International Banking Crisis - Update

[Six]

Yellen is already saying no bailouts. Let's see how well that ages

 

[Six]

Yellen is already saying no bailouts. Let's see how well that ages

US government moves to stop potential banking crisis

NEW YORK (AP) — The U.S. government took extraordinary steps Sunday to stop a potential banking crisis after the historic failure of Silicon Valley Bank, assuring all depositors at the failed institution that they could access all their money quickly, even as another major bank was shut down.

apnews.com

Although..... They're certainly leaving the door open for it

 

[DEFCON1.0]

This is not going to be pretty.....

 

[william]

Signature Bank, $SBNY, has been closed by State authorities

After receiving a recommendation from the boards of the FDIC and the Federal Reserve, and consulting with the President, Secretary Yellen approved actions enabling the FDIC to complete its resolution of Silicon Valley Bank, Santa Clara, California, in a manner that fully protects all depositors. Depositors will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer.

We are also announcing a similar systemic risk exception for Signature Bank, New York, New York, which was closed today by its state chartering authority. All depositors of this institution will be made whole. As with the resolution of Silicon Valley Bank, no losses will be borne by the taxpayer.

Shareholders and certain unsecured debtholders will not be protected. Senior management has also been removed.

Signature Bank, $SBNY, has been closed by State authorities

Signature Bank, $SBNY, has been closed by State authorities. The Fed has said: Today we are taking decisive actions to protect the U.S. economy by strengthening public confidence in our banking system. This step will ensure that the U.S. banking system continues to perform its vital roles of...

unusualwhales.com

 

[Totality 🇺🇦 🇮🇱]

Well then...

 

[Torch]

So how many tens of billions (if not 100’s) of Bonds etc will FDIC dump starting today?

 

[JPod]

best way to start a week.

 

[Irag8er]

First Republic drops 60%, leads decline in bank stocks despite government’s backstop of SVB​

First Republic drops 60%, leads decline in bank stocks despite government's backstop of SVB

First Republic Bank led a decline in bank shares Monday that came even after regulators' extraordinary actions Sunday evening.

www.cnbc.com

 

[Irag8er]

HSBC pays £1 to rescue UK arm of Silicon Valley Bank after all-night talks​

HSBC pays £1 to rescue UK arm of Silicon Valley Bank after all-night talks

British Finance Minister Jeremy Hunt on Sunday said that the government and Bank of England sought to "avoid or minimize" damage from the U.K. branch of SVB.

www.cnbc.com

 

[Friendly Engineer]

https://twitter.com/x/status/1635273623526330372

BREAKING: Banking stocks plummet as Wall Street opens, Western Alliance down 75%

 

[Irag8er]

Investors rush into bonds, gold in flight to safety after SVB rescue​

Investors rush into bonds, gold in flight to safety after SVB rescue

Investors flocked to safe-haven assets amid an emergency plan to backstop the banking system and limit the impact from the collapse of Silicon Valley Bank.

www.cnbc.com

 

[Irag8er]

U.S. FDIC shifts SVB deposits to new bridge bank, names CEO​

U.S. FDIC shifts SVB deposits to new bridge bank, names CEO

The U.S. Federal Deposit Insurance Corporation has transferred all deposits of Silicon Valley Bank to a newly created bridge bank and all depositors will have access to their money beginning Monday morning, the financial regulator said.

www.reuters.com

 

[Totality 🇺🇦 🇮🇱]

Biden Speaks On Banking Collapse:

• "No taxpayers money will go to helping the banks"
• "Everyone working at these banks will be fired if Gov takes them over"
• "Rest assure everyone will be able to get their money"

 

[william]

BBB bidens billionaire bailout

Now we learn the Biden Admin will impose “special assessments” (= fees) on banks across the country to pay for the SVB bailout. No way MO customers are paying for a woke bailout. I will introduce legislation preventing any bank from passing these fees on to customers -

And my legislation will exempt responsible community banks from the “special fees” to bail out the California billionaires

https://twitter.com/x/status/1635350798652821505

 

[DEFCON Warning System]

How exactly does he plan to prevent banks from passing on the new taxes?

Hint: Businesses never pay taxes. The customers always do.

 

[RiffRaff]

So no need to pull out 100k in cash and put it under the mattress yet.

"Yet"?????? Dude, we did that clear back in 2020. Makes for very comfortable sleeping too, I can assure you.

 

[RiffRaff]

HSBC pays £1 to rescue UK arm of Silicon Valley Bank after all-night talks

British Finance Minister Jeremy Hunt on Sunday said that the government and Bank of England sought to "avoid or minimize" damage from the U.K. branch of SVB.

www.cnbc.com

They overpaid.

 

[Irag8er]

SVB collapse: Moody's flags six other banks with concerning credit ratings​

SVB collapse: Moody's flags six other banks with concerning credit ratings

Moody's Investors Services placed six banks on review for downgrade after the sudden collapse of Silicon Valley Bank on Friday.

www.foxbusiness.com

 

[Irag8er]

Size matters when it comes to bank failures​

Size matters when it comes to bank failures

Two failures in one year isn't that unusual. It's the dollar amounts that are eye-popping.

www.axios.com

 

[Torch]

'Credit Suisse To Collapse Next',​

'Credit Suisse To Collapse Next', Says Robert Kiyosaki Who Predicted Lehman Brothers' Fall

Kiyosaki, who had correctly predicted the 2008 Lehman Brothers' collapse, cites the bond market as the root of the problem and warns of a weakened US dollar.

www.news18.com