Where to squirrel away cash?

I was asked earlier which bank would be best to spread cash savings across.

I said that I thought Rabo had the highest rating in Ireland, but didn’t know what other Banks ranked in the top 5.

Anyone know?

I heard Lehmann Brothers are as safe as houses…

No safer place than Northern Rock @ moment as all deposits are guaranteed by Her Majesty’s Government.

Any recommendations for Irish retail banks?

NIB are worth a gander as their deposit protection covers 40k which is way more than the BOI or AIB.

Equivalent Credit Ratings
Credit Risk 	                      Moody's* 	S & P* 	Fitch **      Duff & Phelps**
Highest quality 	                  Aaa 	     AAA 	   AAA           AAA
High quality (very strong) 	       Aa 	      AA 	    AA            AA
Upper medium grade (strong)          A 	       A 	     A 	         A
Medium grade 	                     Baa 	     BBB 	   BBB 	       BBB

Lower medium grade (somewhat spec.)  Ba 	      BB 	    BB 	        BB
Low grade (speculative) 	          B 	       B 	     B 	         B
Poor quality (may default) 	       Caa 	     CCC 	   CCC 	       CCC
Most speculative 	                 Ca 	      CC 	    CC 	        CC
No interest paid or bankruptcy       C 	       C 	     C 	         C
In default 	                       C 	       D 	     D 	         D

* The ratings from Aa to Ca by Moody's may be modified by the addition of a 1, 2 or 3 to show relative standing within the category.

**The ratings from AA to CC by Standard & Poor's, Fitch IBCA and Duff & Phelps may be modified by the addition of a plus or minus sign to show relative standing within the category.


Above link gives a breakdown of the credit ratings of Irish Banks & building societies. may be of some interest

Also be careful with rabodirect.ie they act as an intermediary for other investment funds. I know because I was looking at some of the Merrill Lynch funds (now gone) at one time, but I did not understand how the fund worked so I walked away.

Irish Nationwide have been downgraded to A- this year by Fitch Ratings.