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  • Primer: American Bank Insolvency Losses

    From bondeconomics.substack.com

    In this article, I am going to give a basic introduction to insolvency (bankruptcy), as well as a discussion of the principles of how losses are apportioned to the various classes of creditors of American banks. I will only attempt to look at American banks since bankruptcy procedures are specific to each legal jurisdiction. Although I was not a credit analyst, I worked with them and had some training on the topic. The article “U.S. Corporate and Bank Insolvency Regimes: An Economic Comparison and Evaluation” by Robert R. Bliss and George G. Kaufman (URL: ... (full story)

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    ECB Watch: Finally truly driven by incoming data

    From corporate.nordea.com|Mar 16, 2023

    The ECB hiked rates by 50bp despite the uncertain market situation, but refrained from giving any firm guidance on what would happen next. We think the ECB remains worried about ...

    Fitch Ratings Cuts U.S. Housing Sector Forecasts on Higher Rates; Lower Confidence

    From fitchratings.com|Mar 16, 2023

    Fitch Ratings has sharply lowered its expectations for several key performance indicators (KPIs) for the U.S. housing sector in 2023 due to greater than expected mortgage rate ...

    Gold bid on banking woes

    From gold.org|Mar 16, 2023

    The failure of Silicon Valley Bank and Signature Bank this past weekend sparked concerns over banking stress contagion. The jury is still out on whether it’s a few bad apples or ...

    •   Newer Stories
    Total of 11 banks to deposit $30B into First Republic Bank

    From @zerohedge|Mar 16, 2023

    tweet at 3:23pm: *BAC, C, JPM, WFC EACH MAKING A $5B UNINSURED DEPOSIT INTO FRC *GOLDMAN SACHS AND MORGAN STANLEY EACH DEPOSITING $2.5B *BNY-MELLON, PNC BANK, STATE STREET, U.S. BANK EACH DEPOSIT $1B *TOTAL OF 11 BANKS TO DEPOSIT $30B INTO FIRST REPUBLIC BANK https://t.co/UYsnB3o1ScWall Street rides to the rescue as 11 banks pledge First Republic $30 billion in deposits A group of financial institutions has agreed to deposit $30 billion in First Republic in what’s meant to be a sign of confidence in the banking system, the banks announced Thursday afternoon. Bank of America , Wells Fargo , Citigroup and JPMorgan Chase will contribute about $5 billion apiece, while Goldman Sachs and Morgan Stanley will deposit around $2.5 billion, the banks said in a news release. Truist , PNC , U.S. Bancorp , State Street and Bank of New York Mellon will deposit about $1 billion each. The deposits would be obligated to stay at First Republic for at least 120 days, sources told CNBC’s David Faber. Regional bank stocks initially fell on Thursday but reversed higher after reports from Faber and others about the development of the deposit plan. The news comes after First Republic’s stock has been pummeled in recent days, sparked by the collapse of Silicon Valley Bank last Friday and Signature Bank over the weekend. Both of those banks had a high number of uninsured deposits, as did First Republic, leading to concern that customers would pull their money out. First Republic’s stock, which closed at $115 per share on March 8, traded below $20 at one point Thursday. The stock was halted repeatedly shortly after the news broke and rose to $40 per share at one point, up more than 20% on the day.

    Is the Copper–Gold Ratio a Dependable Leading Indicator on Rates?

    From blogs.cfainstitute.org|Mar 16, 2023

    Institutional asset managers use the copper–gold ratio as one of the 10-year Treasury yield’s leading indicators. Indeed, as the spread between bond yields and the ratio widened ...

    Fed's Rates Dilemma amid Banking Headwinds

    From cmegroup.com|Mar 16, 2023

    “When the facts change, I change my mind. What do you do, Sir?” While this quote is typically attributed to the famous economist John Maynard Keynes, historians are not sure he ...

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  • Posted: Mar 16, 2023 3:18pm
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     Newsstand
    Category: Educational News
    Comments: 0  /  Views: 726
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    From cnbc.com|Mar 16, 2023
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