Tuesday September 22, 2020

Bank credit rating system points to security of savings

The run on British bank Northern Rock in recent weeks is likely to renew the focus of depositors on the safety of deposit-taking institutions, as well as the rate of the return they offer on money deposited with them.

22nd September, 2007

The run on British bank Northern Rock in recent weeks is likely to renew the focus of depositors on the safety of deposit-taking institutions, as well as the rate of the return they offer on money deposited with them.

Savers may be curious to know what the credit rating of their bank is. While not written with the lay person in mind, credit ratings nevertheless may be useful.

The key measure is the bank’s long-term...

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