Hints and tips:
...Porticoes Capital will seek to take over banks closed by the Federal Deposit Insurance Corporation, the US regulator, according to an official filing....
...I saw this happen first-hand as FDIC chair during the 2008 crisis and, again, as chair of the Fannie Mae board during the pandemic....
...Nellie Mae Rowe’s “Pocketbook” (1982), in paint and pencil, was her final drawing after a cancer diagnosis, its indigo purse aglow with memories....
...Barr appeared alongside Martin Gruenberg, chair of the Federal Deposit Insurance Corporation, and Nellie Liang, under-secretary for domestic finance at the Treasury....
...They come with a “super-lien”: If the borrowers fail, the FHLBs get paid first, before everyone — including the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC)....
...Job moves The Federal Deposit Insurance Corporation has appointed former Fannie Mae boss Tim Mayopoulos to run Silicon Valley Bank’s bridge lender following the bank’s collapse....
...The Federal Deposit Insurance Corporation, which guarantees consumer deposits at American banks, paid $18mn to make every depositor whole. It was an unremarkable intervention....
...Markets in turn rewarded these corporations with “liquidity premia” or, in other words, inflated valuations in recognition of their fortified condition....
...ICE, another stock market group, bought Ellie Mae and Interactive Data Corporation together at a price of more than $15bn....
...Sheila Bair, who chaired the Federal Deposit Insurance Corporation during the 2008 financial crisis, will chair the board of the US government-sponsored mortgage lender Fannie Mae....
...An announcement like the one on Monday “tells banks to work with their customers”, said Nellie Liang of the Brookings Institution....
...The dealmaking continued with the New York Stock Exchange owner Intercontinental Exchange’s $11bn purchase of US mortgage data provider Ellie Mae in August....
...The number of US bank branches has shrunk by more than 4,500, or about 6 per cent, since 2010, according to data compiled by the Federal Deposit Insurance Corporation....
...Like other government sponsored entities (such as Fannie Mae and Freddie Mac for mortgages or Sallie Mae for student debt), the PBGC allegedly blended the best aspects of capitalism with the guaranteed aspects...
...Citadel Servicing Corporation of Irvine, California, has also put originations on pause. Some warehouse lenders are pulling up the drawbridge....
...Some give it as 1960, the year the South African Broadcasting Corporation launched Radio Bantu, a set of stations designed to segregate listeners by ethnicity....
...“This, arguably, would nudge corporations with more force than the rule that is currently in place,” he said....
...In the meantime, corporations and investors continue to raise cash....
...The NFHA, a non-profit organisation, is involved in similar lawsuits against Deutsche Bank and Fannie Mae after reaching a “favourable settlement” with Wells Fargo in a comparable case in 2013, NFHA attorney...
...“This is a key source of funding for corporations and it is an important liquidity outlet for money market mutual funds,” he said....
...Fannie Mae, another large government-sponsored enterprise in the mortgage market, on Wednesday said it would put in a request for $3.7bn of public funding for the same reason....
...On Monday the Federal Deposit Insurance Corporation revealed that San Francisco-based SoFi had filed an application last week for an industrial bank charter from the state of Utah....
...Separately, Mr Mnuchin told Fox Business that it made“no sense” for the government to continue owning the mortgage insurers Fannie Mae and Freddie Mac, which Washington bailed out in the 2008 financial crisis...
...Figures from the Federal Deposit Insurance Corporation show that gross loans across the US’s commercial banks have grown pretty steadily for at least three years, spread across all categories except home-equity...
...RCO priced a $43m floating rate bond backed by loans originated by Citadel Servicing Corporation, in which investors are protected from the first 23 per cent of losses....
International Edition