#USA banks at breaking point!

Firestorm looms as S&P downgrades more #US banks.
And it gets even worse.
The #FDIC is moving to force banks to take on long-term debt that could crush profits and trigger another banking crisis.
The fuse of the destruction of the US economy has been lit!

Crypto highlighted as 'novel and complex' risk to US banks: FDIC report - The FDIC warns that uncertainty around crypto's legal status, the... - https://cointelegraph.com/news/fdic-highlights-crypto-risk-to-banking-in-2023-review #cryptobanking #bankingrisks #cryptobanks #stablecoin #riskreview #crypto #fdic

In un mondo ideale, gli choc ciclici alle #banche sarebbero assorbiti da un'assicurazione #UE sui depositi, come già fa #FDIC. Nel mondo reale, l'#UnioneBancaria resta un miraggio e gli stati hanno speso miliardi su salvataggi fiscalmente regressivi (vedi MPS e obbligazioni subprime). È logico quindi ammettere anche provvedimenti uguali e contrari per i periodi di grassa. Il diavolo è nei dettagli.

Heartland Tri-State Bank with $139B in assets and $130B in deposits has failed and been purchased by Dream Bank along with a shared-loss agreement with the #FDIC.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $54.2 million

#BankFailure

https://www.fdic.gov/news/press-releases/2023/pr23058.html

Mon 7/10 - No MAGA Hats for Mail Carriers, Greenberg Traurig Moves Towards Private Credit, IRS Changes to Dirty Dozen, SVB Sues FDIC and Van Houten Release

We have no MAGA hats for mail carriers, Greenberg Traurig eyes private credit market, #IRS changing process for Dirty Dozen tax schemes, #SVB sues the #FDIC and Manson follower parole likely.

#lawfedi @law

https://www.minimumcomp.com/p/mon-710-no-maga-hats-for-mail-carriers

#unredacted #FDIC doc released to #BloombergNews due to #SiliconValley #Bank Collapse #FOIA request, provides detailed glimpse into now #taxpayer backed #VentureCapital #StartUps & #Chinese #Investors saved by another USA #bankster #BailOut

https://www.bloomberg.com/news/articles/2023-06-23/fdic-insured-billions-in-deposits-for-sequoia-other-top-svb-customers

@acemaxxanalytics There is an important lesson here: the next financial crisis will likely involve a #bankrun as had happened with #SVB because smaller companies are likely to "take their money and run" first, then ask questions later when they hear that the bank that has their money is in trouble. This is especially true given the mixed-to-nonexistent nature of deposit insurance around the world. Just ask what happened to money at SVB's Cayman Islands subsidiary: it has been seized by the #FDIC

US FDIC Says OKCoin Made False Statements About Deposit Insurance and Demands Corrections - The US Federal Deposit Insurance Corporation sent a letter to OKCoin USA, Inc., demanding... - https://cryptonews.com/news/us-fdic-says-okcoin-made-false-statements-about-deposit-insurance-demands-corrections.htm #blockchainnews #okcoin #fdic

OKCoin Accused by FDIC of Making False Claims About Customer Protections - OKCoin must scrub misleading statements that suggest its customers’ accounts are protecte... - https://www.coindesk.com/policy/2023/06/16/okcoin-accused-by-fdic-of-making-false-claims-about-customer-protections/?utm_medium=referral&utm_source=rss&utm_campaign=headlines #federaldepositinsurancecorporation #regulations #policy #okcoin #legal #news #fdic #okx

So this begs the question: If the #FDIC creates temporary #publicbanks, why not make them permanent? California has been laying the groundwork that may allow us to do just that. In 2021, Assembly Bill 1177 was signed into law by Gov. Gavin Newsom to create a commission to study a statewide public banking option. And in 2019, Assembly Bill 857 amended the California Financial Code to authorize the formation of public banks; and created a #regulatory #framework for the operation of public banks.

https://www.smdailyjournal.com/opinion/guest_perspectives/it-s-time-for-a-public-bank/article_27391a5c-0408-11ee-81be-cf101fc90b1e.html

US Govt stands behind the typical #CD #CertificatesOfDeposit - with #FDIC insuring up to $250,000 per depositor against loss.

#FDIC proposes big banks pay to recover losses in #SVB and Signature failures https://www.axios.com/2023/05/11/fdic-silicon-valley-signature-bank

Billionaire Bill Ackman on US Banking Crisis: We Are Running Out of Time to Fix This Problem - Billionaire Bill Ackman has warned that “We are running out of time” to fix the pr... - https://news.bitcoin.com/billionaire-bill-ackman-on-us-banking-crisis-we-are-running-out-of-time-to-fix-this-problem/ #federalreserve #bankingcrisis #regionalbanks #bankfailures #billackman #economics #fdic

-
It's a Wonderful Life

Bank Run

#svb #FirstRepublic #WesternAllianceBancorp #JPMorgan #GoldmanSachs #FDIC #Fed #corruption #confidence #BeenThere #DoneThat
#revolution

US Banking Industry in Turmoil: A Comprehensive Look at the ‘Great Consolidation’ and Largest Bank Failures of 2023 - 2023 has been a rollercoaster ride for the U.S. banking industry. The collapse of ... - https://news.bitcoin.com/us-banking-industry-in-turmoil-a-comprehensive-look-at-the-great-consolidation-and-largest-bank-failures-of-2023/ #westernalliancebancorp #financialinstitutions #marketcapitalizations #commercialrealestate #fdic-insureddeposits #u.s.bankingindustry #bankfailures

Democratic Presidential Candidate Robert F. Kennedy Jr. Says It Is a “Mistake” To Hinder Crypto - Democratic presidential candidate Robert F. Kennedy Jr. has taken to Twitter over the pas... - https://cryptonews.com/news/democratic-presidential-candidate-robert-f-kennedy-jr-says-it-mistake-hinder-crypto.htm #securitiesandexchangecommission #presidentialcampaign #blockchainnews #cryptomining #whitehouse #democrat #policy #fdic

And the final deal included the $50bn line of credit for #JPMorgan as well as a loss-sharing agreement with #FDIC - What’s more, #FirstRepublic ’s failure and sale to #JPMorgan will result in a loss of $13bn to FDIC.

#JPMorgan bought #FirstRepublic on Monday - #FDIC said earlier on Monday the resolution involved a "highly competitive bidding process," and was the least costly alternative for its #deposit insurance fund, chart @ReutersBiz https://cutt.ly/f5Xo7zP

Banking system safe
Government ensures all safe
Depositors secure

#banking #fdic #jpmorgan #firstrepublicbank #haiku #poetry

https://www.msnbc.com/msnbc/watch/biden-assures-that-all-depositors-from-first-republic-bank-will-be-protected-172062789560

US Bank Failures 2001 to May 2023

https://www.reddit.com/r/dataisbeautiful/comments/134x1kz/oc_us_bank_failures_inflation_adjusted/

#bank #bankfailure #bankingcrisis #FDIC