Kal-El814 Posted March 12, 2023 Share Posted March 12, 2023 lol lol 1 1 2 Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted March 12, 2023 Share Posted March 12, 2023 Now I REALLY don't want them to step in and do anything, EVEN MORE. Quote Link to comment Share on other sites More sharing options...
Jwheel86 Posted March 12, 2023 Share Posted March 12, 2023 Bailed out: U.S. officials weigh protecting all deposits at Silicon Valley Bank - The Washington Post WWW.WASHINGTONPOST.COM Officials at the Treasury Department, Federal Reserve and Federal Deposit Insurance Corporation discussed the idea to backstop all deposits this weekend, the people said, with only hours to go before financial markets opened in Asia. Quote Under the new program, the Fed said it would provide loans of up to one year to banks, savings associations, credit unions, and other eligible depository institutions in return for collateral such as U.S. Treasuries, agency debt and mortgage-backed securities. Quote Link to comment Share on other sites More sharing options...
unogueen Posted March 12, 2023 Share Posted March 12, 2023 I need to declare myself a lender so everytime I take a shit I can complain about lost assets. 2 1 Quote Link to comment Share on other sites More sharing options...
Ricofoley Posted March 12, 2023 Share Posted March 12, 2023 Regulators close New York's Signature Bank, citing systemic risk WWW.CNBC.COM U.S. regulators on Sunday shut down New York-based Signature Bank in a bid to prevent the spreading banking crisis. Another one. I looked up futures for the markets and it looks like they're all up, so it doesn't seem like there's any real concern that there's going to be a snowball effect Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted March 12, 2023 Author Share Posted March 12, 2023 1 Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted March 13, 2023 Share Posted March 13, 2023 1 hour ago, Commissar SFLUFAN said: So depositors don't lose their funds but investors don't get bailed out? Sounds alright! Quote Link to comment Share on other sites More sharing options...
rc0101 Posted March 13, 2023 Share Posted March 13, 2023 Depositors are made whole while they unwind their assets. Doing exactly what they should be doing but ya know “bail out” will be parroted everywhere. 3 Quote Link to comment Share on other sites More sharing options...
Guest Posted March 13, 2023 Share Posted March 13, 2023 2 hours ago, Commissar SFLUFAN said: Good on the Biden admin and Fed for doing the right thing here, it’s also the best strategy to avoid a contagion Monday and Tuesday that needlessly takes down other banks as people get antsy. I received several emails of the weekend from banks that I have accounts at that operate on smaller scale in the space that SVB did, and the panic in their messaging was obvious. I’m sure they were seeing unusual outbound wiring Friday afternoon as the SVB situation unraveled. Quote Link to comment Share on other sites More sharing options...
Guest Posted March 13, 2023 Share Posted March 13, 2023 5 minutes ago, rc0101 said: Depositors are made whole while they unwind their assets. Doing exactly what they should be doing but ya know “bail out” will be parroted everywhere. The interesting thing to me while looking at the SVB balance sheet is that…it wasn’t upside down when the run began. It should be relatively easy to move these assets over the next few quarters and the Treasury/Fed, and thus taxpayers, not to be out anything. It could even be fairly profitable if they just warehouse the long dated debt and warrants in the VC debt holdings. Quote Link to comment Share on other sites More sharing options...
rc0101 Posted March 13, 2023 Share Posted March 13, 2023 18 minutes ago, sblfilms said: The interesting thing to me while looking at the SVB balance sheet is that…it wasn’t upside down when the run began. It should be relatively easy to move these assets over the next few quarters and the Treasury/Fed, and thus taxpayers, not to be out anything. It could even be fairly profitable if they just warehouse the long dated debt and warrants in the VC debt holdings. Yup they were “healthy” it was just the perfect storm hitting them and lack of proper liquidity management. I need to check to see how much in fed funds they had borrowed and what their tangible common equity was over the past few quarters. It just doesn’t make sense that they didn’t see the risk coming. we have no where near their asset size and we have been monitoring our unrealized losses since last summer and conducting quarterly stress testing. edit - looks like they had $15 billion in fed funds at the end of 2022. Their AOCI was -$1.9 billion. Just for fun look up what Ally Bank is showing for their AOCI, I bet they are getting nervous calls from their regulators and investors. Quote Link to comment Share on other sites More sharing options...
Guest Posted March 13, 2023 Share Posted March 13, 2023 5 minutes ago, rc0101 said: Yup they were “healthy” it was just the perfect storm hitting them and lack of proper liquidity management. I need to check to see how much in fed funds they had borrowed and what their tangible common equity was over the past few quarters. It just doesn’t make sense that they didn’t see the risk coming. we have no where near their asset size and we have been monitoring our unrealized losses since last summer and conducting quarterly stress testing. It’s been a LOOOONG time since I last took a money/banking course, so forgive me for not remembering everything, but do your auditors look at things like this? I mean, the dorks at seekingalpha apparently pointed out this potential long dated debt/liquidity crunch issue at SVB last quarter! Somebody was asleep at the wheel. Quote Link to comment Share on other sites More sharing options...
rc0101 Posted March 13, 2023 Share Posted March 13, 2023 7 minutes ago, sblfilms said: It’s been a LOOOONG time since I last took a money/banking course, so forgive me for not remembering everything, but do your auditors look at things like this? I mean, the dorks at seekingalpha apparently pointed out this potential long dated debt/liquidity crunch issue at SVB last quarter! Somebody was asleep at the wheel. We just went through an exam with Federal Reserve and they were almost exclusively looking at our liquidity and investments. Loans were more of a formality, which is a complete 180 from what a typical exam looks like. Quote Link to comment Share on other sites More sharing options...
rc0101 Posted March 13, 2023 Share Posted March 13, 2023 /assets/img/marketwatch.dad5abb.png 20 banks that are sitting on huge potential securities losses—as was SVB | Morningstar WWW.MORNINGSTAR.COM Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted March 13, 2023 Author Share Posted March 13, 2023 I'm utterly astounded that a bank of SVB's size did not have a Chief Risk Officer. 1 Quote Link to comment Share on other sites More sharing options...
rc0101 Posted March 13, 2023 Share Posted March 13, 2023 Just now, Commissar SFLUFAN said: I'm utterly astounded that a bank of SVB's size did not have a Chief Risk Officer. For nearly a year! I just don’t understand how both the State Banking Agency and I think they are Fed regulated, weren’t on them about that. Especially after seeing their unrealized losses swell along with their fed funds borrowings. 1 Quote Link to comment Share on other sites More sharing options...
Air_Delivery Posted March 13, 2023 Share Posted March 13, 2023 2 hours ago, sblfilms said: The interesting thing to me while looking at the SVB balance sheet is that…it wasn’t upside down when the run began. It should be relatively easy to move these assets over the next few quarters and the Treasury/Fed, and thus taxpayers, not to be out anything. It could even be fairly profitable if they just warehouse the long dated debt and warrants in the VC debt holdings. They were dumb as shit and bought a bunch of long dated T bills in a low interest environment trying to squeeze every penny. Quote Link to comment Share on other sites More sharing options...
PaladinSolo Posted March 13, 2023 Share Posted March 13, 2023 My right wing brain boss already going in on calling it a bailout, and how the federal government just hands out cash. Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted March 13, 2023 Share Posted March 13, 2023 10 hours ago, rc0101 said: For nearly a year! I just don’t understand how both the State Banking Agency and I think they are Fed regulated, weren’t on them about that. Especially after seeing their unrealized losses swell along with their fed funds borrowings. YOLO 🚀🚀🚀🦍🦍🦍 TO THE MOON 1 Quote Link to comment Share on other sites More sharing options...
Fizzzzle Posted March 13, 2023 Share Posted March 13, 2023 On 3/10/2023 at 12:50 PM, CitizenVectron said: Call me crazy, but it seems like maybe our world/society would be better off if you could only buy and sell things and services (including stakesstocks in the companies that provide them)...and not any other financial instruments that effective bet one way or the other on what those first level of things will do (and so on). I think it's better to say "maybe we shouldn't let companies hold so much capital that if they fail, the entire fucking economy collapses." It's something we've known about since the bronze age, yet we keep letting it happen. Don't listen to me, though. I never took economics in college and once you get into the realm of liquid assets on any kind of large scale like these banks my brain goes to mush. Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted March 13, 2023 Author Share Posted March 13, 2023 HSBC has acquired SVB's UK subsidiary in a government/Bank of England-facilitated deal for £1 HSBC pays £1 to rescue UK arm of Silicon Valley Bank after all-night talks WWW.CNBC.COM 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. Quote HSBC on Monday announced a deal to buy the U.K. subsidiary of collapsed U.S. tech startup lender Silicon Valley Bank, following all-night talks. HSBC confirmed that its U.K. ring-fenced subsidiary, HSBC UK Bank, had agreed to acquire SVB U.K. for £1 ($1.21). The assets and liabilities of SVB U.K.’s parent company are excluded from the transaction. 1 Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted March 13, 2023 Share Posted March 13, 2023 1 Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted March 13, 2023 Share Posted March 13, 2023 I'm just glad the fantasy of the lone tech genius white man is gone and everyone outside the bay finally gets to experience all the dirty laundry and bullshit everyone there, everyone famous, and anyone who is a "name" is. Quote Link to comment Share on other sites More sharing options...
Brian Posted March 13, 2023 Share Posted March 13, 2023 Bank paid out employee bonuses right before being seized lololol Quote Link to comment Share on other sites More sharing options...
chakoo Posted March 13, 2023 Share Posted March 13, 2023 1 hour ago, Commissar SFLUFAN said: HSBC has acquired SVB's UK subsidiary in a government/Bank of England-facilitated deal for £1 Quote The assets and liabilities of SVB U.K.’s parent company are excluded from the transaction. I'm not sure I fully follow what they are stating here. By saying SVB UK parent are they just referring to SVB (US)? Also what are they fully getting in this, do they get the assets and liabilities of the UK subsidiary? Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted March 13, 2023 Author Share Posted March 13, 2023 10 minutes ago, chakoo said: I'm not sure I fully follow what they are stating here. By saying SVB UK parent are they just referring to SVB (US)? Also what are they fully getting in this, do they get the assets and liabilities of the UK subsidiary? The agreement with HSBC specifically excludes the US-based parent company and only pertains to the assets/liabilities/equity of the UK subsidiary. 1 Quote Link to comment Share on other sites More sharing options...
GeneticBlueprint Posted March 13, 2023 Share Posted March 13, 2023 Found out my company banks with SVB. LMAuhO Quote Link to comment Share on other sites More sharing options...
GeneticBlueprint Posted March 13, 2023 Share Posted March 13, 2023 Borrowers with student loans right now ^ *Stolen from the bird site 4 1 Quote Link to comment Share on other sites More sharing options...
rc0101 Posted March 13, 2023 Share Posted March 13, 2023 So far no significant deposits have left and only a handful of calls. *knocking on wood* 2 Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted March 14, 2023 Share Posted March 14, 2023 3 Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted March 14, 2023 Share Posted March 14, 2023 Apparently Tucker was also blaming the bank failure on too much diversity. Quote Link to comment Share on other sites More sharing options...
Spork3245 Posted March 14, 2023 Share Posted March 14, 2023 Just now, SuperSpreader said: Apparently Tucker was also blaming the bank failure on too much diversity. "woke banks" Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted March 14, 2023 Share Posted March 14, 2023 1 minute ago, Spork3245 said: "woke banks" Maybe they should stop complaining about "globalists" then Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted March 14, 2023 Share Posted March 14, 2023 Or wait are the most powerful Globalists in cahoots with WOKe to hurt the white man!? News at 11! Quote Link to comment Share on other sites More sharing options...
Spork3245 Posted March 14, 2023 Share Posted March 14, 2023 3 minutes ago, SuperSpreader said: Maybe they should stop complaining about "globalists" then Nextgen owns a bank? 1 Quote Link to comment Share on other sites More sharing options...
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