Why did the bank of England close today?

[sheme]

http://www.theguardian.com/business/live/2014/oct/20/stock-markets-recover-japan-nikkei-ftse-business-live


Is this the beginning of the end of the Banks- Or just a hiccough.

A Curious day in the life of the Bank of England-

[ghostrider]

There was a banking collapse exercise in the U.S recently ... some are saying watch the stock market , if it goes down 1,000 points , keep cash on you , they could wreak havoc closing banks and ATMs ... people would panic ... don't know if it is connected but the air has been way to calm lately ... heads up

[indigopete]

There was a banking collapse exercise in the U.S recently ... some are saying watch the stock market , if it goes down 1,000 points , keep cash on you , they could wreak havoc closing banks and ATMs ... people would panic ... don't know if it is connected but the air has been way to calm lately ... heads up

Why would the stockmarket decline impact the banks ?

Aren't the more vulnerable to a bond meltdown or even default ? (In which case a flight out of stocks into bonds is surely a good think for banks).

[Baby Steps]

Do not make the mistake of thinking that the Ukraine situation is winding down. Lavrov's latest speech indicates that Russia is under more pressure than ever-probably due to the oil price.I wonder what options they are considering? More alien & 9/11 disclosure hopefully

[778 neighbour of some guy]

End of the month is approaching, paychecks are coming in, not nice when they do these exercises, in case something gets wrong, free money for the banksters.

[ghostrider]

There was a banking collapse exercise in the U.S recently ... some are saying watch the stock market , if it goes down 1,000 points , keep cash on you , they could wreak havoc closing banks and ATMs ... people would panic ... don't know if it is connected but the air has been way to calm lately ... heads up

Why would the stockmarket decline impact the banks ?

Aren't the more vulnerable to a bond meltdown or even default ? (In which case a flight out of stocks into bonds is surely a good think for banks).
because banks take the days deposit into one large account and gamble on the stock market while you sleep , then in the morning they put the money back and keep the interest , it's why CEO's of banks are stressed out all the time ... the whole reason for bailouts , they lose on the market and need to be propped up or merged ...

[avid]

Go back a bit - to 13th October, and a "too big to fail" exercise - it didn't go 'live' then......
http://www.independent.co.uk/news/business/uk-and-us-play-out-financial-war-game-to-test-response-to-collapse-of-bank-considered-too-big-to-fail-9790751.html


Financial chiefs from the UK and the US were today due to take part in a "war game" to gauge how they would respond to the collapse of a huge multi-national bank.

Chancellor George Osborne and Bank of England governor Mark Carney were expected to join US Treasury secretary Jacob Lew and Federal Reserve chairwoman Janet Yellen for the exercise, which was due to be held behind closed doors in Washington.

Finance ministers and central bankers from around the globe have been in the city this weekend for meetings of the International Monetary Fund and World Bank, which wrapped up on Sunday.

Earlier, finance ministers from the world's largest economies had met to address continuing efforts to strengthen financial regulation to prevent a repeat of the 2008 financial crisis.

Today's exercise has been designed to test whether the new rules for regulating banks would work following the collapse of a bank considered too big to fail, The Guardian reported.

According to the paper, Mr Osborne said: "We will work through how we would respond to the failure of a cross-border firm. We are going to make sure we could handle an institution previously regarded as too big to fail."

G20 finance ministers and central bank presidents met for talks in advance of the annual meetings of the 188-nation IMF and its sister lending institution, the World Bank.

Following two days of discussions, the G20 finance ministers unveiled plans for a world initiative, to build roads and other infrastructure projects to help boost global growth by two trillion dollars (£1.25tn) over the next five years and create millions of jobs.

They have however conceded that this will not help with the pressing problems of weak growth in Europe and other parts of the world.

Mr Lew said governments in Europe, Japan and China were failing to deliver needed support.

There have been many rumours in the last week that the FED has been bankrupted, Obama has sold out to China, and nationalist currencies are being reinstated in Euro territories. Neil Keenan has been quoted over many websites, there is no smoke without fire. I do suspect there is a major 're-adjustment' afoot, and hope there is no crash, due to oil pricing shenanigans. There are plenty of energy and mineral resources in the world to stop this panic, and to stop the fracking of planet earth. We are being caught in a global corporate battle for power of the global economy. Let's get away from giant corrupt 'united states' in this world, and go back to localised fair-deals, in sympathy with each areas special environments.

[Cardillac]

none of us is really aware of what is going on in the financial world because none of us are insiders; just recently (like last week) here in Germany the Volksbank/Raiffeisen bank group's ATMs (2nd only to the Deutsche Bank- ohh, maybe throw in the Commerz Bank along with it) were down and not accessible for 24 hrs. and after the 'repairing' it now takes much, much more time for these ATMs to process one's bank/credit card's requests in order to withdraw one's money from one's own bank account- so where is suddenly the problem?- and why the previously unknown delay?-

I certainly don't have the answer but I think we can safely assume something huge is going on in the financial world and none of us have been invited to the party-

Larry

[sigma6]

If you have money it might be an excellent time to take short positions on the Dow... and hold for the intermediate