No banks are safe (bail ins, FDIC limits, systemic risks)

[pmbug]

GSIBs still crying about Basel III capital requirements. They better hope they never find out if those "stress tests" are just a sham.

 

[Goldhedge]

The Fund Created to Unwind a Failing Megabank Has a Problem: There’s No Money in It​

By Pam Martens and Russ Martens: July 9, 2024 ~

Last week the American Banker published an opinion article by Arthur E. Wilmarth, Jr., the Professor Emeritus of Law at George Washington University. Wilmarth is the man who wrote the seminal book on the continuing threat to financial stability posed by U.S. megabanks – the same ones that blew up Wall Street and the U.S. economy in 2008.

more

The Fund Created to Unwind a Failing Megabank Has a Problem: There’s No Money in It

By Pam Martens and Russ Martens: July 9, 2024 ~ Last week the American Banker published an opinion article by Arthur E. Wilmarth, Jr., the Professor

wallstreetonparade.com

 

[Goldhedge]

covers the gamut from banking to PM's

Jon Dowling & Bill Holter Discuss Latest Updates, Finance & Precious Metals​

28

 

[Goldhedge]

Ho Lees Hit

 

[Casey Jones]

Ho Lees Hit

Psyop agitprop.

This is CHY-NUH. Where Coe-Vidd struck down healthy people on the streets, by the thousands. Where we got videos of stacks of bodies in makeshift morgues - occasionally sitting up or blinking.

It's ALSO the place where people RUSH to put their money into GOLD. They don't trust banks, and they aren't allowed to buy stocks. So they buy land and gold.

And for that reason, they may think they're better-enough off, to start bank runs...IN THE WEST.

To me this seems a ploy to gin up panic in Europe and America. It's no secret that our house of cards is starting to shake...they want it DOWN.

 

[Goldhedge]

unrealized gains on banks balance sheets $700B

World's Most Powerful Economic Indicator Just Gave Extreme Warning Sign​

29

 

[Goldhedge]

 

[Goldhedge]

 

[searcher]

If interested I posted a vid about Schwab here:

Savers Need To Get Paid Again

Revealed: The Hidden Message in the Horrible 30 Year Treasury Bond Auction Nov 10, 2023 10:33 Thursday's 30 Year Treasury Bond Auction was horrible by all measures. The higher interest rate and lack of foreign buyers may signal that long term Treasury Bond interest rates have a lot higher to...

www.pmbug.com

Like to read:

Charles Schwab Stock Sinks as CEO Says Bank Will Get 'Smaller'

Charles Schwab shares tumbled in intraday trading Tuesday after CEO Walt Bettinger said in an earnings call that its bank plans to downsize in order to maintain profitability.

www.investopedia.com

 

[Goldhedge]

A repost by "Freedom" on YT... once you get past all the (irritating LOL) inserts it's informative. 'Banking' comes in after the Biden bit.
Tucker was still at FOX - a great 'study' on WOKEness

Tucker Carlson : Jaw Dropping Revelation​

 

[Goldhedge]

 

[Voodoo]

Don't tell the Stonk market. Something odd is going on but KRE (the worst of the banks IMO) is soaring. Even with this market downturn (mostly tech). This will be a fantastic short, only to be outdone by CVNA or the homebuilders at some point.

 

[Goldhedge]

JPMorgan Chase, Wells Fargo and Bank of America Refuse To Reimburse $880,000,000 To Customers, Accused of ‘Repeated, Relentless Failure’ To Protect Victims of Fraud​

A US Senate investigation is shedding light on just how often America’s big banks refuse to reimburse victims of fraud.

The Permanent Subcommittee on Investigations says JPMorgan Chase, Wells Fargo and Bank of America collectively refused to reimburse $880 million in Zelle transactions that customers reported as fraud between 2021 and 2023.

Specifically, the banks refused to reimburse $320 million to customers who were hit by unauthorized transactions – and rejected an additional $560 million in reimbursement to customers who were tricked into authorizing an illicit transaction.

The new numbers are the centerpiece of the subcommittee’s report on Zelle’s practices, entitled “A Fast and Easy Way To Lose Money: Insufficient Consumer Protection on the Zelle Network.”

The report says the percentage of consumers reimbursed for disputed Zelle transactions at the three major banks has plummeted from 62% in 2019 to 38% in 2023.

It also raises concerns about potential age bias and vulnerabilities, finding customers under 35 years-old were reimbursed at lower rates than older consumers across Zelle.

more

JPMorgan Chase, Wells Fargo and Bank of America Refuse To Reimburse $880,000,000 To Customers, Accused of 'Repeated, Relentless Failure' To Protect Victims of Fraud - The Daily Hodl

A US Senate investigation is shedding light on just how often America's big banks refuse to reimburse victims of fraud.

dailyhodl.com

 

[Goldhedge]

 

[searcher]

Federal Reserve found ‘significant deficiencies’ in AML, Bank Secrecy compliance at Customers Bank

The Federal Reserve and Customers Bank filed a written agreement on Thursday, with a plan to disclose operations and crypto risk exposure.

blockworks.co

 

[pmbug]

^^^ --> https://www.pmbug.com/threads/americas-war-on-crypto.5711/post-108671

 

[searcher]

Good read here. Only problem is where to put it. It will fit in here but could also fit in the Fiat Crimes thread. Well, I'm already here so wtf.

How the world’s oldest bank brought a city to its knees​

Monte dei Paschi has been Siena’s benefactor since 1472. But, in recent years, a multibillion-euro scandal in pursuit of aggressive growth has dealt it a crushing blow
______________

The footage is grainy, but the shape of the plunging body is unmistakable. A middle-aged man dressed in a white shirt, dark grey trousers and black leather shoes falls directly down in a seated position, facing the wall of a medieval alleyway. As his legs hit the wet cobblestones below, his body bounces back a metre, then falls back with arms outstretched behind his head.

The time reads 7.59pm on March 6 2013. Over the next 22 minutes, the CCTV camera captures the head and arms writhing, eventually falling still. It takes nearly an hour for paramedics to arrive on the scene. During that time, two figures enter the cul-de-sac. One, wearing a blue puffer jacket and a light flat cap, approaches the body, apparently checking for signs of life. After a few moments, the pair slink away back into the shadows.

David Rossi was 51 when he died. He was the communications director at the oldest bank in the world, Monte dei Paschi di Siena, and the bank was under threat. A multibillion-euro scandal threatened to bring more than five and a half centuries of rich history to an end.

More:

https://archive.ph/qi6B8

 

[searcher]

DNE opinion piece, dyodd.

Where We Keep Our Money | Top 8 Safest US Banks To Keep Your Money 2024​

Aug 23, 2024 #jenniferlammer #bondbeginners #bondmasters

The top 8 safest banks for your money in the US (updated for 2024), what’s changed since last year's banking crisis, what's our view on Merrill Edge & E-Trade, plus what do the latest bank & credit union failure numbers tell us? Watch on & find out in our brand new 8 safest banks to keep your money for 2024!


16:29

SOURCES FOR TODAY'S VIDEO:

- https://www.fsb.org/2023/11/2023-list-of-global-systemically-important-banks-g-sibs/
- https://www.fdic.gov/resources/resolutions/bank-failures/in-brief/index
- https://ncua.gov/support-services/conservatorships-liquidations

 

[Voodoo]

Bank stocks soared today cause FED might lower rates a bit (though really bad for bankers) while insiders are leaking just how bad the situation is. Lol, something is gonna break big time.

 

[searcher]

USAA to Pay $64.2 Million to Service Members in Settlement over Improper Bank Fees, Interest

The San Antonio-based company moved to settle a three-year-old class-action suit over alleged violations of the Servicemembers Civil Relief Act.

www.military.com

 

[Goldhedge]

Hypothication - YOU are the collateral​

 

[pmbug]

... The U.S. Federal Reserve is considering a rule change that could save the country's eight largest banks combined billions of dollars in capital, in a potential long-sought win for the industry, according to four people with knowledge of the matter.

At issue is how the central bank calculates an extra layer of capital it imposes on U.S. global systemically important banks (GSIBs), known as the "GSIB surcharge," which it introduced in 2015 to boost their safety and soundness. ...

Following its stress test earlier this year, the Federal Reserve Board on Wednesday announced final individual capital requirements for all large banks, effective on October 1.

Large bank capital requirements are informed by the Board's stress test results, which provide a risk-sensitive and forward-looking assessment of capital needs. The table shows each bank's common equity tier 1 capital requirement, which is made up of several components, including:

• The minimum capital requirement, which is the same for each bank and is 4.5 percent;
• The stress capital buffer requirement, which is based in part on the stress test results and is at least 2.5 percent; and
• If applicable, a capital surcharge for the largest and most complex banks, which is updated in the first quarter of each year to account for the overall systemic risk of each of these banks.

If a bank's capital dips below its total requirement announced today, the bank is subject to automatic restrictions on both capital distributions and discretionary bonus payments.

Also today, the Board announced that it had modified the stress capital buffer requirement for Goldman Sachs, after the firm's request for reconsideration. Based on an analysis of additional information presented by the firm in its request, the Board determined it would be appropriate to adjust the treatment of particular historical expenses incurred by the bank in the stress testing models' input data, due to the non-recurring nature of those expenses. As a result, the bank's stress capital buffer requirement has been adjusted to 6.2 percent from a preliminary 6.4 percent.

The Board is focused on continuously improving the stress testing framework. To that end, the Board will analyze whether to revise regulatory reporting forms to better capture these types of data and to explore possible refinements to certain model components.

Federal Reserve Board announces final individual capital requirements for all large banks, effective on October 1

Following its stress test earlier this year, the Federal Reserve Board on Wednesday announced final individual capital requirements for all large banks, effect

www.federalreserve.gov