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...Munich Re’s main insurance business Ergo provided about €700mn in loans, while Germany’s fourth largest insurance group R+V lent €500mn, more than half of which is not collateralised, according to the documents...
...While most of these depositors were covered by an insurance scheme, €500mn held by municipalities was not covered....
...Protecting Deposit Insurance Fund resources is important to depositor confidence. Minimising losses reduces the risk that healthy banks will have to pay more to replenish the DIF....
...deposit insurance fund had to cover, from the bank failures last year....
...They relied heavily on big depositors, those with accounts too large to be protected by the Federal Deposit Insurance Corporation....
...into bank parent companies....
...“Depositors are going to continue to want to get paid, but what banks can make on loans and investments is slowing down.”...
...When SVB’s parent company, the SVB Financial Group, collapsed Bank of England regulators warned UK depositors of wait times of at least seven days to receive their government-guaranteed deposits, capped...
...two years, big banks such as JPMorgan Chase, Bank of America, Citigroup and Wells Fargo charged more for loans in lockstep with the Fed lifting interest rates, without passing on the increase in full to depositors...
...The upshot of such arbitrage, then and now, is that the immobile depositor pays the tax....
...Take a break from the news V-necks have been verboten for as long as most of us can remember, writes Teo van den Broeke....
...Smaller banks have come under pressure from depositors, either from savers concerned that funds above the $250,000 limit covered by government-backed insurance or from depositors looking for better rates...
...When banks fail, there’s something called the Federal Deposit Insurance Corporation, and it has a fund which rescues banks and insures the deposits of average Americans....
...Deposit insurance had killed the retail run — but was no match for the growth of institutional cash pools ahead of the Global Financial Crisis (GFC)....
...The FDIC, a banking regulator that insures depositors, is also responsible for resolving failed banks....
...As we’ve covered previously, the US’s auto insurance rates have soared 24 per cent over the past two years (v BLS data)....
...Earnings at JPMorgan Chase, Bank of America, Wells Fargo and Citigroup were up 23 per cent according to BankRegData, which collates quarterly reports from lenders to the Federal Deposit Insurance Corporation...
...The last significant US bank to fail was First Republic, which was closed by the Federal Deposit Insurance Corporation in early May....
...a depositor run on a regional bank much lower than it was even a year ago....
...For all US banks the average spread is 3.28 per cent according to the Federal Deposit Insurance Corporation....
...Blackstone will combine its insurance and credit businesses into an integrated unit called Blackstone Credit & Insurance, which chief executive Steve Schwarzman says could grow to manage $1tn in the next...
...Even credit card companies are jumping in, with American Express offering $250 to new current account customers....
...And according to this Bloomberg story (with an accidental leak from the FDIC), one of the bank’s biggest depositor was . . . IntraFi, the company that manages deposits....
...As a necessary evil, deposit insurance caps therefore embody judgments about depositors....
...The Federal Deposit Insurance Corporation has therefore proposed new rules....
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