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Oh, did I miss the part where it said the $250,000 limit only applied to certain groups?
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Off-Topic Stock Market & Crypto Discussion
- Thread starter Bird4um
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mr.h
I hate F$U and ND
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I’m saying that rising interest rates are slowing and could deeply hurt the economy, causing a recession, but the strength of the economy has held up to this point. The bank failure is a good example, but this is in no way a 2008 event.
mr.h
I hate F$U and ND
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This is not 2008. There will be no run on the banks. I was going to mention the Todd-Frank Act, but decided against it.
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Except for the run on SVB and Signature.
There is a run on other banks too, I can tell you firsthand. Best *guess* is that First Republic and others are taken over in the next few weeks and months.
Clarification: When I say taken over, I mean they are most likely to be bought by stronger banks.
Barney Frank, LOL
www.wsj.com
Barney Frank Pushed to Ease Financial Regulations After Joining Signature Bank Board
The former congressman and co-sponsor of the Dodd-Frank bill says there is no evidence that the change enabled bank’s failure.
www.wsj.com
From Barron's today on BAC
Bank of America had $862 billion of debt securities on its balance sheet totaling roughly $3 trillion at the end of 2022. Of that, $632 billion of bonds, mostly federal agency mortgage securities, were classified as held to maturity for accounting purposes.
Banks don’t have to record losses on changes in those securities’ value, cutting into their capital, unless the debt is sold. Still, holdings in that bucket, which carry minimal or no credit risk, were nonetheless showing a loss of about $109 billion at the end of 2022 due to the rise in interest rates over the past year.
Bank of America had $862 billion of debt securities on its balance sheet totaling roughly $3 trillion at the end of 2022. Of that, $632 billion of bonds, mostly federal agency mortgage securities, were classified as held to maturity for accounting purposes.
Banks don’t have to record losses on changes in those securities’ value, cutting into their capital, unless the debt is sold. Still, holdings in that bucket, which carry minimal or no credit risk, were nonetheless showing a loss of about $109 billion at the end of 2022 due to the rise in interest rates over the past year.
Regulators Had the Tools to Prevent Customer Concentration at Failed Banks
As Charles Schwab Stock Tumbles, Executives Reassure Investors
Statements from the CFO, CEO, and Charles Schwab himself appear to be reversing Monday’s sharp selloff in the stock.
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Short term, probably. Medium and longer terms, we havent solved any of the core issues, so we will be stuck in a yo-yo environment.
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So...not something political from 5 years ago?Regulators Had the Tools to Prevent Customer Concentration at Failed Banks
As Charles Schwab Stock Tumbles, Executives Reassure Investors
Statements from the CFO, CEO, and Charles Schwab himself appear to be reversing Monday’s sharp selloff in the stock.www.barrons.com
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What if the Fed like less than 2 years ago was projecting rates to be like 1% and banks purchased assets accordingly, then the Fed made the largest rate hike in history shortly after....
TheEye
Recruiting is about get even better.
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Are you saying the yield curve will end its inversion?
No, you asked if it was the end of 5%+ short term rates, it will take a while to end the inversion.
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Why is my late fee now $250?
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mr.h
I hate F$U and ND
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| 07:30 | USD | Consumer Price Index Core s.a(Feb) | 304.07 | - | - | 302.7 |
| 07:30 | USD | Consumer Price Index ex Food & Energy (MoM)(Feb) | 0.5% | 0.98 | 0.4% | 0.4% |
| 07:30 | USD | Consumer Price Index ex Food & Energy (YoY)(Feb) | 5.5% | 0 | 5.5% | 5.6% |
| 07:30 | USD | Consumer Price Index n.s.a (MoM)(Feb) | 300.84 | -0.05 | 300.86 | 299.17 |
Inflation numbers meet expectations..beats previous numbers.
Still should come down faster, but it's tome for a pause.
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@Confidence1000 PAUSE
KPMG Gave SVB, Signature Bank Clean Bill of Health Weeks Before Collapse
The accounting firm blessed the books of the two banks weeks before their failure. It will likely face questions on what it knew about the lenders’ financial situation, and what it missed.
www.wsj.com
Probably nothing will happen, but it *appears* that a lot of SVB executives should be %^@$%@
Silicon Valley Bank, as in the bank that was insolvent and closed by regulators on Friday, is reportedly going through the auction process again, because, well, apparently no one wanted it the first time around.
– SVB Financial Group, as in the parent company of the bank, is no longer the parent company of the bank, as was decided when the FDIC became receiver on Friday.
– SVB Capital, as in the $10 billion venture arm of SVB, has been put up for sale. As I reported yesterday after speaking with LPs, interested buyers include large financial services providers, asset managers, and sovereign wealth funds. Some limited partners are very displeased with communication from the venture firm. “They sent us this platitude email around [yesterday] about how ‘our funds are safe’—but, I mean, is that even true? There’s so much going on there. It’s very, very concerning,” one limited partner told me.
– SVB Securities, as in the investment banking division, is also up for sale. This division has been very busy issuing various statements about how it is still operational, and, more recently, as it “sets the record straight” about its executives.
Silicon Valley Bank, as in the bank that was insolvent and closed by regulators on Friday, is reportedly going through the auction process again, because, well, apparently no one wanted it the first time around.
– SVB Financial Group, as in the parent company of the bank, is no longer the parent company of the bank, as was decided when the FDIC became receiver on Friday.
– SVB Capital, as in the $10 billion venture arm of SVB, has been put up for sale. As I reported yesterday after speaking with LPs, interested buyers include large financial services providers, asset managers, and sovereign wealth funds. Some limited partners are very displeased with communication from the venture firm. “They sent us this platitude email around [yesterday] about how ‘our funds are safe’—but, I mean, is that even true? There’s so much going on there. It’s very, very concerning,” one limited partner told me.
– SVB Securities, as in the investment banking division, is also up for sale. This division has been very busy issuing various statements about how it is still operational, and, more recently, as it “sets the record straight” about its executives.