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Old 10.10.2008, 20:28
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Shall I tansfer GBP to canton bank for safe keeping

I have a UK internet buisness with some capital I want to protect, I bank with Barclays in the UK. I have a chalet in Vercorin and have a mortgage with UBS. I have a GBP account with UBS but do not want to transfer money to my UBS GBP account. I have opened another GBP swiss account with a local bank called Raiffeisen. Will my capital 80-100k chf be safe?
Love to here you thoughts
Thanks in advance
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Old 17.10.2008, 14:50
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Re: Shall I tansfer GBP to canton bank for safe keeping

No-one can tell you any bank will be safe. You need to look at the balance sheet and make a determination for yourself.

However according to reports Monday, Raffeisen are currently receiving 100 Mio a month in new accounts as capital flies out from UBS and CS.
Apparently they can't open accounts fast enough if you can believe that.

For example you could say UBS are "safer" as they've received 6 Bio at 12.5% preference share terms which values every franc at 87.5c. That might be worth more than the 10 Bio of toxic assets in the "Bad Bank" right now.
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