got an error saying there are problems with overnight transfers...

[DBA_bloke]

Bank runs first appeared as part of cycles of credit expansion and its subsequent contraction.

You are Professor Mick Aston, and I claim my 5 Roman denarii.

[Bagpuss]

my father in-law is queing outside northern rock as we speak. He's been waiting nearly an hour to get to a cashier to take all his money out. He says the queues are going out into the street.

Oh Dear indeed, banks work on a credit muliplier, i.e. they won't have all the money available (remember most money in circulation is not cash), if everyone (or lots of people) go to draw out the money they will be in serious trouble and back cap in hand to the BoE for more money.

imagine if this happens to other banks, the BoE will have to print money or raise bonds, Oh dear indeed.

Boomed, house prices on the way up!

[Troll]

ReAlLy.... woa, that would make me nervous I'd be exchanging my account for a spot under the pillow about now.

hope you took your own advice