NatWest stop payments to its customers at the end of last month, June 2012. This glitch is nearing three weeks now.
The writer is suggesting that NatWest was hit with liquidity problems and now the largest Russian bank is also hit with liquidity problems. Both banks have used same excuse, a convenient computer glitch.
And if one read the other thread I started, BOE hinting UK banks short on capital and £50 billion newly printed money introduced in the banking system, things become clearer.
RBS’ NatWest, whose banking ‘glitch’ (which began only days after RBS’ downgrade) is now nearing 3 weeks with officials now stating accounts will not be functioning until the end of July!
It appears that either NatWest’s IT problems have gone viral, or else Sberbank has also been impacted by margin calls/ liquidity concerns, as the largest Russian bank has halted credit and debit card transactions due to an ‘IT glitch’.
RUSSIA-SBERBANK-CARDS-MALFUNCTION MOSCOW. July 6. (Interfax) – Sberbank of Russia (RTS: SBER) has suspended credit and debit card operations due to a technical malfunction, the bank told Interfax. “All cards are not being serviced,” it said.Something tells us that Irish and Russian physical gold and silver holders are not experiencing ‘IT glitches’ evaporating their holdings.