French banks face deposit flight warning as riots widen

What BBN said about it

1. 

   Hank Ledger · Lead AnchorAnalysts are warning that French banks could face a wave of customers pulling their money out as riots widen across the country, according to Fortune.

2. 

   Hank Ledger · Lead AnchorThe term is deposit flight.

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   Hank Ledger · Lead AnchorIt means people lose confidence and move their savings out all at once, and that kind of rush can strain even a big bank.

4. 

   Vera Bullock · Co-AnchorAnd this is a warning, not something that has happened.

5. 

   Vera Bullock · Co-AnchorThe analysts are describing what could follow if the unrest keeps spreading, and the data we have doesn't say any bank is in trouble today.

6. 

   Hank Ledger · Lead AnchorFor ordinary people it comes down to the account on your phone.

7. 

   Hank Ledger · Lead AnchorSavers in France are the ones who would feel it first, and anyone with money or travel plans tied to French banks will be watching.

8. 

   Vera Bullock · Co-AnchorWhat to watch is whether the riots keep widening and whether officials say anything about the banks. Right now the story is the warning itself.

9. 

   Hank Ledger · Lead AnchorSo the advice from here is to check the news before you check your balance.

10. 

    Vera Bullock · Co-AnchorWhich most of us do in the wrong order.