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Nationwide
Let off: The FSA has decided that Nationwide's balance sheet is strong enough

The balance tips in Nationwide's favour

5 Mar 2009


Nationwide building society has been let off having to raise extra capital to bolster its balance sheet.

It agreed in October to increase its capital by £500 million alongside all the banks.

But the Financial Services Authority has decided that, after a big inflow of savings, Nationwide's balance sheet is strong enough.

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And they are now charging us for using their cards etc abroad.
Will probably be 5 - 10,000 of us (per overseas country) withdrawing our deposits from them, as well as cancelling our accounts.

- Tim, Malaga, Spain, 06/03/2009 02:24
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