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FINAL Rule for Money Market Fund Reforms; Form PF Reporting Requirements for Large Liquidity Fund Advisers; Technical Amendments to Form N-CSR and Form N-1A.

FINAL Rule for Money Market Fund Reforms; Form PF Reporting Requirements for Large Liquidity Fund Advisers; Technical Amendments to Form N-CSR and Form N-1A.

"Future stressed periods may be more protracted or more severe than in March 2020, particularly absent Federal Reserve action." Effective October 2nd Wut mean?: * The SEC has removed the ability for fund boards to stop money take-outs when their available cash gets too low. * Change in Liquidity Fees:

Fitch Downgrades the United States' Long-Term Ratings to 'AA+' from 'AAA'. "A mild recession is anticipated in late 2023 and early 2024."

Fitch Downgrades the United States' Long-Term Ratings to 'AA+' from 'AAA'. "A mild recession is anticipated in late 2023 and early 2024."

Yellen in response: “I strongly disagree with Fitch Ratings’ decision. The change by Fitch Ratings announced today is arbitrary and based on outdated data." https://www.fitchratings.com/research/sovereigns/fitch-downgrades-united-states-long-term-ratings-to-aa-from-aaa-outlook-stable-01-08-2023 https://home.treasury.gov/news/press-releases/jy1665 Fitch Ratings has downgraded the United States of America's

Banks are in PAIN! About half of U.S. banks (2,315) with $11T of assets have a lower value of their assets compared to the face value of their debt liabilities. The market value of their assets is about $2.2T lower than the book-value accounting.

Banks are in PAIN! About half of U.S. banks (2,315) with $11T of assets have a lower value of their assets compared to the face value of their debt liabilities. The market value of their assets is about $2.2T lower than the book-value accounting.

If half of uninsured depositors decide to withdraw, the losses due to CRE distress would result in up to 58 smaller regional banks becoming insolvent in addition to 186 banks that would become insolvent just due to higher rates. Wut Mean?: The U.S. banking system’s market value of

$1.859 trillion is what Treasury expects to borrow the rest of the year. For the 3rd quarter, Treasury expects to borrow $1.007 trillion in privately-held net marketable debt. For the 4th quarter Treasury expects to borrow $852 billion.

Source: https://home.treasury.gov/news/press-releases/jy1662 The U.S. Department of the Treasury today announced its current estimates of privately-held net marketable borrowing[1]for the July – September 2023 and October – December 2023 quarters. During the July – September 2023 quarter, Treasury expects to borrow $1.007 trillion in

July 2023 Senior Loan Officer Opinion Survey on Bank Lending Practices. Banks plan to further tighten lending standards across all loan types.

July 2023 Senior Loan Officer Opinion Survey on Bank Lending Practices. Banks plan to further tighten lending standards across all loan types.

Why? Expected decline in collateral value, Anticipated decrease in credit quality, Predicted liquidity challenges, & Deposit Outflows. https://www.federalreserve.gov/data/documents/sloos-202307-fullreport.pdf Table 1 (PDF) | Table 2 (PDF) | Charts (PDF) Wut Mean?:Commercial and Industrial (C&I) Lending: * Banks tightened standards for C&I loans

Heartland Tri-State Bank of Elkhart, Kansas, was closed today by the Kansas Office of the State Bank Commissioner, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. Called it!

Heartland Tri-State Bank of Elkhart, Kansas, was closed today by the Kansas Office of the State Bank Commissioner, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. Called it!

Source: https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/heartlandtristate.html Heartland Tri-State Bank of Elkhart, Kansas, was closed today by the Kansas Office of the State Bank Commissioner, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect depositors, the FDIC entered into a purchase and assumption

Commercial and Industrial loans slide for the second week in a row. Commercial and industrial lending has fallen for four months in a row, yet GDP up 2.4% last quarter?

Hello and HAPPY FRIDAY Superstonk, I hope everyone's weekend is off to a great start! Reminder, while banks have the liquidity fairy, 'we' get the promise of 2 more rate hikes this year, Atlanta Fed President Raphael Bostic yet again enrichens himself inappropriately from his position.