DTC Underwriting Alert! Section 3 (c) (7) restrictions for owners of the following issue: CITADEL FINANCE LLC
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Credit Suisse watches ~$17billion in Tier 1 Contingent Convertible Capital Instruments (CoCo) bonds become worthless. What are Contingent Convertible Capital Instruments (CoCo) bonds? More details inside.
This is starting to come up in corporate media and expect it to make its way here next as more folks are digging into:
https://www.barrons.com/articles/credit-suisse-s-coco-bonds-how-17-bn-disappeared-6283ee5f
https://www.reuters.com/markets/rates-bonds/redemption-delay-fears-send-yields-european-banks-coco-bonds-spiking-2023-03-17/
https://www.marketwatch.com/story/the-275-billion-bank-convertible-bond-market-thrown-into-turmoil-after-credit-suisses-securities-wiped-out-3cf8e295
https://www
This is not a 'bailout'! A review of the tools the Fed is leveraging ($308.063 Billion so far as of 3/15) while attempting to navigate the current environment.
Good morning Superstonk, resident jellyfish back with you! I hope everyone had a great weekend. Seeing as yesterday saw coordinated central bank action to enhance the provision of U.S. dollar liquidity, I thought it would be useful to review these tools at the Fed's disposal as they
FDIC Extends Bid Window For Silicon Valley Bridge Bank, N.A. Agency Will Continue to Operate the Bridge Bank while Exploring Strategic Options. Nobody wants these bags?
Source: https://www.fdic.gov/news/press-releases/2023/pr23022.html
The Federal Deposit Insurance Corporation (FDIC) has extended the bidding process for Silicon Valley Bridge Bank, National Association, Santa Clara, California. There has been substantial interest from multiple parties, and the FDIC and the bidders need more time to explore
Federal Reserve Alert! Coordinated central bank action to enhance the provision of U.S. dollar liquidity
Source: https://www.federalreserve.gov/newsevents/pressreleases/monetary20230319a.htm
The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank are today announcing a coordinated action to enhance the provision of liquidity via the standing U.S.
Statement by Secretary of the Treasury Janet L. Yellen and Federal Reserve Board Chair Jerome H. Powell
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Bank Run Underway? Updated commercial bank deposit data shows $54.1738 Billion in deposits removed. Last week saw it going from $17.64t to $17.61t (-$30b)--$80+ Billion removed from deposits in the last two weeks!
It gets even more interesting!
1 year ago: 3/16: 18,073.5395 Billion.
High was hit 4/13/2022: 18,130.6814 Billion.
Over half a trillion in deposits pulled in the last year!
Board of Governors of the Federal Reserve System (US), Deposits, All Commercial Banks [DPSACBW027SBOG], retrieved