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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....
...Steven Kelly is associate director of research at the Yale Program on Financial Stability and publishes research notes at his Substack, Without Warning....
...The FCA first said it was investigating interest-linked deals offered by motor finance companies in January....
...“We already do this successfully with our insurance products,” the supermarket chain said in a statement on Thursday....
...But crises happen in 8Ks — the normally innocuous ad hoc filings that also accompany company emergencies — not 10Ks....
...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....
...Charles Peabody of Portales Partners disagrees with Kelly....
...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....
...As Sonali Basak pointed out on Bloomberg last week, if the assets are held within insurance-company subsidiaries, insurance regulators will have visibility, and there will be some required disclosures....
...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...
...,” which is Florida’s state-run insurance company....
...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....
...Big share price moves in Europe today include UK retailer Marks and Spencer, Danish jewellery brand Pandora and British insurance company Legal & General: M&S: The British food and fashion retailer’s shares...
...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....
...Jemima Kelly is an FT columnist Follow @FTMag to find out about our latest stories first...
...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...
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