SEC Alert! Statement by SEC Chair Gary Gensler on Current Market Events: 'Without speaking to any individual entity or person, we will investigate and bring enforcement actions if we find violations of the federal securities laws.'
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FDIC Establishes Signature Bridge Bank, N.A., as Successor to Signature Bank, New York, NY. Banking activities will resume Monday, March 13, 2023, including on-line banking.
Source: https://www.fdic.gov/news/press-releases/2023/pr23018.html
Signature Bank, New York, NY, was closed today by the New York State Department of Financial Services, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect depositors, the FDIC transferred all the deposits and substantially all of
Joint Statement by Treasury, Federal Reserve, and FDIC: Today we are taking decisive actions to protect the U.S. economy by strengthening public confidence in our banking system.
Source: https://www.federalreserve.gov/newsevents/pressreleases/monetary20230312b.htm
The following statement was released by Secretary of the Treasury Janet L. Yellen, Federal Reserve Board Chair Jerome H. Powell, and FDIC Chairman Martin J. Gruenberg:
Today we are taking decisive actions to protect the U.S. economy by strengthening public
Federal Reserve Alert! Federal Reserve Board announces 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
Source: https://www.federalreserve.gov/newsevents/pressreleases/monetary20230312a.htm
To support American businesses and households, the Federal Reserve Board on Sunday announced it will make available additional funding to eligible depository institutions ย to help assure banks have the ability to meet the needs of all their depositors. ย This action will
foobar on Twitter: people don't appreciate decentralized bearer assets enough. decentralized - nobody else can adhoc modify it. bearer - if you hold it, it's yours. no counterparties. asset - socially accepted to have value.
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FDIC Alert! FDIC Chairman Martin Gruenberg begins finger pointing at the Fed in speech 3/6/23: 'unrealized losses weaken a bankโs future ability to meet unexpected liquidity needs' 'especially when interest rates change to the extent they have'
Source: https://www.fdic.gov/news/speeches/2023/spmar0623.html
'Juicy' sections of his speech:
Full speech:
Introduction
Good morning. I very much appreciate the invitation to speak to you today. I am especially glad to be here in person. Looking back to pre-pandemic days, there may have
Contagion spreading? Binance has temporarily suspended auto-conversion of USDC to BUSD due to current market conditions, specifically related to high inflows & the increasing burden to support the conversion.
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