Panic withdrawal
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Uncle Putin finyaaa kabisa.
They will be alot of blood and feathers. Interest rates will do a number to some.
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They have shut down another one, Signature Bank.
kesho banaa.
Stop being alarmist. Furthermore that’s why there is the FDIC.
FDIC inakupatia $250,000 max. i’m not being alarmist, but for precautionary measure, have some cash that can push you for a few days. i’m hoping all will be well tomorrow and the coming days.
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Putin pipinyaaa
Waiting to see guka Buden fumbling through another speech on this lmao.
These are not good signs. By this evening Kenyan time huko Yues mambo yatakuwa moto.
The Feds has opened the discount lending window and banks can shore up their funding ; they have been doing this since Friday and all deposits will be guaranteed.
https://www.ft.com/content/8e0be2f4-0b41-4768-b586-49180980ba90
Kenyan banks insure Upton how much…
That’s good news.
Hiyo link banaa, mind copy pasting ?
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Invested some puts in the so called Regional banks and hoping to collect as the market opens . Stocks will fall but the banks will still be standing at the end of the day.
When Cramer states buy you sell stocks or buy puts, when he says sell you buy stocks and calls . Inverse everything he says and you make money.
US regulators said depositors of Silicon Valley Bank would be fully repaid and took control of another lender as they acted to shore up the banking system and stem contagion after the lender’s implosion. The Federal Reserve announced a new lending facility aimed at providing extra funding to eligible institutions to ensure that “banks have the ability to meet the needs of all their depositors”. In a statement, the US central bank added it was “prepared to address any liquidity pressures that may arise”.
The facility is part of a broader effort by regulators, including Treasury secretary Janet Yellen, Fed chair Jay Powell and Martin Gruenberg of the Federal Deposit Insurance Corporation, to avoid spillovers across the financial system and reassure customers that their money is safe following the second-largest bank failure in US history. The measures come after a frenzied weekend marked by a chaotic search for a potential buyer for SVB and regulators’ closure of New York-based Signature Bank.
The so-called Bank Term Funding Program will offer loans of up to one year to lenders that pledge collateral including US Treasuries and other “qualifying assets”, which will be valued at par. The programme will eliminate an institution’s “need to quickly sell those securities in times of stress” and would be enough to cover all uninsured US deposits, the Fed said. The facility is backstopped by the Treasury, which put up $25bn. The discount window, where banks can access funding at a slight penalty, remained “open and available”, the central bank added. The regulators also said all depositors of SVB would have access to their money on Monday, as would those of Signature, which was closed by the New York Department of Financial Services before being placed under FDIC control and marketed for sale. A number of venture capitalists said Signature was the most exposed lender after SVB because it also had a concentrated customer base, significant exposure to cryptocurrencies and technology companies and a high proportion of uninsured deposits. Of Signature’s $89bn in deposits, 90 per cent were not insured by the FDIC at the end of last year, according to a regulatory filing. Roughly a fifth of its total deposits were related to digital assets as of December 31. Officials on Sunday said no losses stemming from the resolution of either SVB or Signature’s deposits would be borne by the taxpayer. Any shortfall would be funded by a levy on the rest of the banking system. They added that shareholders and certain unsecured debtholders would not be protected. Gary Gensler, chair of the Securities and Exchange Commission, vowed in a statement on Sunday to “investigate and bring enforcement actions” in the event of violations of federal securities law. A senior US Treasury official told reporters on Sunday that Yellen had consulted with Joe Biden, the US president, before signing off on the plan to invoke a “systemic risk exception”, allowing all depositors of SVB and Signature to gain access to their money on Monday morning. In terms of SVB, there had not been enough time for a buyer to emerge and complete a successful auction. Biden said in a statement he was pleased that his economic team “reached a prompt solution that protects American workers and small businesses, and keeps our financial system safe” while “taxpayer dollars are not put at risk”. The senior Treasury official denied that the move represented a bailout because shareholders and bondholders of the two banks had been “wiped out”. The official said the “economy remains in good shape” and the financial system had a more solid “foundation” than in 2008. Anat Admati, a finance professor at Stanford University, said regulators over the past few years had allowed the banking system to become fragile again and had no choice but to bail out Silicon Valley Bank. “When it gets to this point and you are in a hostage situation, there is nothing else you can do,” Admati said. “But there is no other word for this other than to call it a bailout.”
The move underscored US regulators’ concerns about potential spillovers, which motivated the establishment of the Fed facility to help prevent bank runs. The senior Treasury official said they saw “similarities” in the situations at some of SVB and Signature’s peers and wanted to ensure depositors would not suddenly withdraw. Recommended News in-depthSilicon Valley Bank Silicon Valley Bank: the spectacular unravelling of the tech industry’s banker Neither SVB nor Signature — leading lenders for the start-up community and cryptocurrency industry — was likely to be acquired by a rival bank as all the potential buyers had so far walked away, said people with direct knowledge of the negotiations and who have been working with SVB and the government. PNC, a large US bank, and Canada’s RBC were invited to buy SVB but decided against bidding, said people with direct knowledge of the matter. America’s five largest banks, including JPMorgan and Bank of America, would also not be buyers, these people said. For a transaction to make sense for any buyer, the US government would be required to cover part of their losses, said a person working with SVB. Separately, New York-based investment bank Centerview Partners has been hired to sell SVB’s assets not related to customers’ deposits, including its investment bank and capital business, said people with direct knowledge of the matter.
How will you read locked articles next time ukispoon-feediwa hivi?? Ask how to fish instead of asking for a fish.
Step 1: Copy the link
Step 2: Go to archives.ph or one of those sites
Step 3: Paste the link and search
Step 4: Read the article
Step 5: Bookmark that website for future reference
Step 6: Stop being a goof
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:D:D:D:p
Sanctions are working!
She has fallen, Babylon the Great is falling.
.
“The kings of the earth who committed fornication and lived luxuriously with her will weep and lament for her, when they see the smoke of her burning, 10 standing at a distance for fear of her torment, saying, ‘Alas, alas, that great city Babylon, that mighty city! For in one hour your judgment has come.’
11 “And the merchants of the earth will weep and mourn over her, for no one buys their merchandise anymore: 12 merchandise of gold and silver, precious stones and pearls, fine linen and purple, silk and scarlet, every kind of citron wood, every kind of object of ivory, every kind of object of most precious wood, bronze, iron, and marble; 13 and cinnamon and incense, fragrant oil and frankincense, wine and oil, fine flour and wheat, cattle and sheep, horses and chariots, and bodies and souls of men. 14 The fruit that your soul longed for has gone from you, and all the things which are rich and splendid have [g]gone from you, and you shall find them no more at all. 15 The merchants of these things, who became rich by her, will stand at a distance for fear of her torment, weeping and wailing, 16 and saying, ‘Alas, alas, that great city that was clothed in fine linen, purple, and scarlet, and adorned with gold and precious stones and pearls! 17 For in one hour such great riches [h]came to nothing.’ Every shipmaster, all who travel by ship, sailors, and as many as trade on the sea, stood at a distance 18 and cried out when they saw the smoke of her burning, saying, ‘What is like this great city?’
19 “They threw dust on their heads and cried out, weeping and wailing, and saying, ‘Alas, alas, that great city, in which all who had ships on the sea became rich by her wealth! For in one hour she [i]is made desolate.’
20 “Rejoice over her, O heaven, and you [j]holy apostles and prophets, for God has avenged you on her!”