Silicon Valley Bank collapses after members make run, Other banks to follow?

a reply to: AugustusMasonicus

Had a feeling you’d say that! Thanks for the education

Its a non bail out bail out!

Banking regulators devised a plan Sunday to backstop depositors and protect financial institutions with money at Silicon Valley Bank, a critical step in stemming a feared panic over the collapsed tech-focused institution. In an anxiously awaited announcement from the Federal Reserve, the central bank said it is creating a new Bank Term Funding Program aimed at safeguarding institutions impacted by the SVB failure.

www.cnbc.com...

originally posted by: burntheships
Its a non bail out bail out!

Banking regulators devised a plan Sunday to backstop depositors and protect financial institutions with money at Silicon Valley Bank, a critical step in stemming a feared panic over the collapsed tech-focused institution. In an anxiously awaited announcement from the Federal Reserve, the central bank said it is creating a new Bank Term Funding Program aimed at safeguarding institutions impacted by the SVB failure.

www.cnbc.com...

Well that's mighty white of em ain't it 😁

a reply to: xuenchen

Its The Republicans Fault!

www.politico.com...

a reply to: Violater1

Monday is going to brutal for stocks..

a reply to: burntheships

I am sure more sanctions agaisnt Russia and China is going to work out just fine.

originally posted by: vNex92
a reply to: Violater1

Monday is going to brutal for stocks..

What is the Futures market saying?

originally posted by: burntheships
a reply to: xuenchen

Its The Republicans Fault!

www.politico.com...

Well neat huh 😀

But why weren't those "regulations" addressed a year ago ? or 2 years ago? 😀

And which ones made these failure happen at just the oh-so perfect time? 😀

a reply to: Violater1

1 thousand billion = 1 trillion.

a reply to: xuenchen
The banking sector went to hell back when Clinton
put away the Glass Stegal. It’s been a roller coaster
since. Free for all with the corrupt bail outs in 08,
Epstein, Maddox and on and on.

Me? I blame the Democrats....of course.

The new Non Bail out Bail out does not cover bonds and stock.
There will be sustained losses...

originally posted by: burntheships
Its a non bail out bail out!

Banking regulators devised a plan Sunday to backstop depositors and protect financial institutions with money at Silicon Valley Bank, a critical step in stemming a feared panic over the collapsed tech-focused institution. In an anxiously awaited announcement from the Federal Reserve, the central bank said it is creating a new Bank Term Funding Program aimed at safeguarding institutions impacted by the SVB failure.

www.cnbc.com...

Frankly, I don't understand their double speak or even not being transparent. What "facility" are they talking about? Yellin is saying that the taxpayers are not going to be hit, yet says that the banks will be assessed by a special assessment from the banks. Yet she knows the banks will figure out how to make their depositors pay. Just so much BS.

"The Federal Reserve is creating a new Bank Term Funding Program aimed at safeguarding institutions impacted by the market instability of the SVB failure. Treasury Secretary Janet L. Yellen said, “
Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law. “
The Fed facility will offer loans of up to one year to banks, saving associations, credit unions and other institutions. Those taking advantage of the facility will be asked to pledge high-quality collateral such as Treasury's agency debt and mortgage-backed securities.
"This action will bolster the capacity of the banking system to safeguard deposits and ensure the ongoing provision of money and credit to the economy," the Fed said in a statement. "The Federal Reserve is prepared to address any liquidity pressures that may arise."
The Treasury Department is providing up to $25 billion from its Exchange Stabilization Fund as a backstop for any potential losses from the funding program."
www.cnbc.com...
www.foxbusiness.com...#&_intcmp= fnhpriver_8,hp1bt

SVB's London Branch could bury the London Tech Sector.

In England, the new Bank of London was mulling a possible offer to buy SVB’s London branch, and not because it was a bargain. They’re thinking the British tech sector may go down with the ship if they don’t have a rescue plan in place.

Another problem we face is that when we decided that it was all "too big to fail" in 2008 and passed a bunch of new rules, we lost a lot of the smaller regional banks. They actually created a lot of flex and resiliency in the system, but the new regulations put a lot of them out of business. As a result, there are a lot less banks left to pick up the stress from something like this now.

a reply to: Violater1

It is all a sneak surprise, held under tight wraps.

The media is not widely reporting the sustained losses
that have taken place, will continue to punish shareholders
and bond holders. It’s crazy!

Nasdaq has halted multiple financial institutions:
Nasdaq Current Trading Halts
www.nasdaqtrader.com...

I believe we can all agree that this was planned.
Check out the price of BitCoin (the new world order currency). It's rocketing to the Moon.

This is really not good. We have already been warned at work we may not get our direct deposits and we will have physical checks. We are a multi million dollar tech firm with over 150 employees.

I know there are multiple outsourced or on prem payroll services that CANNOT make payroll for multiple organizations. It is not just about the big banks it is about the smaller banks tied to them. Yow know, that trickle down effect the PRogressives say does not exist.

originally posted by: matafuchs
This is really not good. We have already been warned at work we may not get our direct deposits and we will have physical checks. We are a multi million dollar tech firm with over 150 employees.

I know one of the banks just stopped making direct deposits. (In all the excitement, I forget which one.)
I don't know any way to interpret that, except: They don't have enough funds on hand to cover all the scheduled payments!

I think The MSM is suppressing some of the panic 😮

Credit Suisse shares have now fallen to a new record after the run and collapse of SVB and Signature Bank. This is excluding First Republic Bank’s collapse in CA
www.marketwatch.com...