Bradford and Bingley: FSA have 3 rescue banks at the ready

Bradford and Bingley have been tipped to be the next “run on the bank”, the UKs financial authorities are so concerned about the future of Bradford and Bingley that they have three banks at the ready for a quick rescue deal.

Although there has been no hard facts that B&B are on the way out, the FSA have asked Spain’s Santander who owns Abbey and HSBC Barclays to be on the guard and stand by ready.

The FSA has called the arrangement a “national Service” according to the Daily Telegraph, which leaves us to believe that ordinarily both HSBC and Santander would not want the deal. Although Bradford and Bingley is not a front-line player, it does still have assets of £52 billion. B&B was originally a building society.

Source: thisismoney

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