I want to Open a Bank

TomTom · Jan 20, 2009

Think about it.
Get a bank up and running so we can borrow at london libbor rate and lend out at 6% intrest.
Pay a good rate on any savings together with accepting most new mortage aplications.
After year one open up a trading floor, first futures, then currencies/comodities after year 2&3.
This all sounds feasable in todays market place, I wonder how dose one go about it ?
Yes going to an adviser makes good sense, however dose anyone have any other sugestions ?

everyonerich · Jan 20, 2009

TomTom said:
Think about it.
Get a bank up and running so we can borrow at london libbor rate and lend out at 6% intrest.
Pay a good rate on any savings together with accepting most new mortage aplications.
After year one open up a trading floor, first futures, then currencies/comodities after year 2&3.
This all sounds feasable in todays market place, I wonder how dose one go about it ?
Yes going to an adviser makes good sense, however dose anyone have any other sugestions ?

is it difficult to get a license for bank? wondered whats the procedure like..

Skill Leverage · Jan 20, 2009

Pretty straightforward really, all you'd have to do is convince the public to deposit billions of pounds of their hard-earned money with a bank that was run out of some guy's bedroom.

With fiscal policies such as 'Pay a good rate on any savings together with accepting most new mortage aplications', you'd lose it all in a spectacular fashion.

TomTom · Jan 20, 2009

Skill Leverage said:
Pretty straightforward really, all you'd have to do is convince the public to deposit billions of pounds of their hard-earned money with a bank that was run out of some guy's bedroom.

With fiscal policies such as 'Pay a good rate on any savings together with accepting most new mortage aplications', you'd lose it all in a spectacular fashion.

Err not my bedroom M8
This is a sierouse quesion.
Timming is right too.

mkhall · Jan 20, 2009

TomTom said:
Think about it.
Get a bank up and running so we can borrow at london libbor rate and lend out at 6% intrest.
Pay a good rate on any savings together with accepting most new mortage aplications.
After year one open up a trading floor, first futures, then currencies/comodities after year 2&3.
This all sounds feasable in todays market place, I wonder how dose one go about it ?
Yes going to an adviser makes good sense, however dose anyone have any other sugestions ?

Setting up a bank! Your strategy sounds very similar to that of one Northern Rock to me! But good luck to you. Borrowing at Libor is going to be a challenge for a new bank. Wholesale markets have not completely recovered. Anyway, I wish you every success.

Skill Leverage · Jan 20, 2009

This is a serious question? OK, well, to give a (slightly) serious answer, the whole 'accepting most new mortage aplications' is pretty much what got us in the sh!t that is convincing you the 'timing is right'.

Think about what you're saying for God's sake.

TomTom · Jan 20, 2009

Skill Leverage said:
This is a serious question? OK, well, to give a (slightly) serious answer, the whole 'accepting most new mortage aplications' is pretty much what got us in the sh!t that is convincing you the 'timing is right'.

Think about what you're saying for God's sake.

In resessions lots of money is made, ok timming is key and things are going to get worse, so when banks are failing the publisity will be great when a new bank opens ....

TomTom · Jan 20, 2009

mkhall said:
Setting up a bank! Your strategy sounds very similar to that of one Northern Rock to me! But good luck to you. Borrowing at Libor is going to be a challenge for a new bank. Wholesale markets have not completely recovered. Anyway, I wish you every success.

So you have knollage about this ?
Nice website by the way.
Im a good trader, however I have other skills that can be deployed aside from trading and want to make the most of this asset, this is why I ask about opening a new bank, I have some good stratogies to be implemented.
Will it be a norhenrock ? well dont know, but i seem to remember many made millions from working at such an institution.

mkhall · Jan 20, 2009

You Need a lot more than publicity to open a bank!

TomTom · Jan 20, 2009

Where there is a will there is a way.

Nice website

You got any good traders working there ?

gooseman · Jan 20, 2009

you need a shed load of minimum requirements including capital base, differnt tired funding and someone to put money in, after ggaining banking licences, fsa regulation etc. it is not easy. and in these times even harder.

Skill Leverage · Jan 20, 2009

TomTom said:
In resessions lots of money is made, ok timming is key and things are going to get worse, so when banks are failing the publisity will be great when a new bank opens ....

Not really sure where to start with this, so I'll just recommend that you read up on the history of the UK's banks, particularly at the dates at which most of them were formed. A bank isn't a limited company that you can open for business in a day, the amount of time, money and resources needed are astronomical. Your question is crazy, and you know it is.

Besides, it sounds like you're far more interested in opening a prop firm than a bank, albeit one that lends money out to people for mortgages they can't afford. If you must have a dream, I'd go for that instead.

TomTom · Jan 20, 2009

Hi Skill Leverage,
All good things come from ideas, you must agree ?
I do love the markets and the work, however I need something more to get my teath into.
Trading the break of ranges, high / lows dose get boring at times.
Then again passing on some knollage and techneques to others could be just as rewarding, pluss it will keep everything under one unblella.#
any more ideas ?

Skill Leverage · Jan 20, 2009

No disrespect meant, everyone needs to have a project, I'm just saying that the last thing the country needs is people trying to open up undercapitalised 'banks' with slack personal loan requirements.

If you had a few billion to invest in British businesses, that would be a different story.

TomTom · Jan 20, 2009

I dont, but I bet there are others who have .......
All Ideas welcome

Hoggums · Jan 20, 2009

Tomtom - I'm with Skill here - running a bank is far more than accepting peoples deposits and lending them out to other, pocketting the difference in interest rates and trading that money to make a bit of profit on the side.

You really do have no idea what you are suggesting. Besides I wouldn't want to deposit money with someone who clearly didn't pass their English Language GCSE.

Think about it.
Get a bank up and running so we can borrow at london libbor rate and lend out at 6% intrest.
Pay a good rate on any savings together with accepting most new mortage aplications.
After year one open up a trading floor, first futures, then currencies/comodities after year 2&3.
This all sounds feasable in todays market place, I wonder how dose one go about it ?
Yes going to an adviser makes good sense, however dose anyone have any other sugestions ?

Err not my bedroom M8
This is a sierouse quesion.
Timming is right too.

In resessions lots of money is made, ok timming is key and things are going to get worse, so when banks are failing the publisity will be great when a new bank opens ....

So you have knollage about this ?
Nice website by the way.
Im a good trader, however I have other skills that can be deployed aside from trading and want to make the most of this asset, this is why I ask about opening a new bank, I have some good stratogies to be implemented.
Will it be a norhenrock ? well dont know, but i seem to remember many made millions from working at such an institution.

Hi Skill Leverage,
All good things come from ideas, you must agree ?
I do love the markets and the work, however I need something more to get my teath into.
Trading the break of ranges, high / lows dose get boring at times.
Then again passing on some knollage and techneques to others could be just as rewarding, pluss it will keep everything under one unblella.#
any more ideas ?

Hotch · Jan 20, 2009

Hoggums said:
You really do have no idea what you are suggesting. Besides I wouldn't want to deposit money with someone who clearly didn't pass their English Language GCSE.

Unfortunately I believe you are probably wrong, the way our education system is going.

TomTom · Jan 20, 2009

And your point is if a person has trouble with spelling he is not worthy of been a banker ?
Hmmm I now see, we have lots of bankers who can spell with many who just dont have the acumen to survive.
Banks could do well by assesing acumen and not just spellings LOL.
Hoggs M8 you have just made my day

LOL

megamuel · Jan 20, 2009

Maybe we should start a T2W bank! We could all deposit our money in it and some of the good traders in here could actually trade it for a cut in the profits... Seriously, there is a lot of talent in here, we could put it to good use!

Sam.

Skill Leverage · Jan 20, 2009

This thread sucks.

I want to Open a Bank

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