UK monitored ATMs during peak of crash last year

It makes sense but still pretty amazing. In the coming years I’m sure we will be finding out much more about the inner workings of monitoring the crisis. It’s likely few details will be revealed until the moment has past and all controversy is gone. (In other words, expect details around 2020.) The Guardian:

City watchdogs were monitoring cash withdrawals from Royal Bank of Scotland every hour during the height of the banking crisis, the Guardian can reveal.

The Financial Services Authority demanded 60-minute updates on cash flooding out of the bank’s branches and hole-in-the-wall machines in the days before Britain’s historic bank bailout, which took place a year ago.

The regulators stepped up their surveillance after realising that confidence was draining from the banking system following the collapse of Lehman Brothers a month earlier, and that customers were concerned about the safety of their deposits.

An American in Paris, France. BA in History & Political Science from Ohio State. Provided consulting services to US software startups, launching new business overseas that have both IPO’d and sold to well-known global software companies. Currently launching a new cloud-based startup. Full bio here.

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