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The Bank Term Funding Program (BTFP) is experiencing its own MOASS!

Catching up: BTFP usage explodes & program end date announced, credit card debt jumps 17.7% in November, $28 million to whistleblowers, Uyeda new term, Korea punishes illegal short selling, GameStop NFT Project update, and much more!

Hello and Happy New Year, I hope you and yours had a happy, safe, and healthy holiday season! For me, I was able to go away on holiday for the first time in half a decade plus and it was fantastic--great to be able to unplug and recharge in warmth
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Deutsche refuses to pay maturity presentments for this issuerโ€™s institutional certificate of deposit.

DTC received notification from Deutsche Bank Trust Company America, the MMI issuing/paying agent for OVERSEA-CHINESE BANKIN (OVR*), Deutsche refuses to pay maturity presentments for this issuerโ€™s institutional certificate of deposit.

* Certificates of Deposit (CDs) are time-bound deposit accounts held at banks that typically offer a fixed interest rate in return for keeping the money deposited for a set period. * Deutsche Bank Trust Company America is acting as an MMI (Money Market Instrument) issuing/paying agent. * As a paying agent, it
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FDIC held a CLOSED meeting at 3:12 pm yesterday to consider resolution activities.

New bank failure incoming? FDIC held a CLOSED meeting at 3:12 pm yesterday to consider matters related to the Corporationโ€™s supervision, corporate, and resolution activities.

Back in July a similar meeting was held before it was announced Heartland Tri-State Bank of Elkhart, Kansas, was closed. Things that make you go hmmm... TLDRS: * FDIC held a CLOSED meeting yesterday about resolution matters that the public interest did not require consideration of the matters in a meeting
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