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Confidence dealt a blow

Posted by Richard Friday, October 07, 2011

This is Moody's Investor Service downgrading the credit ratings of some of Britain's biggest banks. Lloyds Banking Group, Santander UK, Royal Bank of Scotland, Co-operative Bank, Nationwide and seven smaller building societies are affected.

A Lloyds spokesman said: "It is important to note that both the stand-alone rating and short-term ratings remain unchanged. We believe this change will have minimal impact on our funding costs". So that's alright then?

COMMENT: "A FUTILE GESTURE" THREAD