{"id":1876215,"date":"2023-03-14T07:27:03","date_gmt":"2023-03-14T11:27:03","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/uk-banks-not-seeing-deposit-flight-to-quality-after-svb-collapse-lloyds-ceo\/"},"modified":"2023-03-14T09:54:43","modified_gmt":"2023-03-14T13:54:43","slug":"uk-banks-not-seeing-deposit-flight-to-quality-after-svb-collapse-lloyds-ceo","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/uk-banks-not-seeing-deposit-flight-to-quality-after-svb-collapse-lloyds-ceo\/","title":{"rendered":"UK banks not seeing deposit \u2018flight to quality\u2019 after SVB collapse \u2013 Lloyds CEO"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fuk-banks-not-seeing-deposit-flight-to-quality-after-svb-collapse-lloyds-ceo%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1876215&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>\u00a0<\/p>\n<div class=\"entry-content\">\n<p>Lawrence White and Iain Withers<\/p>\n<p>LONDON (Reuters) \u2013 British banks are not yet seeing a &#8220;flight to quality&#8221; Charlie Nunn, Lloyds chief executive, stated Tuesday that there was a surge in deposits from customers concerned about the safety of their money after the collapse of Silicon Valley Bank.<\/p>\n<p>&#8220;What&#8217;s happened with SVB is relatively idiosyncratic compared to the UK,&#8221; Nunn spoke at a Morgan Stanley event about the collapse of the specialist lender which has caused widespread banking turmoil worldwide and a stock market crash.<\/p>\n<p>As fears of contagion to other lenders grew, shockwaves from the fall of Silicon Valley Bank continued to pound bank stocks in Asia and Europe.<\/p>\n<p>According to the Financial Times, major U.S. banks like JPMorgan and Citigroup saw a surge in customers who wanted to move their accounts to bigger lenders.<\/p>\n<p>&#8220;We haven&#8217;t seen what we&#8217;ve seen in the U.S., which is the flight to quality,&#8221; Nunn. &#8220;But let&#8217;s see how that plays out and we&#8217;ll see how people feel over the next period of time.&#8221;<\/p>\n<p>The U.S. has taken urgent measures to offer banks vulnerable to a ran on deposits special access for additional funding. But assurances by President Joe Biden, and other policymakers, have so far failed to calm markets.<\/p>\n<p>Analysts and investors now expect tweaks to the global interest rate policies in order to keep runaway inflation under control. Any rate hikes will likely affect some bank balances.<\/p>\n<p>(Editing by Sinead Cruis)<\/p>\n<p>\u00a0<\/p>\n<\/div>\n<p>\u00a0<\/p>\n<hr \/>\n<p>&#8220;From <a href=\"https:\/\/www.oann.com\/business\/uk-banks-not-seeing\/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=uk-banks-not-seeing\">UK banks not seeing deposit \u2018flight to quality&#8217; after SVB collapse \u2013 Lloyds CEO<\/a>&#8221;<\/p>\n<hr \/>\n<p><span style=\"font-size: 11px;\"><em>&#8220;The views and opinions expressed here are solely those of the author of the article and not necessarily shared or endorsed by Conservative News Daily&#8221;<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Iain Withers and Lawrence White LONDON (Reuters) \u2013 British banks are not yet seeing a \u201cflight to quality\u201d in deposits among customers nervous about the safe-keeping of their money following the collapse of U.S. lender Silicon Valley Bank last week, Lloyds chief executive Charlie Nunn said on Tuesday. \u201cWhat\u2019s happened with SVB is relatively<\/p>\n","protected":false},"author":1,"featured_media":1889995,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"UK banks not seeing deposit \u2018flight to quality\u2019 after SVB collapse \u2013 Lloyds CEO","footnotes":""},"categories":[542],"tags":[8961,3850,7385,21488,4289,21585,9706,3618,21356],"class_list":["post-1876215","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann","tag-banks","tag-ceo","tag-collapse","tag-deposit","tag-flight","tag-lloyds","tag-quality","tag-riot","tag-svb"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"UK banks not seeing deposit \u2018flight to quality\u2019 after SVB collapse \u2013 Lloyds CEO","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1876215","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1876215"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1876215\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1889995"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1876215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1876215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1876215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}