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๐Ÿ“ˆ Macroeconomics

Stress tests will be released on Wednesday, June 26, at 4:30 p.m. EDT

Federal Reserve Board announces that results from its annual bank stress tests will be released on Wednesday, June 26, at 4:30 p.m. EDT. This year, 32 banks with $100 billion or more in total assets are subject to the stress tests.

Highlights: The Federal Reserve Board announced on Thursday that results from its annual bank stress tests will be released on Wednesday, June 26, at 4:30 p.m. EDT. Additionally, aggregate results from the Board's first exploratory analysis, which will not affect bank capital requirements, will be released
dismal-jellyfish ๐Ÿ“ˆ Macroeconomics
FDIC Quarterly Banking Profile

FDIC Quarterly Banking Profile: Unrealized losses on securities totaled $516.5 billion in the first quarter, an increase of $38.9 billion (8.2 percent) from fourth quarter 2023.

The Quarterly Banking Profile is a quarterly publication that provides the earliest comprehensive summary of financial results for all FDIC-insured institutions. Reports from 4,568 commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) report aggregate net income of $64.2 billion in first quarter 2024,
dismal-jellyfish ๐Ÿ“ˆ Macroeconomics
Fed supervisors summarize assessments of large financial institutions using LFI rating system--in 2023, only 1/3 of large financial institutions had satisfactory ratings.

Fed supervisors summarize assessments of large financial institutions using LFI rating system--in 2023, only 1/3 of large financial institutions had satisfactory ratings.

The Federal Reserve Board publishes its semiannual Supervision and Regulation Report to inform the public of current banking conditions as well as provide transparency about its supervisory and regulatory policies and actions. This report focuses on developments in three areas: 1. Banking System Conditions provides an overview of the financial
dismal-jellyfish ๐Ÿ“ˆ Macroeconomics
Financial Stability Report: Leverage at hedge funds reached its highest level since data became available.

Financial Stability Report: Leverage at hedge funds reached its highest level since data became available.

The Financial Stability Report summarizes the Federal Reserve Board's framework for assessing the resilience of the U.S. financial system and presenting the Board's current assessment. By publishing this report, the Board intends to promote public understanding and increase transparency and accountability for the Federal Reserveโ€™
dismal-jellyfish ๐Ÿ“ˆ Macroeconomics
Bank Term Funding Program (BTFP) aka the liquidity fairy usage continues to explode--usage up 9.7% in a week

Bank Term Funding Program (BTFP) aka the liquidity fairy usage continues to explode--usage up 9.7% in a week and 30.5% since 12/13/23. The program is confirmed to expire 3/11/24 but usage continues to rapidly pick up speed!

I have posted multiple times about BTFP but from December to January, its usage has EXPLODED. These numbers are reported to the public via two ways: Reports to Congress and weekly via the Fed's balance sheet at a 'Wednesday level'. Reports to Congress: Date Amount outstanding
dismal-jellyfish ๐Ÿ“ˆ Macroeconomics
Reserve Banks increased the deferred asset by $133.0 billion so far...

Odds & Ends: Fed's 2023 expenses exceeded estimated earnings by $114.3 billion, Waller on inflation, Bowman & industry question Basel reform--South Korea strengthens it, Beige book calls out cooling labor market, CFTC meeting & rules

I hope everyone is enjoying a great week! I find it hard to believe January is already more than half over but here we are. Items covered in this post: 1. Federal Reserve Board announces preliminary financial information for the Federal Reserve Banksโ€™ income and expenses in 2023 2. Fed
dismal-jellyfish ๐Ÿ“ˆ Macroeconomics
BIM AFOLAMI SURROUNDED BY VARIOUS HEADLINES ABOUT LOBBYING AND ONGOING INVESTIGATIONS.

โš ๏ธ โ—๏ธ UK Economic Secretary Bim Afolami's RRG & Pension Insurance Corp. are teaming up to petition for "significant power" over independent UK regulators - looks like they want control over the financial markets.

It looks like the UK Government and the Pensions could be in trouble, and the Economic Secretary to the UK Treasury: Bim Afolami is at risk of using his position as Economic Secretary to get more momentum behind the proposals as being put forward by a Regulatory Reform Group (that
kibblepigeon ๐Ÿ“ˆ Macroeconomics