Hints and tips:
...Neither the monster national players (JPMorgan Chase, Bank of America, Wells Fargo, Citigroup) nor the regionals (PNC, M&T, et al) have had much to say about the economy’s effect on credit quality....
...The riskiest, most beat-up members of the group (KeyCorp, Comerica, Zions, Western Alliance et al) rose the most....
...Professional investors will look at everything and weigh credit versus government bonds and agency mortgages versus high yield and emerging markets....
...This seems to be true for both consumers and corporations....
...Shares in other banks considered to have some degree of asset-liability mismatch (Western Alliance, Zions et al) only saw their shares wobble a little bit yesterday....
...Our best hope is that the homebuilder stocks are now pricing in Federal Reserve rate cuts in the near future, and that does not happen....
...On the liability side, it assumes $92.5bn in deposits, $28bn in expensive Federal Home Loan Bank debt, $50bn in five-year fixed rate Federal Deposit Insurance Corporation funding, and $2bn of bits and bobs...
...US mortgage rates hit their highest levels in almost 23 years last week while home loan applications fell to the lowest point since the mid-1990s....
...It’s not going to be debt holders, which are the Fed and the Federal Home Loan Bank of San Francisco. They are secured creditors who hold collateral against their loans....
...At the same time, though, it said it had borrowed as much as $109bn from the Federal Reserve over the past week, and had also added $10bn in new loans from the Federal Home Loan Banks (more on that shortly...
...If we are right that consumer spending, despite some recent softening on the margin, is still at or above trend, that is another thing for Powell et al to fret over....
...Every single subsidy that built the middle class, whether it's the homestead loans, the farm loans, the New Deal, mortgage, student loans, all of those - not accidentally but explicitly - exempted certain...
...Latest news Nato’s Stoltenberg accuses Putin of ‘dangerous and reckless nuclear rhetoric’ Steep mortgage rates fuel August decline in US existing home sales New York attorney-general files fraud suit...
...The Federal Reserve, it appears, is going to tighten with total predictability and imperceptible gentleness; inflation will be transient; Evergrande et al will not sink the Chinese economy; lions will lie...
...First, there are a lot of banks in America (4,987 are insured by the Federal Deposit Insurance Corporation)....
...Meanwhile, nearly 14 per cent of black households had no bank accounts at all, compared with 2.5 per cent of white households, according to the Federal Deposit Insurance Corporation....
...According to the US Federal Reserve residential mortgage debt, at $9.7tn, is only slightly higher than it was a decade ago, but Americans’ equity in their homes, at almost $20tn, has grown steadily....
...(FT) Getting liquidity into markets As part of the FT’s Coronavirus: the economic cure series, Sheila Bair, a former chair of the US Federal Deposit Insurance Corporation, says banks should suspend discretionary...
...Andrew Garthwaite et al at Credit Suisse has had a fiddle about with the model portfolio, resulting in insurers getting a push....
...Many of the companies have arrangements with peers in which one company guarantees a loan for another to convince banks to lend more....
...In addition to hiring others to care for their children and working ever-longer hours, blue-collar America’s third “coping mechanism” was to use their homes as piggy banks, by taking out home equity loans...
...(Al Jazeera) How well have you kept up with the news this week? Take our quiz. Donald Trump threatened a full embargo against which country over the escalating turmoil in Venezuela this week?...
...home....
...of the Federal Reserve building made out of chocolate; on the Acela train between his two home cities, where he tipped the porters generously, proclaiming a belief in redistribution....
...There were billions of dollars of losses for the Federal Deposit Insurance Corporation when Colonial went bust in 2009....
International Edition