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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.

Dems give Fed ‘veto power’ over crypto bills, Rep. Ritchie Torres says. ‘I cannot for the life of me understand why we should give veto power to regulators over bipartisan regulation and compromise,’ Torres said

Source: https://www.marketwatch.com/story/dems-give-fed-veto-power-over-crypto-bills-rep-torres-says-d2d1d719 Highlights: * Both Democrats and Republicans agree on the need for stablecoin legislation. * Rep. Ritchie Torres claims his party’s strong alignment with the White House and financial regulators has hampered reaching a compromise. * Negotiations on the House Financial Services Committee's stablecoin

Agencies update guidance on liquidity risks and contingency planning. "The updated guidance encourages depository institutions to incorporate the discount window as part of their contingency funding plans." The liquidity fairy is now ENCOURAGED?

https://www.federalreserve.gov/newsevents/pressreleases/files/bcreg20230728a1.pdf * The Fed * Federal Deposit Insurance Corporation * National Credit Union Administration * Office of the Comptroller of the Currency Wut mean?: Given the unpredictable financial events in the first half of 2023, it's emphasized that depository institutions should have robust contingency

In June, folks earned a bit more in, spent more, causing PCE, excluding food and energy (the Fed's barometer for if inflation is still growing) to jump up .2% for the month and 4.1% year-over-year. Still more than DOUBLE the Fed's target of 2%!

In June, folks earned a bit more in, spent more, causing PCE, excluding food and energy (the Fed's barometer for if inflation is still growing) to jump up .2% for the month and 4.1% year-over-year. Still more than DOUBLE the Fed's target of 2%!

https://www.bea.gov/news/2023/personal-income-and-outlays-june-2023 Wut mean?: * In June, people earned $69.5 billion more, which is a 0.3% monthly rise--more money earned more money to spend, adding to inflation... * Prices of things people bought (PCE price index) went up slightly by 0.2%. Even if we

Liquidity Fairy Alert! Bank Term Funding Program usage UP 2.1% AGAIN ($105.078B vs $102.927B on 7/19), marking the 8th straight week over $100B.

Liquidity Fairy Alert! Bank Term Funding Program usage UP 2.1% AGAIN ($105.078B vs $102.927B on 7/19), marking the 8th straight week over $100B.

This looks more and more like there's an over-reliance on Fed Funding--growing faster than inflation 'should be'. I believe BTFP is a moral hazard. Good afternoon Superstonk, HAPPY almost Friday! Borrowing from the Bank Term Funding Program hit a NEW all time high--the 8th straight week

The Fed announces the individual capital requirements for all large banks, effective on October 1. The minimum capital requirement is 4.5 percent; The stress capital buffer requirement is at least 2.5 percent. Buckle up!

The Fed announces the individual capital requirements for all large banks, effective on October 1. The minimum capital requirement is 4.5 percent; The stress capital buffer requirement is at least 2.5 percent. Buckle up!

Source: https://www.federalreserve.gov/publications/files/large-bank-capital-requirements-20230727.pdf Wut mean?: * Following its stress test earlier this year, the Federal Reserve Board today announced the individual capital requirements for all large banks, effective on October 1. Large bank capital requirements are in part determined by the Board's stress

Sunshine meeting notice for meting that the public interest did not require consideration & already occurred today at 11:16a.m., considered RESOLUTION activities. Bank fail?

Sunshine meeting notice for meting that the public interest did not require consideration & already occurred today at 11:16a.m., considered RESOLUTION activities. Bank fail?

https://public-inspection.federalregister.gov/2023-16306.pdf A bank resolution occurs when authorities determine that a failing bank cannot go through normal insolvency proceedings without harming public interest Resolution is a way to manage the failure of a bank, building society, or central counterparty. TLDRS: * Sunshine meeting notice for meting that