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

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Yup.

Chaos, is what it is. Make the politically-appealing (the Woke) whole. Meantime, go through the ranks, closing down every zombie bank, every wobbling bank, every "troubled" bank and every bank that has people whispering darkly about it.

What all this shows, is that orderly banking, depends on TRUST. On integrity - at base, that means, people in important positions, having HONESTY.

There is none of that, now. Government is just a stream of lies. Private business leaders have the morality of grave robbers. Law is to get around.

Which means, FDIC insurance or no, you cannot trust banks. Any more than you can depend on the EPA and NTSB to deal with, say, a train wreck in your state, if you are of a region that did not vote as the Deep State demanded.
 

Regulators close Signature Bank, second shuttered by feds after SVB disaster​

US regulators shut down a second bank Sunday in a bid to stem the banking crisis after Silicon Valley Bank went down last week.

By David Propper, Lydia Moynihan, Bruce Golding
Mar 13, 2023

nypost.com

Regulators close Signature Bank, second shuttered by feds after SVB disaster

US regulators shut down a second bank Sunday in a bid to stem the banking crisis after Silicon Valley Bank went down last week.
nypost.com nypost.com
 
Bold emphasis is mine:
March 12, 2023

Joint Statement by Treasury, Federal Reserve, and FDIC​


Department of the Treasury

Board of Governors of the Federal Reserve System

Federal Deposit Insurance Corporation


Washington, DC -- The following statement was released by Secretary of the Treasury Janet L. Yellen, Federal Reserve Board Chair Jerome H. Powell, and FDIC Chairman Martin J. Gruenberg:

Today we are taking decisive actions to protect the U.S. economy by strengthening public confidence in our banking system. This step will ensure that the U.S. banking system continues to perform its vital roles of protecting deposits and providing access to credit to households and businesses in a manner that promotes strong and sustainable economic growth.

After receiving a recommendation from the boards of the FDIC and the Federal Reserve, and consulting with the President, Secretary Yellen approved actions enabling the FDIC to complete its resolution of Silicon Valley Bank, Santa Clara, California, in a manner that fully protects all depositors. Depositors will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer.

We are also announcing a similar systemic risk exception for Signature Bank, New York, New York, which was closed today by its state chartering authority. All depositors of this institution will be made whole. As with the resolution of Silicon Valley Bank, no losses will be borne by the taxpayer.

Shareholders and certain unsecured debtholders will not be protected. Senior management has also been removed. Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law.

Finally, the Federal Reserve Board on Sunday announced it will make available additional funding to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors.

The U.S. banking system remains resilient and on a solid foundation, in large part due to reforms that were made after the financial crisis that ensured better safeguards for the banking industry. Those reforms combined with today's actions demonstrate our commitment to take the necessary steps to ensure that depositors' savings remain safe.
Click to expand...

www.federalreserve.gov

Joint Statement by Treasury, Federal Reserve, and FDIC

Washington, DC -- The following statement was released by Secretary of the Treasury Janet L. Yellen, Federal Reserve Board Chair Jerome H. Powell, and FDIC Cha
www.federalreserve.gov

The Fed has essentially announced that they are going to backstop 100% of depositors across the entire banking system. This is how fragile the banking confidence game has become. If this ever gets tested by a loss of confidence broad based banks run, it's going to require the Fed to conduct massive (digital) money printing and absolutely ruin the dollar.
 
AvE 'splains everything you need to know about banking and banks

 
Buck said:
... where's the Fed gonna get that cash from? ...
Click to expand...

jerome-powell-powell.gif
 
while, behind that machine, sits out pockets, our wealth, our sweat labor....


games over kids and we're gonna get the bill, perhaps it will come during the exchange process when we hand over our fiat and receive digital assets to the cost of umm, perhaps as much as 10% on the exchange, or more
 
Buck said:
while, behind that machine, sits out pockets, our wealth, our sweat labor....


games over kids and we're gonna get the bill, perhaps it will come during the exchange process when we hand over our fiat and receive digital assets to the cost of umm, perhaps as much as 10% on the exchange, or more
Click to expand...
This is just the minutia of a Failed State unfolding.

These geniuses destroy the currency; and while they do, we're being invaded by millions of aliens. Essentially being sacked - with our Political Elites aiding and welcoming them, and supplying them with essentials and money. All printed up, as part of the currency debasement.

Soon...maybe very soon...there will be no more meaningful los Estados Unitas.
 
From one of the banks I deal with:

Dear Valued Customer,

As you have likely seen in the news, Silicon Valley Bank (SVB) collapsed and was taken over by federal regulators making it the second largest failure of a financial institution in U.S. history. The following summary is intended to provide you with an overview of what we understand caused the failure of SVB (based on media reports and publicly available information) and certain key differences between that bank and Univest Financial Corporation (Univest).

What happened to SVB?
On March 10, 2023, the Federal Deposit Insurance Corporation (FDIC) was appointed as receiver for SVB, according to the agency's statement. Based upon public information and media reports, it appears that several factors led to the collapse of SVB.

As SVB grew and generated substantial deposits, it purchased securities. Based upon public information and media reports, SVB increased the size of its securities portfolio by approximately $90 billion from December 31, 2019 until December 31, 2022. This portfolio of approximately $117 billion was largely comprised of lower-yielding fixed-rate securities (U.S. treasury and agency securities).

The Federal Reserve, in an effort to slow the economy and reduce inflation, increased short-term interest rates 450 basis points (4.50%) from March 2022 through March 1, 2023. As rates increased, the value of most securities declined substantially (including those of SVB) as bond values generally decrease as interest rates increase. As of December 31, 2022, SVB’s securities portfolio had unrealized losses of $17.7 billion equal to approximately 99% of its shareholders’ equity, excluding Accumulated Other Comprehensive Income (AOCI).

On March 8, 2023, to improve its liquidity position, SVB sold $21 billion of securities at an after-tax loss of $1.8 billion. SVB then subsequently planned to raise $2.25 billion in new equity, $1.75 billion of which was intended to be common equity. However, this new issuance would have significantly diluted existing shareholders. This proposal concerned investors and SVB’s stock price was negatively impacted. This proposal also concerned deposit holders who attempted to withdraw more than $40 billion of deposits. SVB did not have adequate liquidity to honor these withdrawals and the regulators were forced to step in.

What are the primary differences between Univest and SVB?
Note: All information is as of December 31, 2022 as that is the most recent public information filed with the SEC.
  • SVB was primarily focused on serving the venture capital community (primarily technology and life science/healthcare start-ups) in the Silicon Valley. Univest is a regional financial institution with a diversified business model.
    • Univest assets totaled $7.2 billion as of December 31, 2022. These assets included a diversified loan portfolio of $6.1 billion (84% of total assets) and a securities portfolio of only $508 million (7% of total assets).
    • SVB assets totaled $211.8 billion as of December 31, 2022. These assets included a loan portfolio of $73.6 billion (35% of total assets) and a securities portfolio of $117.4 billion (55% of total assets).
  • Univest’s securities portfolio had an unrealized loss of $71.4 million as of December 31, 2022 (approximately 9% of shareholders’ equity, excluding AOCI). SVB’s securities portfolio had an unrealized loss of $17.7 billion as of December 31, 2022 (approximately 99% of shareholders’ equity, excluding AOCI).
  • Univest’s Q4 2022 net interest margin was 3.76%. SVB’s Q4 2022 net interest margin was 2.00%.
  • Univest had $2.4 billion of available funding sources as of December 31, 2022 (45% of demand deposits). SVB had available funding sources of $35 billion as of December 31, 2022 (21% of demand deposits).
Does Univest need or intend to raise additional capital?
  • As of December 31, 2022, Univest exceeded all capital ratios and was deemed to be well capitalized in accordance with regulatory guidance.
  • Univest has no need or intention to raise additional capital at this time.
We hope you find this information to be helpful. If you have any questions, please do not hesitate to contact your Financial Center, Relationship Manager or our Customer Care Center at 877.723.5571. Thank you for being a customer and allowing us to serve your financial needs.

Sincerely,
Jeffrey M. Schweitzer
President and CEO
Univest Financial Corporation
Michael S. Keim
President
Univest Bank and Trust Co.
 
All the crazy is internet stuff. Doom & gloom sells. Gotta feed their heads. Let em go nuts. Good for clicks (ratings.)

Look at how much milage they get outta things.

Gotta keep the dereg info quiet. Shhhhh. Don't let em know - they may blow.

It's the self preservation society.

Sit back and watch the show.
 
Saw this image posted on another forum:

6FC1A90F-7452-43FE-A10E-6DFA96E3D2CF.jpeg


It's a joke though (not a real tweet).
 
Sometimes you win, sometimes you lose... short covering?

 
Yeah, there are more details at the link posted in the crypto thread, but Barney Frank is apparently a board member of Signature Bank.
 
Number 2 today.

Dear Member,

You may have recently heard the news about the stability of the banking industry after the Silicon Valley Bank (SVB) collapse on Friday. We’d like to take this opportunity to be transparent with members and provide peace-of-mind about PFFCU’s financial strength and our commitment to keeping members’ deposits safe. PFFCU continues to have a very strong balance sheet with $1.9 billion of cash at the Federal Reserve Bank and risk-averse lending and investment policies and practices. PFFCU’s cash at the Federal Reserve continues to earn higher interest and enables us to provide our members significantly better deposit yields, much higher than our bank competitors. Last year, we had a record year in profitability enabling PFFCU to return $22 million to our members in the form of a Member Bonus. According to an article in CU Times, in 2022, PFFCU was one of only four other credit unions that paid a Member Bonus - with PFFCU’s Member Bonus being the largest by far.

Members also have the added peace-of-mind knowing their funds are insured by the NCUA, the national governing body for federal credit unions. NCUA insures Credit Unions in a similar manner to what the FDIC does for Banks. Because PFFCU is a member-owned, not-for-profit credit union, we have always provided lower loan rates, higher deposit yields and fewer fees than the for-profit banks, and will continue to do so. We thank you for Trusting PFFCU to be your primary financial services provider and we’re committed to providing exceptional Member Service and keeping you informed.
 
A bank is as safe as the people running it.

We live in a world where we've gotten past all that bourgeois morality...all that Ten Commandments stuff, all that absolutism about Right and Wrong. No, what matters is what's legal and what's illegal; and whether you can make what you want to do, legal, or get around enforcement. Because it's all relative, right? Like "genders." Fifty-seven and counting...and I am what I feel I am when I feel it.

So, your bank is safe, when we say it's safe. It's safe today; safe tomorrow; safe next week. But April 1...we might not be feeling so safe.
 
Good interview

Bloodbath Has Just Begun: ‘Dr. Doom’ Roubini Says We’re Solely in First Inning of Major Debt Crisis​

Stansberry Research
31m
 
Instant Karma?

Signature Bank de-banked Trump after Jan 6—now the regulators have shut them down​

On January 12, 2021, the bank told The New York Post that it had begun the process of closing Trump’s two personal accounts and “will not do business in the future with any members of Congress who voted to disregard the Electoral College.”

thepostmillennial.com

Signature Bank de-banked Trump after Jan 6—now the regulators have shut them down

On January 12, 2021, the bank told The New York Post that it had begun the process of closing Trump’s two personal accounts and “will not do business in the future with any members of Congress who voted to disregard the Electoral College.”
thepostmillennial.com thepostmillennial.com
 
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