We got a bank collapse y'all

[Jeebus]

Translation

If the regulators think your bank is big enough all of your deposits will be guaranteed.

If the regulators don't think your bank is big enough, enjoy your FDIC $250K coverage limit.

Knowing these new rules people are "Stupid" for carrying more than $250K per person/company in any regional bank unless it is in CD's TBills etc.

"Deposit Flight" will continue to big banks only making them bigger.

Yep, I wonder whose board of directors yellen joins next.

 

[Jon91SE]

: laughs in CBDC :

 

[10dementianal]

Translation

If the regulators think your bank is big enough all of your deposits will be guaranteed.

If the regulators don't think your bank is big enough, enjoy your FDIC $250K coverage limit.

Knowing these new rules people are "Stupid" for carrying more than $250K per person/company in any regional bank unless it is in CD's TBills etc.

"Deposit Flight" will continue to big banks only making them bigger.

Deposit flight sounds like a rich person problem, something 99 percent of Americans will never have to worry about.

 

[10dementianal]

But I'm sure they will still act stupid when the time comes.

 

[Menger]

Deposit flight sounds like a rich person problem, something 99 percent of Americans will never have to worry about.

Please think of the bankers.

 

[Jon91SE]

Please think of the bankers.

Or the local branches that get squeezed when the big-bankroll throws up the deuces ✌️

 

[Mike00]

Translation

If the regulators think your bank is big enough all of your deposits will be guaranteed.

If the regulators don't think your bank is big enough, enjoy your FDIC $250K coverage limit.

Knowing these new rules people are "Stupid" for carrying more than $250K per person/company in any regional bank unless it is in CD's TBills etc.

"Deposit Flight" will continue to big banks only making them bigger.

agreed. My quesiton is though how do you unwind the big banks? Even befor they were too big to fail that was difficult. Now? could you picture unwinding JPMC, BOA, Wells, Citi?

 

[Remy Bressant]

agreed. My quesiton is though how do you unwind the big banks? Even befor they were too big to fail that was difficult. Now? could you picture unwinding JPMC, BOA, Wells, Citi?

Bust them down into regions based on deposit size
Tie it in with community investment

 

[stevezissou]

Deposit flight sounds like a rich person problem, something 99 percent of Americans will never have to worry about.

Or a business problem, ya know like the one who pays your paycheck every month? lol

Or the places you spend your paycheck at? Ya know businesses that take your money and provide you goods and services?

Please think a little further down the road than 5 minutes and thinking you are owning "the rich people"

 

[BStork]

Isn’t the money being given to the depositors and not the bank though?

 

[digital jello]

Or a business problem, ya know like the one who pays your paycheck every month? lol

Or the places you spend your paycheck at? Ya know businesses that take your money and provide you goods and services?

Please think a little further down the road than 5 minutes and thinking you are owning "the rich people"

this dude sucks rich guys dicks

 

[rcm]

Oh damn, I just saw the news that UBS is likely going to buy CS this weekend

 

[MrBonus]

Deposit flight sounds like a rich person problem, something 99 percent of Americans will never have to worry about.

A systemic failure of our banking system will affect your regular cash needs. It will affect your employer's ability to give you your paycheck. It would cause the stock market to plummet, which affects your retirement accounts. Oh, you have a pension? Guess what, its funding is based on current equity values and if it's underfunded, your employer needs CASH to fund the difference. It would also affect every facet of the supply chain if vendors can't pay vendors, etc.

 

[stevezissou]

Oh damn, I just saw the news that UBS is likely going to buy CS this weekend

not surprising, only bank bigger than CS in Switzerland.

@gimpshiznit called it

 

[stevezissou]

Isn’t the money being given to the depositors and not the bank though?

With these two banks yes.

Yellen said if the bank wasn't "systemic" then depositors would only have access to $250K limit.

 

[10dementianal]

Or a business problem, ya know like the one who pays your paycheck every month? lol

Or the places you spend your paycheck at? Ya know businesses that take your money and provide you goods and services?

Please think a little further down the road than 5 minutes and thinking you are owning "the rich people"

I was simply commenting that this piece of news was going to be twisted into something as vastly dangerous to people who don't have the cash to be affected by it. I'm sure it's an issue for cash liquidity like it would be in 2008 but Jethro is going to shove money in his mattress causing a bigger issue.

 

[BStork]

With these two banks yes.

Yellen said if the bank wasn't "systemic" then depositors would only have access to $250K limit.

But this isn’t tax money paying it back though, right? It’s from a fund that banks had to pay into?

 

[10dementianal]

A systemic failure of our banking system will affect your regular cash needs. It will affect your employer's ability to give you your paycheck. It would cause the stock market to plummet, which affects your retirement accounts. Oh, you have a pension? Guess what, its funding is based on current equity values and if it's underfunded, your employer needs CASH to fund the difference. It would also affect every facet of the supply chain if vendors can't pay vendors, etc.

Our pension is over funded and not accepting new recipients and this is like my third unprecedented once in a lifetime event shit is getting tiring.

 

[Ron]

A systemic failure of our banking system will affect your regular cash needs. It will affect your employer's ability to give you your paycheck. It would cause the stock market to plummet, which affects your retirement accounts. Oh, you have a pension? Guess what, its funding is based on current equity values and if it's underfunded, your employer needs CASH to fund the difference. It would also affect every facet of the supply chain if vendors can't pay vendors, etc.

Wouldn’t a systemic failure basically require us to collectively start over?

 

[rcm]

Wouldn’t a systemic failure basically require us to collectively start over?

Not in a good way if that's what you're implying lol

 

[Gramps]

My friend works for KPMG and the internal stress is crazy. They certified the SVB books like 2 weeks before the collapse.

 

[Gramps]

 

[rcm]

Just create a government postal bank like France

La Banque postale - Wikipedia

en.wikipedia.org

 

[rcm]

I don't know that it's within the mandate of an audit firm to predict a bank run lol

 

[rcm]

SVB's accounting wasn't false/misleading afaik