angelburst29
The Living Force
A series of computer glitches leave some UK customers unable to access their money.
Thousands of Barclays and Nationwide customers hit by IT glitch leaving them unable to access their money
_http://www.dailymail.co.uk/news/article-2681341/Thousands-Barclays-Nationwide-customers-hit-IT-glitch-leaving-unable-access-money.html
Saturday July 5, 2014 - Thousands of frustrated banking customers found themselves unable to access their money yesterday after the latest in a series of computer glitches.
The IT problems affected Barclays and Nationwide, which together serve nearly 30million people in the UK.
Angry consumers complained they had been unable to pay mortgage bills, transfer funds to their children or buy groceries.
Barclays’ technical fault happened from about 3pm and prevented some people taking cash from machines or completing purchases.
Customer Karleen Smith wrote on Twitter: ‘Been to Sainsbury’s and debit card won’t work.’
A Barclays spokesman said: ‘We would like to apologise to those affected.’ Nationwide’s computer problems left some customers temporarily locked out of online banking.
The issue was spotted at 7am and lasted all day.
The building society stressed that all of its customers’ banking details were safe.
In December, 750,000 NatWest, RBS and Ulster Bank customers could not use their debit cards for three hours on the biggest online shopping day of the year.
Largest Austrian Bank Crashes After “Revealing” 40% Surge In Bad Debt Provisions, Record Loss
_http://www.zerohedge.com/news/2014-07-04/stock-largest-austrian-bank-crashes-after-revealing-40-surge-bad-debt-provisions-rec
Ever since 2012, when we first revealed that the biggest problem plaguing Europe's financial sector is the $2 trillion+ in bad debt on the books of European banks (not our numbers, the IMF's), it became clear that the only way Europe can avoid a complete financial meltdown coupled with currency disintegration, is if it can constantly keep rolling over said bad debt (obviously the only way to do that would be to create an epic debt bubble leading managers of other people's money to do idiotic things like buy Spanish debt at 2.75%). This is why not only the BOJ launched its mega QE in 2013, but why Draghi also kicked in with NIRP a month ago: the logic - do anything and everything to reflate the biggest credit bubble possible as otherwise European banks will have no choice but to face up to their trillions in bad loans.
Unfortunately for some banks, especially those which operate in Europe's supposedly highest-rated country, Austria, sometimes just being able to kick the can is not enough as on occasion a law will change, having the unintended consequence of forcing the bank to admit just how ugly its balance sheet truly is. That's what happened overnight when Erste Group, Austria's largest bank by assets, and the third biggest bank in Eastern Europe after UniCredit and Raiffeisen, announced that, oops, its earlier forecast about the amount of bad loans on its books is wrong, and will have to rise by a massive 40%, leading to what will be a record $2.2 billion loss, and triggering writedowns.
Thousands of Barclays and Nationwide customers hit by IT glitch leaving them unable to access their money
_http://www.dailymail.co.uk/news/article-2681341/Thousands-Barclays-Nationwide-customers-hit-IT-glitch-leaving-unable-access-money.html
Saturday July 5, 2014 - Thousands of frustrated banking customers found themselves unable to access their money yesterday after the latest in a series of computer glitches.
The IT problems affected Barclays and Nationwide, which together serve nearly 30million people in the UK.
Angry consumers complained they had been unable to pay mortgage bills, transfer funds to their children or buy groceries.
Barclays’ technical fault happened from about 3pm and prevented some people taking cash from machines or completing purchases.
Customer Karleen Smith wrote on Twitter: ‘Been to Sainsbury’s and debit card won’t work.’
A Barclays spokesman said: ‘We would like to apologise to those affected.’ Nationwide’s computer problems left some customers temporarily locked out of online banking.
The issue was spotted at 7am and lasted all day.
The building society stressed that all of its customers’ banking details were safe.
In December, 750,000 NatWest, RBS and Ulster Bank customers could not use their debit cards for three hours on the biggest online shopping day of the year.
Largest Austrian Bank Crashes After “Revealing” 40% Surge In Bad Debt Provisions, Record Loss
_http://www.zerohedge.com/news/2014-07-04/stock-largest-austrian-bank-crashes-after-revealing-40-surge-bad-debt-provisions-rec
Ever since 2012, when we first revealed that the biggest problem plaguing Europe's financial sector is the $2 trillion+ in bad debt on the books of European banks (not our numbers, the IMF's), it became clear that the only way Europe can avoid a complete financial meltdown coupled with currency disintegration, is if it can constantly keep rolling over said bad debt (obviously the only way to do that would be to create an epic debt bubble leading managers of other people's money to do idiotic things like buy Spanish debt at 2.75%). This is why not only the BOJ launched its mega QE in 2013, but why Draghi also kicked in with NIRP a month ago: the logic - do anything and everything to reflate the biggest credit bubble possible as otherwise European banks will have no choice but to face up to their trillions in bad loans.
Unfortunately for some banks, especially those which operate in Europe's supposedly highest-rated country, Austria, sometimes just being able to kick the can is not enough as on occasion a law will change, having the unintended consequence of forcing the bank to admit just how ugly its balance sheet truly is. That's what happened overnight when Erste Group, Austria's largest bank by assets, and the third biggest bank in Eastern Europe after UniCredit and Raiffeisen, announced that, oops, its earlier forecast about the amount of bad loans on its books is wrong, and will have to rise by a massive 40%, leading to what will be a record $2.2 billion loss, and triggering writedowns.
