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New York Fed President John Williams: "I personally donโ€™t think it was the case that the pace of rate increases was really behind the issues at the two banks back in March". Counterargument that it is the Fed's fault detailed inside.

Sources: https://thebrunswicknews.com/news/business/fed-s-williams-dismisses-link-between-rapid-rate-hikes-and-bank-stress/article_f8fb3bf7-7ed0-5eaf-89ba-d78a14c3acd5.html https://money.usnews.com/investing/news/articles/2023-04-10/feds-williams-doubts-monetary-policy-spiked-banking-sector-stress https://www.bloomberg.com/news/articles/2023-04-10/williams-dismisses-link-between-rapid-fed-hikes-and-bank-stress New York Fed President John Williams. He is also vice-chairman of the rate-sett
dismal-jellyfish ๐Ÿ“š Due Diligence

Commodity Futures Trading Commission Alert! CFTC Orders Goldman Sachs to Pay $15,000,000 for Violations of Swap Business Conduct Standards.

Goldman opportunistically solicited or agreed to enter into same-day swaps only on days & at times that were financially advantageous to Goldman & not clients. Source: https://www.cftc.gov/media/8376/enfgoldmanorder041023/download (Requests that you download the PDF, relevant sections added below). Background: The order finds that in
dismal-jellyfish ๐Ÿ“ˆ Macroeconomics

Federal Reserve Alert! Today, a CLOSED meeting of the Board of Governors of the Federal Reserve System was held under expedited procedures as it was determined that the public interest did not require opening the meeting.

https://www.federalreserve.gov/aboutthefed/boardmeetings/20230410closed.htm Discount Window/Primary Credit: https://fred.stlouisfed.org/series/WLCFLPCL Tool3/153/223/294/5Discount Window/Primary Credit$152.85 billion$110.248 billion$88.157 billion$69.705 billion Primary Credit allows banks to borrow against collateral at the current federal
dismal-jellyfish ๐Ÿ“ˆ Macroeconomics

SEC Alert! SEC will hold an OPEN Meeting Friday, April 14, 2023 at 10:00 a.m. to consider whether to reopen the comment period for proposed amendments to Rule 3b-16: Amendments Regarding the Definition of โ€˜โ€˜Exchangeโ€™โ€™ and Alternative Trading Systems (ATS)

Source: https://public-inspection.federalregister.gov/2023-07755.pdf SEC will hold an OPEN Meeting Friday, April 14, 2023 at 10:00 a.m. to consider whether to reopen the comment period for proposed amendments to Rule 3b-16: Amendments Regarding the Definition of โ€˜โ€˜Exchangeโ€™โ€™ and Alternative Trading Systems (ATS) That Trade U.
dismal-jellyfish ๐Ÿงฑ Market Reform

SEC Alert! OPEN for comment: The SEC is soliciting comments on the existing collection of information provided for in Rule 15c2-11.

Rule 15c2-11 is designed to prevent broker-dealers from publishing or submitting quotations for OTC securities that may facilitate a fraudulent or manipulative scheme. Source: https://public-inspection.federalregister.gov/2023-07495.pdf https://public-inspection.federalregister.gov/2023-07495.pdf * Rule 15c2-11 governs the publication of quotations for securities in a quotation medium other
dismal-jellyfish ๐Ÿงฑ Market Reform

$110.992 billion withdrawn from commercial banks in the last week (Mar 22-29th). Since 2/22/2023, $500.1433 billion in deposits have been pulled. $967.516 billion in deposits has been pulled in the last year. The bank run keeps running!

https://fred.stlouisfed.org/series/DPSACBW027SBOG A little less than a year ago, the high was hit 4/13/2022 at $18,158.3536 billion Folks have pulled $967.516 billion in deposits since 4/13/2022 Folks have pulled $500.1433 billion in deposits since 2/22/2023 Folks
dismal-jellyfish ๐Ÿ“ˆ Macroeconomics