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Does anyone know which bank IBKR brokers use for customer funds and if it is a small USA bank?
While dining on a sandwich for lunch today happened to catch a bit of Americana news. SVB is being left to strangle slowly. No help is going to be offered/ given.CEO of failed Silicon Valley Bank no longer a director at SF Fed
https://www.investing.com/news/stoc...y-bank-no-longer-a-director-at-sf-fed-3027959
hmmmm
one might wonder what shape the SF Fed is in
what happens if Fed banks start imploding
But have they overpaid?HSBC buys Silicon Valley Bank's UK business for £1
That is nominally hilariousBut have they overpaid?
Looks like a good deal for all involved, in the UK.HSBC buys Silicon Valley Bank's UK business
HSBC Holdings PLC (LSE:HSBA) announced on Monday that its UK subsidiary, HSBC UK Bank, is acquiring Silicon Valley Bank UK for £1. Reports over the weekend...www.proactiveinvestors.co.uk
That's the elephant in the room. Messy. Messy.How the heck is the Fed going to spin this? Backstop losses meanwhile inflation remains t record high?
When are they going to announce the emergency cuts?
Soft landing was always a pipe dream.Will we still have a chance at a soft landing?
Holy **** they're letting it fail?!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.
as various statements from ASX/NZX listed stocks today highlighted that TECH does not exclusively mean crypto ,While dining on a sandwich for lunch today happened to catch a bit of Americana news. SVB is being left to strangle slowly. No help is going to be offered/ given.
picking winners again ?? ( just like the GFC and March 2020 )Holy **** they're letting it fail?!
Yep, these include tech companies listed on nasdaq.as various statements from ASX/NZX listed stocks today highlighted that TECH does not exclusively mean crypto ,
however one might watch and see if the bank collapse rattles California's economy ( things like tax receipts and worker's payrolls )
let's see who picks up some of the pieces
and looks like is was Hunter Biden's pipe they were dreaming withSoft landing was always a pipe dream.
Heard later this evening workers wages are covered no mention of the big wigs or directors salary/fees though.as various statements from ASX/NZX listed stocks today highlighted that TECH does not exclusively mean crypto ,
however one might watch and see if the bank collapse rattles California's economy ( things like tax receipts and worker's payrolls )
let's see who picks up some of the pieces
Are we now seeing a domino effect As one falls into the abyss others follow to.Silvergate Bank voluntary forced liquidation by US Regulators
At least two of these banks were seen as important banking pillars for the crypto industry. According to insurance documents, Signature Bank had $88.6 billion in deposits as of Dec. 31.Breaking: Signature Bank closed by New York regulators, citing 'systemic risk'
Signature Bank has been closed, although all depositors will be fully protected, according to the Federal Reserve.cointelegraph.com
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