• From The BBC:

    The flight to safety by savers who lost faith in the traditional banking sector is over, government-backed National Savings & Investments (NS&I) has said.NS&I, which runs Premium Bonds and a variety of savings products, said in its annual report it had been hurt by a return of confidence in banks. Customers ploughed money into NS&I at the height of the crisis because they saw it as a haven for savings. But in the past three months, they have withdrawn more than they have put in. NS&I, which sees its profits go to the Treasury, experienced inflows of £26bn in the 2008-9 financial year and reported a £12.5bn net financing surplus. But it said there was now a “more challenging savings environment”, as it reported £4.5bn in gross outflows of cash in the three months to the end of June, which outstripped inflows of £3.2bn over the same quarter. CrisisAt the height of the global financial crisis last September, savers were dividing and moving their…

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    Posted by Jon @ 12:36 pm

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