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The health of 15 of the world's largest financial institutions was called into serious question Thursday, as Moody's downgraded their credit ratings, citing exposure to losses and Europe's economic woes. Moody's said, in essence, that the banks' business risked massive losses and that they were exposed to the roiling financial crisis and each other. The 15 banks downgraded were: Bank of America, Barclays, Citigroup, Credit Suisse, Goldman Sachs, HSBC, JPMorgan Chase, Morgan Stanley, Royal Bank of Scotland, BNP Paribas, Credit Agricole, Deutsche Bank, Royal Bank of Canada, Societe Generale and UBS. http://business.asiaone.com/Business/News/Story/A1Story20120622-354642.html
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Moody's Investors Service has lowered the credit ratings on some of the world's biggest banks, including Bank of America, JPMorgan Chase and Goldman Sachs, reflecting concern over their exposure to the violent swings in global financial markets.
The downgrades late Thursday ultimately are a measure of Moody's view on the ability of the banks to repay their debts. The ratings agency also cut its ratings on Barclays, Deutsche Bank and HSBC, some of the largest banks in Europe, a region fighting to contain a government debt crisis. http://finance.yahoo.com/news/moodys-sees-big-banks-risks-040708171.html
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I can open a new ISA account in Barclays on my mum's behalf but it seems I can't arrange an overdraft on her current account, this must be done by the account owner! I find this very strange as I have a power of attorney, registered with the OPG that the bank are aware of and in any case she is mentally incapable, thats why we got the POA, to act on her behalf! Spoken with two numpties in the branch and have now made written complaint. Time to explore other high street banks.
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