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Mar 26, 2024
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did we bear the cost of svb? absolutely. all our deposit costs rose.ough that and now we are waiting for the next cycle to hit. pete: we have a fed meeting starting today with a decision on interest rates tomorrow. let me get your sense, if you had the chance to talk to jay powell and his kenneth, i will n with you. what advice would you give jay powell? kenneth: i don't have a direct line to jay powell and i don't want to fix that. [laughter] but i do have a couple folks we get a chance to speak with and provide input. the fed come out of chicago, listens to us. i also had a chance to be on a panelt of the minneapolis fed and my advice was the same, we need stability at this point in time. we have not seen that of the cost running through the system, meaning, understanding, what does that mean to a small business when i have to pay a higher interest rate cost? my advice would be calm and steady i think will win the race here. i think the point has been made that rates will not move. but, now is the time to allow individuals to figure out how do we bui
did we bear the cost of svb? absolutely. all our deposit costs rose.ough that and now we are waiting for the next cycle to hit. pete: we have a fed meeting starting today with a decision on interest rates tomorrow. let me get your sense, if you had the chance to talk to jay powell and his kenneth, i will n with you. what advice would you give jay powell? kenneth: i don't have a direct line to jay powell and i don't want to fix that. [laughter] but i do have a couple folks we get a chance to...
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Mar 8, 2024
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svb tock equity stakes in the companies and partnered with vcs.sts one year later is that the next generation of entrepreneurs are not getting funded in the new landscape. that will have greater implications down the road the so-called innovation economy. >> all right, deirdre bosa with the tech check on svb. we will see you later on. before we go today, we want to check on the shares of nov nor. the fda has approved wegovey for cardiovascular risk reduction and people with over weight or obesity and established cardiovascular disease. nov norshares pairing the losses, down on the day but keep an eye on nov nordisk. have a great day and we will see you on monday. the first law of thermodynamics states that energy cannot be created or destroyed. (♪♪) but it can be passed on to the next generation. (♪♪) it's odd how in an instant things can transform. slipping out of balance into freefall. i'm glad i found stability amidst it all. gold. standing the test of time. the future is not just going to happen. you have to make it. and if you want a successf
svb tock equity stakes in the companies and partnered with vcs.sts one year later is that the next generation of entrepreneurs are not getting funded in the new landscape. that will have greater implications down the road the so-called innovation economy. >> all right, deirdre bosa with the tech check on svb. we will see you later on. before we go today, we want to check on the shares of nov nor. the fda has approved wegovey for cardiovascular risk reduction and people with over weight or...
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Mar 7, 2024
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to go back to one of the significant crises is the collapse of svb and first republic in you and i have spoken, one of the concerns i have is increasing capital requirements on banks. there is an argument that svb would have bought more long-term treasuries would expose her balance sheet to bond risk which would have hastened the collapse of svb and i want to start here, when you talk about the fossil basel regulation, what was the proposals for which banks would fall under those proposal in which would escape them? chair powell: this time around? there are four categories of banks through to the fourth category. the proposal out there now is extend to category four. >> what's the minimum passed under those regulations? chair powell: 100 billion. >> when do you apply them and maybe you could walk me through that decision process at the fed, where you are and what would justify drawing down from 700 billion to 100 billion. chair powell: there is g6 and big regionals and those tend to be the well bay regional banks and they are category three and they have different tailored levels of reg
to go back to one of the significant crises is the collapse of svb and first republic in you and i have spoken, one of the concerns i have is increasing capital requirements on banks. there is an argument that svb would have bought more long-term treasuries would expose her balance sheet to bond risk which would have hastened the collapse of svb and i want to start here, when you talk about the fossil basel regulation, what was the proposals for which banks would fall under those proposal in...
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Mar 13, 2024
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>> i'm talking about svb. didn't svb go to j.p. morgan? sorry. sorry. first republic. you are right. my understanding is the public reporting is there was a $20 billion difference between the best bid, j.p. morgan the second best bid. some of the follow-up reporting and some of the private conversations i've had suggest that the difference was about $1 billion. two part question. number one, what was the difference? >> in terms of the bids, i didn't see those bids. this is a question for marty greenberg, the head of the fdic. under the law, the fdic is required to accept the highest bid that reduces fdic losses as much as possible. on the details of what the bids were you will have to consult with him. >> so mac i guess the worry is, i'm very worried about the three-tiered banking system. you want -- i also want a healthy banking sector below the g sims. my concern is we actually didn't care enough about concentration and how that transaction manifested itself. i guess the simple fiquestion i is that because you didn't have the tools to analyze that transaction with co
>> i'm talking about svb. didn't svb go to j.p. morgan? sorry. sorry. first republic. you are right. my understanding is the public reporting is there was a $20 billion difference between the best bid, j.p. morgan the second best bid. some of the follow-up reporting and some of the private conversations i've had suggest that the difference was about $1 billion. two part question. number one, what was the difference? >> in terms of the bids, i didn't see those bids. this is a...
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Mar 1, 2024
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tom: ok, founder and president at svb energy international.e will talk about the energy transition as well, because that is firmly in your wheelhouse. we hope to get more details on the decision by the snb head to step down at the end of this year and we see the currency move on the back of that story. plenty more coming up. thib. ♪ tom: welcome back to "bloomberg daybreak: europe." in 2023 global sustainable debt issuance decline for the second year in a row. to explain what i am joined by my senior associate on any of -- nef sustainable finance. it is been challenging for sustainable debt issuance. what is holding this market back? >> we have seen the second year of a drop in issuance following the drop in 2021 which was due to a postponement of debt issuance. across all asset classes sustainable debt has been dropping. reebonz -- green bonds have had a record year driven by financials and government, but it is a mix between anti-green watching, anti-esg backlash, a lot of different forces were at stake in that regard. tom: i guess the quest
tom: ok, founder and president at svb energy international.e will talk about the energy transition as well, because that is firmly in your wheelhouse. we hope to get more details on the decision by the snb head to step down at the end of this year and we see the currency move on the back of that story. plenty more coming up. thib. ♪ tom: welcome back to "bloomberg daybreak: europe." in 2023 global sustainable debt issuance decline for the second year in a row. to explain what i am...
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Mar 7, 2024
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one year to the day that svb experienced that historic run leading to its demise.t failure and the one of signature bank came at a cost to the banking system. it is still going on. that figure was revised upward by a whopping 25%. last fall, the fdic levied a $16 billion fee spread among the biggest banks that covered the depletion of the deposit insurance fund after it was used to protect uninsured depositors of svb and signature. that fee was bumped up to $20 billion. the numbers are raising questions if uninsured depositors should have been required to take hair cuts on the deposits and if deposit insurance reform should be back on the table. this, of course, comes amid the price $1 billion infusion from the group of private investors into new york community bancorp yesterday. the deal of the terms which were finalized as shares were in free fall seemed to have stabilized the stock for now. shares up 3.2%. prior to the deal announcement, nycb stock was pricing in a high likelihood of failure. the company is hosting a conference call in two and a half hours to di
one year to the day that svb experienced that historic run leading to its demise.t failure and the one of signature bank came at a cost to the banking system. it is still going on. that figure was revised upward by a whopping 25%. last fall, the fdic levied a $16 billion fee spread among the biggest banks that covered the depletion of the deposit insurance fund after it was used to protect uninsured depositors of svb and signature. that fee was bumped up to $20 billion. the numbers are raising...
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Mar 6, 2024
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we're at a one-year anniversary of svb. the liquidity, and deposit levels look strong. systemic, we don't buy into that. >> chris, got to let you go. thank you so much. >> great, thank you. >> where do you stand on this? >> when you look back at the issues we had last year, and when things were calleda bailout, usually when you give a bailout, you buy the stock and the stock rallies. we didn't see that last year. we saw floods of money coming into money center banks to jpmorgan, because they were the one solving the problem. now you have another bailout, so for me, there's plenty of others that are going to be out there. the market is an efficient place. if you're looking to buy the equity, where do you think it's going to go? last spring taught us that the equity didn't go anywhere. looked back on some of these names that were troubled back then. equity didn't go anywhere. look back on the other names, never got as high as they were when they were sold off. all this tells me is buy jpmorgan. >> i think that i kind of agree on the large over small argument. i mean, i th
we're at a one-year anniversary of svb. the liquidity, and deposit levels look strong. systemic, we don't buy into that. >> chris, got to let you go. thank you so much. >> great, thank you. >> where do you stand on this? >> when you look back at the issues we had last year, and when things were calleda bailout, usually when you give a bailout, you buy the stock and the stock rallies. we didn't see that last year. we saw floods of money coming into money center banks to...
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Mar 13, 2024
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we talked about svb positively, we were giving our best opinion with the information we had, information by the regulars. shortly after him and the macroeconomic situation changed, i wish i circled back to this one and told you to forget about it at that point but man, none of the analyst got this right either, they were not that forthcoming about the level of risk, we knew how reckless the firm was right before the bank went under, they ran their money in a way that made them and sanely vulnerable to losses, i also did not count on those who departed yelling fire in a crowded theater on twitter, will the bank run into existence? who thought they would do that, most importantly we were too cursory and chose to rely on public documents. we should have gone deeper than that because we came to learn that while the regulators were very strict and systematically important financial firms, they were a lot more lenient with banks adopting non- systematically important like svb, so many of us got silicon valley bank wrong because we were on regulators who were also wrong. they were asleep at the
we talked about svb positively, we were giving our best opinion with the information we had, information by the regulars. shortly after him and the macroeconomic situation changed, i wish i circled back to this one and told you to forget about it at that point but man, none of the analyst got this right either, they were not that forthcoming about the level of risk, we knew how reckless the firm was right before the bank went under, they ran their money in a way that made them and sanely...
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Mar 26, 2024
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s not the first day of oil, oh, we need to transfer money home, by the way, it’s better to transfer svbe, radsky beetle and wireworm and guarantee an excellent harvest of tobuk and posad sportmaster collected all sports in one application. sportmaster media is articles. videos and podcasts from experts about sports and outdoor activities. it's not easy to catch a firebird's feather, but here's how to get it. it's important for us to be. where is it cheaper to buy osaka? is it cheaper where there is competition? select osaga on the website sravniru or in the application. buy asaga cheaper, compare on your side. now let’s turn to the kremlin website, where the list of instructions has been updated following the meeting of the presidential council for science and education. so, vladimir putin instructed the union of rectors ran and rao to prepare. proposal for ranking universities in brix countries. and the president also instructed to work out a phased increase in spending on scientific research and development for civilian purposes by july 1. let me remind you that the link in these mess
s not the first day of oil, oh, we need to transfer money home, by the way, it’s better to transfer svbe, radsky beetle and wireworm and guarantee an excellent harvest of tobuk and posad sportmaster collected all sports in one application. sportmaster media is articles. videos and podcasts from experts about sports and outdoor activities. it's not easy to catch a firebird's feather, but here's how to get it. it's important for us to be. where is it cheaper to buy osaka? is it cheaper where...
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Mar 8, 2024
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frank, banks and fed officials have have been careful to note this basel was pre-svb turmoil.s shows you how difficult it is to tighten bank rules. >> this is a big fight. basel rules are not the only point of contention. >> actually not. this is an adversarial time. there are lots of things they he a are fighting about. banks and lobbyists are gearing up for a fight although we have not seen the specific rules yet. we expect to see them in a few months. i will say one analyst told me banks have so far refrained from suing regulators, but we think this time could be different. >> megan cassella, thank you. >>> coming up, the one word that every investor needs to know today and tech stocks our next guest says could provide opportunity outside of the magnificent seven. ifyou haven't already, if you missed "worldwide exchange," check us out on spotify or other podcast apps. more "worldwide exchange" coming up after this. caplyta is proven to deliver significant relief across bipolar depression. unlike some medicines that only treat bipolar i, caplyta treats both bipolar i and ii
frank, banks and fed officials have have been careful to note this basel was pre-svb turmoil.s shows you how difficult it is to tighten bank rules. >> this is a big fight. basel rules are not the only point of contention. >> actually not. this is an adversarial time. there are lots of things they he a are fighting about. banks and lobbyists are gearing up for a fight although we have not seen the specific rules yet. we expect to see them in a few months. i will say one analyst told...
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Mar 11, 2024
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herman: one year after svb, an important lesson is scale really matters.ally from bnc, banks like u.s. bank have gained scale in recent years. the industry is really watching what is going to happen with the capital one/discovery deal one of the largest deals we seen in the past two years. and if it does get regulatory approval it can open up the floodgates for more m&a. annmarie: what optimism do you have the deal goes through because the direction of travel in washington is to block these types of deals? herman: you have heard a lot of consternation from the democrats including senator warren in terms of the competition involving credit cards. in our view, our colleagues sees a better opportunity for approval and i would point to the fact that if we are talking about visa and mastercard, they could potentially create a third player in that space which would open up more competition which would be great for the economy. jonathan: hermann chair there for bloomberg intelligence. you think about where we were 12 months ago no landing turned in to hard the he
herman: one year after svb, an important lesson is scale really matters.ally from bnc, banks like u.s. bank have gained scale in recent years. the industry is really watching what is going to happen with the capital one/discovery deal one of the largest deals we seen in the past two years. and if it does get regulatory approval it can open up the floodgates for more m&a. annmarie: what optimism do you have the deal goes through because the direction of travel in washington is to block these...
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Mar 11, 2024
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if there were lessons learned, it was high concentrations at svb.u were an early stage startup, you had your banking there but you also have your debt there as well. it was also the first place you could get a check. is that concentration risk still there? vinod: the risk for silicon valley bank had nothing to do with silicon valley and startups. it had to do with interest rate speculation, which the bank did. i want to separate irresponsible actions on their part, on the interest rate side, from what the business was. i think the business was a solid business. it mostly has continued in the same way. i do not think it has changed dramatically. alternative banks came up, but there are other banks are still the printable things for startups in the valley. i do not know if there is as much concentration, but you do not worry about that too much. caroline: what has been interesting is, perhaps, there was a moment of realization in a time of a crisis -- who could you depend on? there was so much fierce competition to get in money to the right start up.
if there were lessons learned, it was high concentrations at svb.u were an early stage startup, you had your banking there but you also have your debt there as well. it was also the first place you could get a check. is that concentration risk still there? vinod: the risk for silicon valley bank had nothing to do with silicon valley and startups. it had to do with interest rate speculation, which the bank did. i want to separate irresponsible actions on their part, on the interest rate side,...
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, they down played it and this doesn't seem to be getting anywhere near the level of attention that svb got one year ago. liz: new york community banks troubles do not from your seat incur the fed or push the fed to cut rates sooner than they would have? >> not at all this. is one bank like i said their problems have been advertised for awhile and like you just showed, the kre index is not showing how big contagion is through the banking sector here and seeps like something you could say is in a league of its own and not contagion risk right now. liz: again, there's two points to this and actual balance sheet liquidity and many banks as you and yesterday sheila bayer, former head of the area and a logical piece of it and we had a columbia professor thomas melnick that came on at the business school and he talked about how there could be a deposit run in just case there's a point where people get anxious and what do you hear from what you said and you can weigh in. >> actually several hundred banks in the u.s., smaller and mid sized banks and community bank and sfb in other words they're
, they down played it and this doesn't seem to be getting anywhere near the level of attention that svb got one year ago. liz: new york community banks troubles do not from your seat incur the fed or push the fed to cut rates sooner than they would have? >> not at all this. is one bank like i said their problems have been advertised for awhile and like you just showed, the kre index is not showing how big contagion is through the banking sector here and seeps like something you could say...
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Mar 15, 2024
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the same week svb and the government fast tracked the rescue by ubs.bs agreed to buy credit suisse in an all-stock deal worth not a lot of money. at the time, it was a bargain basement price. 3 billion swiss francs. former ceo sergio ermotti returns. we spoke to him a lot at ubs. the swiss establishment and the hierarchy of swiss banking said this is complex. we need sergio back. that is what happened. the acquisition was completed on the 12th of june in 2023. credit suisse shares closed at 0.81 swiss francs on the final day of trading. let's revisit the key stakeholders and what they had to say when the rescue deal was announced. >> translator: the latest developments that emanatesed from the banks in the u.s. hit us in the unfavorable moment. we were able to overcome the deep market an uncertainty, but not the second time. the escalation made it clear the last few days that credit suisse cannot exist in the current form. we are happy to bring a solution for financial markets and switzerland. >> it is intended the combined investment banking business
the same week svb and the government fast tracked the rescue by ubs.bs agreed to buy credit suisse in an all-stock deal worth not a lot of money. at the time, it was a bargain basement price. 3 billion swiss francs. former ceo sergio ermotti returns. we spoke to him a lot at ubs. the swiss establishment and the hierarchy of swiss banking said this is complex. we need sergio back. that is what happened. the acquisition was completed on the 12th of june in 2023. credit suisse shares closed at...
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Mar 13, 2024
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i believe there were a number of bids by different banks for svb and for first republic. as i said i believe under the law that the fdic is required to accept the bid that results in the smallest losses to the deposit insurance fund. >> understood, thank you. >> thank you so very much chair brown. it has been 14 years, 14 years since the passage of the affordable care act, yet 10 states including georgia have not fully expanded medicaid. let me be clear, closing the healthcare gap is the right thing to do but it's also the smart thing to do. it's good for our economy. a recent report from the council of economic advisers concluded that medicaid expansion increases the disposable income of those gaining health coverage and for those who are listening and watching a want to be clear that when we say expansion we are not talking about a new program. or spending additional dollars. we are talking about the fact that citizens in states like georgia don't have access and they are subsidizing healthcare and other states while hospitals are closing. but the council of economic ad
i believe there were a number of bids by different banks for svb and for first republic. as i said i believe under the law that the fdic is required to accept the bid that results in the smallest losses to the deposit insurance fund. >> understood, thank you. >> thank you so very much chair brown. it has been 14 years, 14 years since the passage of the affordable care act, yet 10 states including georgia have not fully expanded medicaid. let me be clear, closing the healthcare gap...
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Mar 18, 2024
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butter is not the first thing, oh, we need to transfer money home, by the way, you better transfer it svbthank you for teaching me, this is someone else who taught whom, vtb, together everything will work out, deposit, the best interest in savings is an easy way to profitably invest money online, just one button, the investment in your child’s future has already been made . one button, savings grow from maximum rate, one button, and you look forward with confidence, together, open a deposit with the best interest with a maximum rate of up to 16% per annum in sberbank, in sberbank with prime it is more profitable, magnet - the price is what you need, oil is good 99.999.
butter is not the first thing, oh, we need to transfer money home, by the way, you better transfer it svbthank you for teaching me, this is someone else who taught whom, vtb, together everything will work out, deposit, the best interest in savings is an easy way to profitably invest money online, just one button, the investment in your child’s future has already been made . one button, savings grow from maximum rate, one button, and you look forward with confidence, together, open a deposit...
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Mar 25, 2024
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by the way, it’s better to translate svb online. it's faster and more convenient.hank you for teaching me. this is also who taught whom. vtb. everything will work out together. alpha investments mean money. we give promotions every day. open an investment account and for purchasing any share you will receive another one as a gift. not just profitable. alpha is profitable. magnet. the price is right. bawaiian chocolate from 69-9. do you want to become a modern individual entrepreneur and not pay a commission from a transfer to a cash account. then open a business account on btb. when buying a car, you can do without a car library, if you have scanning vision, you could at least buy it, and for those who don’t have superpowers, there is a car library and a complete history of the car according to 25 criteria, peace of mind buy with a car service on avito auto, catching the feather of a firebird is not easy, so get a fire rate... receive real income in a reliable bank, open a deposit on gazprombank.ru. it tastes better on fire, burger king. new in magnet. frozen veget
by the way, it’s better to translate svb online. it's faster and more convenient.hank you for teaching me. this is also who taught whom. vtb. everything will work out together. alpha investments mean money. we give promotions every day. open an investment account and for purchasing any share you will receive another one as a gift. not just profitable. alpha is profitable. magnet. the price is right. bawaiian chocolate from 69-9. do you want to become a modern individual entrepreneur and not...
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Mar 25, 2024
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it’s not the first day, oh, i need to transport the money home, by the way, it’s better to translate svbe, it’s faster and more convenient, thanks for teaching me, that’s someone else whom vtb taught, together everything will work out, on avito it’s easy to find your job place, dad, you'll be home soon. “soon , i won’t be late now, mom, guess who started a new job today, grandma, what a hat, 10 minutes to a new job, many vacancies new every day, avito job, you will find not just a job, but your place. catch the firebird's feather is not easy, but anyone can get a fire rate on a deposit at gazprom bank, the rate is up to 16.5." per annum on a deposit for 6 months, get real income in a reliable bank, open a deposit on gasprombank.ru. what is your dream car? the answer is very simple, it should have everything. style, first class dynamics and comfort. on any road and for my whole family. cherry tigo 8 pro max. dream bigger. cherry , we take out loans, it’s easy to apply for them, we take out loans at sovcombank, and they are approved quickly, we at sovcombank, loans that know everything, wh
it’s not the first day, oh, i need to transport the money home, by the way, it’s better to translate svbe, it’s faster and more convenient, thanks for teaching me, that’s someone else whom vtb taught, together everything will work out, on avito it’s easy to find your job place, dad, you'll be home soon. “soon , i won’t be late now, mom, guess who started a new job today, grandma, what a hat, 10 minutes to a new job, many vacancies new every day, avito job, you will find not just a...
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Mar 20, 2024
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i always go back to svb right? what was at the duration of their core deposit?lmost anything you look at with svb the core deposits was geeky as a positive effect the deposits did nothing but grow grow grow through the cycles of 40 years. you could've done any study what is said eight to ten years estimated duration under deposits except f what happens, you get stressed, you get this kind of flash event that happened with them come with social media instead of eight years it was less than 24 hours. .. >> i would tell you, peter, in times of stress leaders provide calm and stability what happened and bret just mentioned it a moment ago, we saw really $47 billion move within 24 hours. and so when there is lack of trust, you find that people will do things that they normally wouldn't withdraw all of their money. so i think it's important that we as leaders in this industry demonstrate that leadership of calmness when we're on the hill today. hopefully we'll hear that on the panel behind us from the former regulators we're talking about it because it only takes some
i always go back to svb right? what was at the duration of their core deposit?lmost anything you look at with svb the core deposits was geeky as a positive effect the deposits did nothing but grow grow grow through the cycles of 40 years. you could've done any study what is said eight to ten years estimated duration under deposits except f what happens, you get stressed, you get this kind of flash event that happened with them come with social media instead of eight years it was less than 24...
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Mar 26, 2024
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by the way, it’s better to translate svb online. it's faster and more convenient.s is who else taught whom. vtb, together everything will work out. dad, are you going home soon? soon, i won't be late now. there are a lot of vacancies around the job; you will find not just a job, but your place. and we are going for the third year, so open a vtb savings account, the rate is 16%, save up faster, today we are testing our birthday, you made a wish, of course wished for, good discount, so much you wished for, up to 50%, tutite vvideo and eldorado, nvideo and eldorado, chief expert in technology, catch the pie. for coverage and speed of alfabank for business, register a business with alfabank in march and receive 100,000 rubles. we pay as. smiled, it means you recognized it, smiled, it means it’s real, will they recognize you? know what you want from premium service, how to get it? you can open premium cards everywhere, constantly looking for this one or this one for travel, or maybe you need to always select something, pine, calculate and calculate, is this premium, but
by the way, it’s better to translate svb online. it's faster and more convenient.s is who else taught whom. vtb, together everything will work out. dad, are you going home soon? soon, i won't be late now. there are a lot of vacancies around the job; you will find not just a job, but your place. and we are going for the third year, so open a vtb savings account, the rate is 16%, save up faster, today we are testing our birthday, you made a wish, of course wished for, good discount, so much you...
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Mar 6, 2024
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hannifin, a wide swath of industries here >> economically important companies. 52 years ago was the svb meltdown, 52-week highs. it shows you the market has had a record high. you should see a lot of stocks hitting 52-week highs. that doesn't discount the fact that you're getting a lot every is on board with the positive story, and it feels like the bull market thesis is prevailing that being said, it usually goes on for a while silly sufficient gets really silly before it becomes, you know, kind of a real fatal thorn in the side of the market. and, i'll keep going back to the fact as much as it feels like we've run, the s&p is up like 6%, 7% from january of 2022. that's a long time ago >> if i can give a statistic the s&p is up 7% year-to-date. up 7% or 8%, within that range communication services, technologies, industrials, health care, five of the biggest sectors. consumer discretionary is down because tesla is down 28%. >> bank of america is talking about the next pain trade being upcycle, high baeta leadership what do you make of that >> i think that is a really great narrative the
hannifin, a wide swath of industries here >> economically important companies. 52 years ago was the svb meltdown, 52-week highs. it shows you the market has had a record high. you should see a lot of stocks hitting 52-week highs. that doesn't discount the fact that you're getting a lot every is on board with the positive story, and it feels like the bull market thesis is prevailing that being said, it usually goes on for a while silly sufficient gets really silly before it becomes, you...
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Mar 14, 2024
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multiple bids on the table for requiring svb and its assets. at the time, the public suggested the difference between the j.p. morgan bid and the next best bid was $20 million. >> i believe, you're talking about first republic that went to j.p. morgan? >> didn't sv b go to j.p. morgan? know, first republic. you are right. my understanding is there was a $20 billion difference between the best bid and the second best bid for first republic. some of the private conversations i've had and staff has had a suggestive difference of $1 billion. so, two part question, number one, what was the difference? >> in terms of the bids, this is a question for marty bloomberg who is head of the fbi state. under the law, the fdic is required to accept the highest bid that reduces losses as much as possible. you will have to consult with him. >> i guess the worry is, i'm very worried about the future bank system in our country. small, medium and large banks. i also want to help the sector below the -- and my concern here is we did not care enough about concentrat
multiple bids on the table for requiring svb and its assets. at the time, the public suggested the difference between the j.p. morgan bid and the next best bid was $20 million. >> i believe, you're talking about first republic that went to j.p. morgan? >> didn't sv b go to j.p. morgan? know, first republic. you are right. my understanding is there was a $20 billion difference between the best bid and the second best bid for first republic. some of the private conversations i've had...
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Mar 8, 2024
03/24
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on the anniversary of svb's demise, we look at what has happened since then.the kre, a regional etf under performing the kbe by nearly 14 percentage p pooints in the las year. they were able to get deposits. the deposits overall grew in the fourth quarter for the first time in seven quarters and lower rates toward the end of the year helped pare back losses in under water securities in the balance sheets. that figure stood at $274 billion, down $100 billion from peak paper losses in the quarter of 2022. the two issues that plagued last year's failures, interest rate risk amid deposit flight doesn't seem to be as much of a problem, however, quality appears to be worsening. the amount banks are setting aside have been picking up steam amounting to double the average between the financial crisis and the pandemic. $25 billion. that is a key reason why net income declined across the system last year and it has also been a concern within the books of new york community bancorp. i don't know if the story is over yet, but the history certain isn't rhyming. it may be r
on the anniversary of svb's demise, we look at what has happened since then.the kre, a regional etf under performing the kbe by nearly 14 percentage p pooints in the las year. they were able to get deposits. the deposits overall grew in the fourth quarter for the first time in seven quarters and lower rates toward the end of the year helped pare back losses in under water securities in the balance sheets. that figure stood at $274 billion, down $100 billion from peak paper losses in the quarter...
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Mar 7, 2024
03/24
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svb grew too big and too fast and fed didn't react decisively enough. the fed undertook an assessment of its supervisory process to identify and address gaps related to the speed, the force, the agility, if that's the right word, supervision. explain what concrete steps the federal reserve has taken to strengthen supervision in any specific areas to make improvements is ongoing? >> so this is a very broad area. there are, you know, many, many people in this system who are involved in the supervision of thousands of them, and there's a rule book. there's been careful study and thought and a lot of listening to understand how we can meet those goals of being, you know, quicker and more effective basically, is how i would say it. if you look at silicon valley bank we weren't quick enough and effective enough, and so we're working hard to develop a new rule book and new other set of practices which is still evidence based and fair but going to involve earlier interventions and more effective ones. i think this is work that's ongoing and will be for some tim
svb grew too big and too fast and fed didn't react decisively enough. the fed undertook an assessment of its supervisory process to identify and address gaps related to the speed, the force, the agility, if that's the right word, supervision. explain what concrete steps the federal reserve has taken to strengthen supervision in any specific areas to make improvements is ongoing? >> so this is a very broad area. there are, you know, many, many people in this system who are involved in the...
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Mar 18, 2024
03/24
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by the way, it’s better to translate svb online. it's faster and more convenient.ction. say cystitis cyston. 14 natural components against cystitis. cystito, i say. cyston. home is where the family is. and at domrf bank there is 16.2% per annum on a deposit for 3 months. the most important contribution to family. chicken burger for 39 rubles. and other offers at a very competitive price. only at a tasty point. do you want to become modern? and don’t pay a commission from a transfer to a cash account, then open a business account on wtb.ru, this is the same vacuum cleaner, the top vacuum cleaner, the top headphones, the top hair dryer, and even on our birthday, discounts up to 50 %. thompson coffee machine for only 19.999 in mvidio and eldorado. good putters today. not enough, so i decided to make my own, the quality is no worse than imported ones, and in order to keep up with demand, i act on ahead, take out a loan for business development, manage the cost of the loan, reduce the commission by 11%. beyond the border, mother-in-law at night. i was awakened by a call
by the way, it’s better to translate svb online. it's faster and more convenient.ction. say cystitis cyston. 14 natural components against cystitis. cystito, i say. cyston. home is where the family is. and at domrf bank there is 16.2% per annum on a deposit for 3 months. the most important contribution to family. chicken burger for 39 rubles. and other offers at a very competitive price. only at a tasty point. do you want to become modern? and don’t pay a commission from a transfer to a...
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Mar 7, 2024
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broader reforms around the banks, but really picked up steam last year in the wake of the collapse of svb, other concerns about banking stability. obviously there is been a huge push back on wall street, especially the big 80 banks we do not need to hold that much. we are worried that will slow down corporate lending. i think what powell is saying today because there is been the push and pull over whether the fed will go forward with its big plan, you just heard from that soundbite derek he was saying there could be pretty broad changes to the fed's plan. he is following that up so they can read something they can all agree on, but i think it does indicate there is a lot of room -- if the fed is listening to heavy pushback from these to banks on what exactly the roles of light, so i think we'll have to look at what that ultimately plays out, but these federal shape up to, but some pricing -- some pretty surprising comments from pal there. tom: potentially paying dividends when it comes to the change of tune from the fed chair. what did he have to say about monetary policy? how in consensu
broader reforms around the banks, but really picked up steam last year in the wake of the collapse of svb, other concerns about banking stability. obviously there is been a huge push back on wall street, especially the big 80 banks we do not need to hold that much. we are worried that will slow down corporate lending. i think what powell is saying today because there is been the push and pull over whether the fed will go forward with its big plan, you just heard from that soundbite derek he was...
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Mar 4, 2024
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. >> anton, they don't have the same issues as svb. nycb has outsized exposure.ll show a chart to new york apartments exposure. is that a big deal or little deal? a 2019 law created some of this, but rent control doesn't change. we are showing the audience and i don't know if you can see it. is there a big deal or little deal? >> it is a big deal. they are, clearly from your chart and knowledge, this is the largest player in the industry. also, they bank the best borrowers in history. they are not bottom feeders. they lend to the billionaire families that own these things. they have staying power. >> you addressed contagion. nycb is the last one to report. the others did not have similar issues. i want to ask about nycb. downgraded by fitch and moody's. there was a delay in filing the 10k. the colleagues had mixed opinions about this delayed 10k. is this delay a big deal or little deal or good they are delaying because they have a plan to fix the problems? >> i think they putting a plan in place. t there are many things they can do. fixing internal controls is im
. >> anton, they don't have the same issues as svb. nycb has outsized exposure.ll show a chart to new york apartments exposure. is that a big deal or little deal? a 2019 law created some of this, but rent control doesn't change. we are showing the audience and i don't know if you can see it. is there a big deal or little deal? >> it is a big deal. they are, clearly from your chart and knowledge, this is the largest player in the industry. also, they bank the best borrowers in...
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Mar 1, 2024
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it's down double digits following svb. what's your take on the regional bank space itself? >> i think this should be in the too hard camp. number one, regional banks also are a really big part of small cap value, and soap i think small caps in particular because the regional banks are in the too hard camp. we know there's a trillion of commercial real estate mortgages that will need to extend, pretend, twhawhat have you in 2. commercial real estate is going to be slow to work out, and i think that these regional banks will be in the penalty box not just for this year but the next few years until there's more clarity of who owns what. also -- also -- if rates actually stay higher for longer, that adds another tension point on what's on these banks' balance sheets in terms of their long duration treasury exposure. >> we'll have to leave it there. bank shares down more than 20% right now. it's time for the headlines with bertha coombs. >>> frank, the nation's largest pharmacy chains walgreens and cvs will start to sell the abortion pill mifepristone. about two years after the
it's down double digits following svb. what's your take on the regional bank space itself? >> i think this should be in the too hard camp. number one, regional banks also are a really big part of small cap value, and soap i think small caps in particular because the regional banks are in the too hard camp. we know there's a trillion of commercial real estate mortgages that will need to extend, pretend, twhawhat have you in 2. commercial real estate is going to be slow to work out, and i...
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Mar 29, 2024
03/24
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not the first day of oil, oh, we need to transfer money home, by the way , it’s better to translate svbient, thank you for teaching me, who else taught who? tb together everything will work out, choose your favorite brands on wildberries, spring aggravation, meet the new season in fashionable clothes and shoes both, bright colors, modern. at least buy it, and for those who don’t have superpowers, there is an auto library and a complete history of the car according to 25 criteria, calmer, buy with an auto library on avito auto, anxiety can be treated, new, afabazold, gradual release of the active substance, only one tablet per day, afabazole anxiety can and should be treated, what is a good car for you, mileage, condition, comfort? everyone has their own good car, find it on the author, it’s not easy to catch a pyro firebird, here’s how to get a fire rate for anyone can make a deposit in gazprombank, the hot rate is up to 16.5% per annum on a deposit for 6 months, get real income in a reliable bank, open a deposit on gazprombank.ru, we know that it’s hard to surprise you, however olaled,
not the first day of oil, oh, we need to transfer money home, by the way , it’s better to translate svbient, thank you for teaching me, who else taught who? tb together everything will work out, choose your favorite brands on wildberries, spring aggravation, meet the new season in fashionable clothes and shoes both, bright colors, modern. at least buy it, and for those who don’t have superpowers, there is an auto library and a complete history of the car according to 25 criteria, calmer,...
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Mar 12, 2024
03/24
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we had the collapse of svb one year ago and now we're questioning the state of regional banks after what> maria, good morning. it's two things. one is while three banks unfortunately spectacularly failed last spring, 4700 did not. the industry is resilient. that won't stop the challenges of commercial real estate. i heard you speak about new york community. commercial real estate losses are going up and it's going to go up for banks, it's going to go up for nonbanks involved in the industry. and like you said, the question is how resilient is the industry to handle it? so if you looked at new york community, you would see that it was probably one of the most concentrated banks in commercial real estate. so while it was unfortunate for the shareholders in new york community t i think it was rather bullish that some sophisticated capital was really to recap the company which i think says something about the industry's resilience so that's how i would wrap it all together. maria: where are the specific risks and threats? because i spoke with steve schwarzman, the chairman of the blackstone
we had the collapse of svb one year ago and now we're questioning the state of regional banks after what> maria, good morning. it's two things. one is while three banks unfortunately spectacularly failed last spring, 4700 did not. the industry is resilient. that won't stop the challenges of commercial real estate. i heard you speak about new york community. commercial real estate losses are going up and it's going to go up for banks, it's going to go up for nonbanks involved in the industry....
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Mar 14, 2024
03/24
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this is when we were up against svb. this is when we were up against the drop of the snap benefits.should work in march. if they don't we'll all have to really reconsider what is going on broadly with the consumer. charles: beyond march, we have only got like 40 seconds, i want to button up the conversation in your mind where are we heading, no landing hard landing soft landing? >> it depends which consumer you're talking about. i think unfortunately we'll have a hard landing lower end consumer especially if they lose their job. we're watching jobs more than we're watching wages right now because cfos, budget by overall dollars, not by, in headcount more than they do by wages. we're hoping that jobs hold in, but if they don't, this is going to be a tough year. charles: yeah. neely, thank you very much. always appreciate your insight. we'll chase sneaker tips later on online. >> thanks, charles. charles: well we got a guest coming up who is really, really concerned about the economy but she has been for sometime. danielle dimartino booth always brings some unique information to this
this is when we were up against svb. this is when we were up against the drop of the snap benefits.should work in march. if they don't we'll all have to really reconsider what is going on broadly with the consumer. charles: beyond march, we have only got like 40 seconds, i want to button up the conversation in your mind where are we heading, no landing hard landing soft landing? >> it depends which consumer you're talking about. i think unfortunately we'll have a hard landing lower end...
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Mar 21, 2024
03/24
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a year ago in ma when svb headline came out, all of sudden opened up the bank lending program. in response to anything that is relatively negative. he is not paul volcker. paul volcker was willing to with stand it. people are saying how well jay powell is threing the needle. by a six month time period he missed the whole transitory thing when inflation was obviously not transitory. he got us to where we are right now. not ready to pat him on the back. he has a tough job particularly with the way federal government spending way it is counteracting his fighting inflation. i'm not ready to give him any sort of ribbon, are you? charles: i'm not, i'm not. the stage is set. we'll see what happens. i'm having a hard time believing any of it to be honest with you, jim. >> amen. charles: thanks so much, my man, talk to you soon. folks we have a guest coming up who will tell you where to put your money over the intermediate to longer term, right? you want to be careful of these crazy swings. alli mccartney has been on the show so many times. she is one of best in the business. grab a pen
a year ago in ma when svb headline came out, all of sudden opened up the bank lending program. in response to anything that is relatively negative. he is not paul volcker. paul volcker was willing to with stand it. people are saying how well jay powell is threing the needle. by a six month time period he missed the whole transitory thing when inflation was obviously not transitory. he got us to where we are right now. not ready to pat him on the back. he has a tough job particularly with the...
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Mar 5, 2024
03/24
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i think, again, the fed sees this thing sort of the way it saw svb, as a kind of one-off. what's going at new york community bank does not appear to be the -- what do you want to call it, the canary in the coal mine on the books of the banking system. that's not it. there may be one yet, but i don't think this is it. >> steve, thank you. steve liesman. >> pleasure. >> tim, what did you make of the move in the ten-year? >> great song by the police, "canary in the coal mine." the move in the ten-year was a function of the ism number. there was some deflationary dynamics in that number, and i think if you look at, again, three rate cuts by the end of the year -- i think, if anything, i think powell needs to talk about liquidity conditions out there. i think there's so much liquidity sloshing around, and that has something to do with even bitcoin's move today, so -- that's interesting for me, but i think that the macro data right now on the labor market is all that matters, and we haven't seen a whole lot of weakness. >>> coming up, watching nordstrom after hours. details from
i think, again, the fed sees this thing sort of the way it saw svb, as a kind of one-off. what's going at new york community bank does not appear to be the -- what do you want to call it, the canary in the coal mine on the books of the banking system. that's not it. there may be one yet, but i don't think this is it. >> steve, thank you. steve liesman. >> pleasure. >> tim, what did you make of the move in the ten-year? >> great song by the police, "canary in the...
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Mar 6, 2024
03/24
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morgan did his own deal in the aftermath of svb that was very beneficial to that firm. >> right. >> you can certainly understand why you would continue to seek capital flows from investors going toward the larger in the -- financial institutions, because at least you can put your head on the pillow, you think, and sleep well at night. >> i think that is right, scott. i think that diversity in those banks, and their banking, their loan books, is something investors can feel better about, rather than this possibility that -- sort of what josh and leslie were talking about -- there is some regional banks someplace that has an enormous amount of office or commercial space in a particular city that is not doing particularly well because of the aftermath of the pandemic. that would not happen in the big banks. one other thing worth noting, though, scott, part of that whole thing is this other story that was a big park, a bigger part of the monetary discussion, was the coming apart of the basel three proposal. it is a big loss, i want to say, for this administration. it is a big loss for ichae
morgan did his own deal in the aftermath of svb that was very beneficial to that firm. >> right. >> you can certainly understand why you would continue to seek capital flows from investors going toward the larger in the -- financial institutions, because at least you can put your head on the pillow, you think, and sleep well at night. >> i think that is right, scott. i think that diversity in those banks, and their banking, their loan books, is something investors can feel...
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Mar 7, 2024
03/24
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regional lender is following on the same state as what we saw last year silicon valley bank, the likes of svbilar situation unfold. again on the bank of news yesterday the bank was actually looking for that cash infusion, the stock price actually fell as much as 40%, managed to recover, however, when it was able to get that 1 billion cash infusion then into the stock price. in fact, in premarket it's also up around 2% or so as well. not a clear significance of how it's happened. >> yeah, keep an eye on that. and lastly and briefly egypt reached a deal with the international monetary fund on bailout loan to help shore up the economy. tell us more about that, please. >> so the egyptian economy has kind of needed a significant amount of push and because of what the environment we see ourselves in, high interest rates across the globe and hurt high inflation rates as well and the economy that needed the funding in order to grow its expansionary plans it maintains for a significant amount of time and also been a devaluation of the currency as well, record rate hikes as you've been seeing as well c
regional lender is following on the same state as what we saw last year silicon valley bank, the likes of svbilar situation unfold. again on the bank of news yesterday the bank was actually looking for that cash infusion, the stock price actually fell as much as 40%, managed to recover, however, when it was able to get that 1 billion cash infusion then into the stock price. in fact, in premarket it's also up around 2% or so as well. not a clear significance of how it's happened. >> yeah,...
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Mar 7, 2024
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policy is that banks probably have less of a target on their back than they did a year ago right around svb and that's part of this breakout. as we talked about the housing sector, i was just looking to see what some of the mortgage services companying and consumer credit companies would be bouncing in a big way but reflective of consumer credit concerns that haven't really hit the fan as they say. >> they'll talk about the billions and billions of dollars that enter the profits of the energy -- i'm notprivy to this but my sense is that will come out so there will be a bull's-eye on energy as there typically is. don't underestimate consumer products. he talked about this around the super bowl, how packages are getting smaller. >> shrinkflation. >> i don't like saying that -- >> packages? >> excuse me. >> how packages are -- >> like your cereal boxes. >> oh. >> i'm not sure what you're talking about but a 16-ounce box of cheerios is now 12 ounce but paying the same amount of money. what they're saying is we want to keep the price point the same. this is how you're doing it. want a 16-ounce b
policy is that banks probably have less of a target on their back than they did a year ago right around svb and that's part of this breakout. as we talked about the housing sector, i was just looking to see what some of the mortgage services companying and consumer credit companies would be bouncing in a big way but reflective of consumer credit concerns that haven't really hit the fan as they say. >> they'll talk about the billions and billions of dollars that enter the profits of the...
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Mar 7, 2024
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svb grew too big and too fast and supervision did not react. the fed and response undertook a supervisory process to address gaps related to the speed, force, and agility if that is the right word, explain what concrete steps the federal reserve has taken to strengthen supervision and any specific areas or work to make improvements is ongoing? chair powell: this is a broad area. there are many people in the resource system involved in supervision, thousands of them. and there is a rulebook. there has been careful study, thought and listening to understand how we can meet the goals of being quicker and more effective which is how i would say it. as you look at silicon valley bank we were not a quick and effective enough. we are working hard to develop a new rulebook and another set of practices, which is still going to be evidence-based and fair. it will involve early interventions and more effective ones. this is work that will all -- that is ongoing and will be for some time. sen. brown: thank you. the job of the fed and all officials is to se
svb grew too big and too fast and supervision did not react. the fed and response undertook a supervisory process to address gaps related to the speed, force, and agility if that is the right word, explain what concrete steps the federal reserve has taken to strengthen supervision and any specific areas or work to make improvements is ongoing? chair powell: this is a broad area. there are many people in the resource system involved in supervision, thousands of them. and there is a rulebook....
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Mar 22, 2024
03/24
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nobody was positioned for tech to run like it did even after the svb thing happened. nobody was positioned for that rally, and then it was almost painful to watch it happen because we were trying to figure out what was going on. a correction happens in the same way. so if everybody is on the side of this bull market will continue completely unencumbered, then a correction seems more likely. i think it's healthy. a modest pullback between 5% and 10% and be even more specific, 7% to 8%, would give people a little entry point, a buying opportunity,some of those names. if risk appetite stays as strong and healthy as it's been, i think you see people come in as soon as a correction reaches that level and take it back up. at this point there hasn't been data. there hasn't been news that would tell the market a correction needs to turn into something more dramatic. until that happens, i think it still chubs along in a sideways fashion. >> all systems go after the fed meeting and jay powell, again, saying there would be three rate cuts this year. jim, i want to come over to y
nobody was positioned for tech to run like it did even after the svb thing happened. nobody was positioned for that rally, and then it was almost painful to watch it happen because we were trying to figure out what was going on. a correction happens in the same way. so if everybody is on the side of this bull market will continue completely unencumbered, then a correction seems more likely. i think it's healthy. a modest pullback between 5% and 10% and be even more specific, 7% to 8%, would...
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Mar 7, 2024
03/24
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change something like that because i wouldn't want to have something, again, like what happened with svb. and i just wanted to get your take on that. >> sure. u.s. banks are well capitalized, and generally speaking they're quite well capitalized, and we're not talking about reducing current capital levels at all, really, in the basel iii end game, capital may well go up and what we're talking about is whether the proposal that was put out by the bank regulatory agencies, including the fed, which has been the subject of quite a lot of comment, whether -- what changes will be appropriate to that. that's what we're talking about, not reducing existing capital requirements. >> okay. and then i also want to play off of a comment made by my colleague from tennessee, and i actually agreed with him, and he's concerned about the deficit about it's a trillion dollars for every hundred dollar days. if the federal government added 3.5 trillion to the deficit by extending the trump tax cuts, would that increase or decrease inflation? >> so i'm going to fall back on our long time reluctance to comment
change something like that because i wouldn't want to have something, again, like what happened with svb. and i just wanted to get your take on that. >> sure. u.s. banks are well capitalized, and generally speaking they're quite well capitalized, and we're not talking about reducing current capital levels at all, really, in the basel iii end game, capital may well go up and what we're talking about is whether the proposal that was put out by the bank regulatory agencies, including the...
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Mar 19, 2024
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jonathan: there have been some fires to put out in the industry, one year since svb failed.less sugar was a rate shock and this year worries about a credit shock. have you seen any positive light from regional banks and and shape? brian: there hasn't been the kind of change that was last year -- kind of change there was last year. their unique business model is not involved. we see a lot of flow. the industry is well-capitalized, has good liquidity. from last year to this year, people shored up liquidity. commercial real estate is a slow burn. it is a classic burn. we had a rolling commercial real estate recession. there will be difficulties. the trading attitude isn't the way the banking system works. that is the value of the banking system. we work with clients comedic a building and figure out what the ultimate mental walls provide, you refinance it. sometimes that wipes out the equity. the top 30 banks go to the stress test which in effect says if your underwriting this if your underwriting in any way, you prove it right before you get a chance. the capital requirements
jonathan: there have been some fires to put out in the industry, one year since svb failed.less sugar was a rate shock and this year worries about a credit shock. have you seen any positive light from regional banks and and shape? brian: there hasn't been the kind of change that was last year -- kind of change there was last year. their unique business model is not involved. we see a lot of flow. the industry is well-capitalized, has good liquidity. from last year to this year, people shored up...
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Mar 7, 2024
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interesting thing there is that supervision, i'm going to here, supervisors did flag the issues at svbs. even years in advance. so they wrote supervisory letters to the management of s.v.b. and other constitutions flagging the liquidity problems, the interest rate exposure, the failure in risk management. the letters were being sent. what it did not do is to use their powers to get a commitmene issues. right? so the way we describe it in the painer that you held up is that there were supervisory hesitations. the supervisors hesitated to act aggressively tou know, get agreement from management to fix the chart. the issues are there, management basically ignored the right? and you know, what is striking is, in the u.s., unlike many other countries, in the u.s. supervisors do have the aggresse actions. supervisors have all the legal basis to very, very forceful but they were not. it's a hesitation of the supervisors that need fixing. they did see many of the problems but they hesitated to act. you know, when you think about the ex anter regulation, sorry, the prudential approach, there ar
interesting thing there is that supervision, i'm going to here, supervisors did flag the issues at svbs. even years in advance. so they wrote supervisory letters to the management of s.v.b. and other constitutions flagging the liquidity problems, the interest rate exposure, the failure in risk management. the letters were being sent. what it did not do is to use their powers to get a commitmene issues. right? so the way we describe it in the painer that you held up is that there were...
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Mar 8, 2024
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believe it's been a year and in some ways we're seeing deja vus out there on this one-year anniversary of svb'sd within the banking industry since then. the turmoil has left a lasting mark on equity prices with the kre under performing the larger bank weighted kce by 14 percentage points over the last year. larger banks were able to attract deposit from skittish customers, consumer and commercial, who were worried about keeping their funds in a smaller bank. if we look at the banking industry as a whole deposits grew in 4 q for the first time in seven quarters. lower rates towards year end helped pair back flosz underwater securities across balance sheets. that figure stood at $274 billion, down nearly $100 billion from peak losses in the third quarter of 2022. so those two issues that plagued last year's failures, interest rate rate risk amid deposit flight, don't seem to be as much of a problem now, however credit quality appears to be worsening. quarterly provisions, the amounts banks are setting aside for troubled loans have been picking up steam amounting to ability double the average in t
believe it's been a year and in some ways we're seeing deja vus out there on this one-year anniversary of svb'sd within the banking industry since then. the turmoil has left a lasting mark on equity prices with the kre under performing the larger bank weighted kce by 14 percentage points over the last year. larger banks were able to attract deposit from skittish customers, consumer and commercial, who were worried about keeping their funds in a smaller bank. if we look at the banking industry...
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Mar 1, 2024
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bank, which almost a year ago at this point, if you recall, when we had that mini banking crisis with svbsignature bank and then first republic all going out, they took on signature's loan portfolio. it hasn't gone well for them, particularly given what is already an outsize position in commercial real estate, particularly office. a number of loans brokered by this firm, meridian, which is very big here in the cre space in the new york area, a company called new mark, apparently, acting on behest of the fdic is the one that found these buyers, but what in the world were they thinking, sending this portfolio to nycb? >> i think it was a momentary, let's get this deal done. >> and let's not do a big bank because we're under a lot of political pressure not to reward the large banks? >> we already did one with jpmorgan. let's give it to small. this was a bank, by the way, that was always viewed as being a lender that was aggressive, so it did not -- anyone who's involved with this should have known the quality of how these -- the bookkeeping, by the way, the charges from 2008, pre-2008. >> al
bank, which almost a year ago at this point, if you recall, when we had that mini banking crisis with svbsignature bank and then first republic all going out, they took on signature's loan portfolio. it hasn't gone well for them, particularly given what is already an outsize position in commercial real estate, particularly office. a number of loans brokered by this firm, meridian, which is very big here in the cre space in the new york area, a company called new mark, apparently, acting on...
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Mar 1, 2024
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come back, we will talk about the potential regulation for regional banks a year after the collapse of svb. >>> a market flash for you. beyond meat is not able to file the report on time because of technical difficulties. the stock which jumped sharply on better than expected results when it did report, is down 1%. >>> as we head to break, let's look at the s&p 500 winners and losers. >> announcer: executive edge is sponsored by at&t business. next level moments need the next level network. and this must be the ocean view? of aruba? huh. this listing is misleading. well, when at&t says we give businesses get our best deal, on the iphone 15 pro made with titanium. we mean it. amazing. all my agents want it. says here...“inviting pool”. come on over! too inviting. only at&t gives businesses our best deals on any iphone. get iphone 15 pro on us. (♪♪) fresh, warm hot dogs! when i'm not selling hot dogs, i invest in a fund that advances innovations like robotics. fresh, warm hot dogs, straight out of my torso! one for you, one for you. oh, you're a messy one. cool, right? so cool. anyone can be
come back, we will talk about the potential regulation for regional banks a year after the collapse of svb. >>> a market flash for you. beyond meat is not able to file the report on time because of technical difficulties. the stock which jumped sharply on better than expected results when it did report, is down 1%. >>> as we head to break, let's look at the s&p 500 winners and losers. >> announcer: executive edge is sponsored by at&t business. next level moments...
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Mar 22, 2024
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because there was a regional banking crisis, svb had just collapsed, right?think that they appreciate that, and that's why they're in this position of max flexibility. but what we're hearing from our boots on the ground, our credit analysts, who talk to the companies who are impacted by these interest rates, is they're saying actually this is the best these companies have felt in quite a long time. and so, in our world, that's not just investing in treasuries, but also investing in things like investment grade and high yield credit, where you don't have to deal with the inverted yield curve. in fact, you can return -- you can get yields of 7% to 8%, that's equity like and you're higher up in the capital structure. we think it is a pretty good time for that. >> appreciate the lag. mind the gap, when you're on amtrak. remember that. right? you got -- don't step in -- do you mind the gap? >> yes. >> yeah. >> 100%. >> yeah. just reminding you. subway too. subway too. do not forget. kelsey, thank you. appreciate the lag from now on. you may have coined a term here
because there was a regional banking crisis, svb had just collapsed, right?think that they appreciate that, and that's why they're in this position of max flexibility. but what we're hearing from our boots on the ground, our credit analysts, who talk to the companies who are impacted by these interest rates, is they're saying actually this is the best these companies have felt in quite a long time. and so, in our world, that's not just investing in treasuries, but also investing in things like...
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Mar 31, 2024
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