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FDIC Alert! JPMorgan Chase Bank, National Association, Columbus, Ohio Assumes All the Deposits of First Republic Bank, San Francisco, California. FDIC entering loss-share transaction agreement to share the losses with JP Morgan.

Source: https://www.fdic.gov/news/press-releases/2023/pr23034.html First Republic Bank, San Francisco, California, was closed today by the California Department of Financial Protection and Innovation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect depositors, the FDIC is entering into a purchase and assumption

+$21 billion deposited in commercial banks in the last week (April 12th-April 19h). Since 2/22/2023, $492 billion in deposits have been pulled. $960 billion in deposits has been pulled in the last year.

https://fred.stlouisfed.org/series/DPSACBW027SBOG Domestically chartered commercial banks divested $87 billion in assets to nonbank institutions in the week ending March 29, 2023. The major asset item affected was the following: securities, $87 billion. Domestically chartered commercial banks divested $87 billion in assets to nonbank institutions in the

Federal Reserve Alert! Sunshine Meeting Notice for a CLOSED meeting under Expedited Procedures of the Board of Governors of the Federal Reserve System at 10:00 a.m. on Tuesday, May 2, 2023.

Matter considered: Discussion of Monetary Policy Issues https://www.federalreserve.gov/aboutthefed/boardmeetings/20230502closed.htm TLDRS: * A closed meeting of the Board of Governors of the Federal Reserve System will be held under expedited procedures at 10 a.m. on Tuesday, May 2, 2023. * Matter(s) considered: Discussion of Monetary

The FDIC admits to being asleep at the wheel regulating Signature Bank! How many more banks should the FDIC escalated supervisory actions sooner on? At what point should supervisory action be escalated for First Republic?

Source: https://www.fdic.gov/news/press-releases/2023/pr23033a.pdf Reddit post with discussion: https://www.reddit.com/r/Superstonk/comments/1322q1f/fdic_releases_report_detailing_supervision_of_the/ The Fed admits it is asleep at the wheel as well: Reddit Post

FDIC Releases Report Detailing Supervision of the Former Signature Bank, New York, New York

FDIC Releases Report Detailing Supervision of the Former Signature Bank, New York, New York

https://www.fdic.gov/news/press-releases/2023/pr23033a.pdf Federal Deposit Insurance Corporation (FDIC) Chief Risk Officer Marshall Gentry released FDIC’s Supervision of Signature Bank, an internal review evaluating the agency’s supervision of Signature Bank, New York, New York, from 2017 until its failure in March 2023. The

So the Fed is asleep at the wheel? How many more firms has the Fed not appreciated the seriousness of critical deficiencies in a firm’s governance, liquidity, and interest rate risk management? Don't they stress test for this stuff?!?

Source: Federal Reserve Board announces the results from the review of the supervision and regulation of Silicon Valley Bank, led by Vice Chair for Supervision Barr Federal Reserve Alert! Vice Chair for Supervision Michael S. Barr in speech 12/1/2022: "We are currently evaluating whether the supervisory stress

Federal Reserve Board announces the results from the review of the supervision and regulation of Silicon Valley Bank, led by Vice Chair for Supervision Barr

Federal Reserve Board announces the results from the review of the supervision and regulation of Silicon Valley Bank, led by Vice Chair for Supervision Barr

https://www.federalreserve.gov/publications/files/svb-review-20230428.pdf Source:https://www.federalreserve.gov/newsevents/pressreleases/bcreg20230428a.htm The Federal Reserve Board on Friday announced the results from the review of the supervision and regulation of Silicon Valley Bank, led by Vice Chair for Supervision Michael S. Barr. The review finds