Tema: PPCC-Pisitófilos Creditófagos-Invierno 2022

[Benzino Napaloni]

Ahora vamos a ver como se pone a prueba el ya casi mitológico escudo bancario.

Estas primeras instituciones con problemas muy "shadow" no son. 

Por otra parte, me encanta el discurso de la Reserva Federal, que sale al rescate con dinero público (chiquiiii) pero dejando claro que a los contribuyentes no les va a costar nada. Oximoron way of life.

Pero los gringos son serios y no van a hacer como cierta Sareb, ¿no? ¿No?

El alza de tipos puede hacer caer el precio de las casas y debilitar la economía
https://cincodias.elpais.com/mercados-financieros/2023-03-13/el-alza-de-tipos-puede-hacer-caer-el-precio-de-las-casas-y-debilitar-la-economia.html
El mercado inmobiliario español ha comenzado ya a resquebrajarse y entra en un escenario de caídas sustanciales en los precios



Atención: economía = precio-inmuebles.








Pues que se debilite.

Mientras, de vuelta a los tópicos "animosos". "El gobierno no lo permitirá". "No van a bajar más". "Sería malo para nuestra economía". Y así desde julio de 2007 hasta mediados de 2013 más o menos.

Si entonces no hubo un crash inmobiliario súbito fue porque Droghi Draghi se dio prisa en bajar los tipos y que volviese a circular la farlopa. Veremos si Lagarde es digna de su predecesor "Trinchete" y no le tiembla la mano hasta que se haya purgado toda la basura.


Será interesante recopilar los discursos de los entrampados de un año para atrás a dentro de un año. Vamos a ver cada cosa... Igual desempolvan El Secreto de Rhonda Byrne para animarse . (Qué bodrio de panfleto, la Virgen )

[Derby]

Más regulación, más economía centralizada...más certeza y menos incertidumbre/inseguridad.

https://www.ft.com/content/21d9c4c5-8877-44ef-91ca-12a2708e208e

Biden vows to do ‘whatever is needed’ to protect US bank deposits

US president Joe Biden vowed to do “whatever is needed” to protect bank deposits as he sought to reassure Americans that their money was safe in the face of a sudden banking crisis that has threatened to upend the economy and financial markets.

He said the White House was determined to stem any further contagion a day after authorising federal regulators to intervene to guarantee the uninsured deposits at Silicon Valley Bank, the California lender that suddenly collapsed last week.

“We will not stop at this. We’ll do whatever is needed on top of all [this],” he said, calling for a “full accounting of what happened and why those responsible can be held accountable”.

Biden added that he would ask Congress and banking regulators to “strengthen the rules for banks to make it less likely this kind of bank failure would happen again”.

[newclo]

Biden vows to do ‘whatever is needed’ to protect US bank deposits

De momento Bitcoin subiendo un 18% en las últimas 24 horas y el oro rompiendo los $1900

Eso es lo que veo yo de la credibilidad del Sistema Financiero FIAT

[Derby]

Igual desempolvan El Secreto de Rhonda Byrne para animarse .

 

[AbiertoPorDemolicion]

Biden vows to do ‘whatever is needed’ to protect US bank deposits

De momento Bitcoin subiendo un 18% en las últimas 24 horas y el oro rompiendo los $1900

Eso es lo que veo yo de la credibilidad del Sistema Financiero FIAT

Hay que saber tambien con qué volumen se están produciendo esas subidas. Para mi, que con bastante poco.

[Benzino Napaloni]

Igual desempolvan El Secreto de Rhonda Byrne para animarse .

 

Pues bromas aparte...

https://es.wikipedia.org/wiki/Piense_y_h%C3%A1gase_rico
https://es.wikipedia.org/wiki/C%C3%B3mo_ganar_amigos_e_influir_sobre_las_personas

Pocos saben que la literatura basura de la "autoayuda" empezó en la Gran Depresión. Al menos en su versión moderna, porque el mundo está inventado desde hace mucho. No es casualidad que cuando vienen mal dadas aparecen por todas partes los chamanes. Es el mismo estilo de literatura basura.

Y desde el fin de la crisis hasta los 80, en plenos Treinta Gloriosos, no se oía a un solo chamán porque había trabajo para todo el que quería.

[Negrule]

Creo que los que estarán más contentos con todo este rollo del SVB van a ser los hipotecados 

[Currobena]

Creo que los que estarán más contentos con todo este rollo del SVB van a ser los hipotecados 

Igual piensan que si quiebra no tienen que pagar la hipoteca con el banco.

[Derby]

https://www.wsj.com/articles/feds-magical-accounting-might-save-banks-but-doom-rate-increases-87ff7b32

Fed’s Magical Accounting Might Save Banks But Doom Rate Increases

There are plenty of lessons for investors in the collapse of SVB and the other banks

(...) Will the Fed have to pull back from rate rises, though? Past rate cycles frequently led to major financial problems that forced the Fed to reverse course, as analyst Ed Yardeni of Yardeni Research points out. Most obvious was the subprime meltdown in 2007, which prompted rate cuts, as did the 1998 blowup of hedge fund Long-Term Capital Management. The 1994 Mexican peso devaluation, which roiled Wall Street, ended the Fed’s aggressive rate rises.

The Fed has a bigger problem with inflation today, though. In 2007 the Fed was willing to cut rates in spite of an oil-driven acceleration in inflation because the financial system meltdown was obvious. In 1998, inflation had collapsed below 2%, while around the time of the peso crisis inflation was fairly stable. This time inflation remains far above target, the jobs market is still tight and, until last week’s bank collapses, Fed Chairman Jerome Powell was talking up the need for higher rates for longer.

A better parallel might be the Bank of England, which had its own serious crisis in the autumn. Faced with an implosion in British pension funds and forced selling in the government-gilts market, it stepped in to buy bonds—a form of easing—on a temporary basis. But it stuck with its plans to keep selling bonds and raising rates. The troubles in the U.K. were caused by an incompetent government rather than a bank, but didn’t end the monetary cycle.

Of course, financial troubles have an effect on the real economy. In the U.K., sharply higher mortgage rates slowed the housing market and economy, and so potentially will feed a slower pace of monetary tightening than would have happened otherwise. The sight of SVB’s tech startup customers panicking about how to make payroll might induce caution among some companies, while banks are likely to think twice about extending themselves, in spite of the Fed backstop. Both could slow things down, reducing the need for the Fed to push rates up quite so fast. But both are uncertain, and the Fed is likely to remain more concerned about the obvious inflationary pressures, at least until signs of slowdown become clear.

There are plenty of lessons for investors in the collapse of SVB and the other banks. The first is about single-stock risk. SVB Financial Group, the bank’s holding company, was in the S&P 500 and had been worth $44 billion 18 months ago—and still $16 billion on Wednesday. “Don’t put all your eggs in one basket” is a cliché because it is true.

The second is about the nature of risk. SVB hit trouble not because it was making foolish loans to high-risk borrowers, but because it bought some of the world’s safest assets, U.S. Treasurys. Similarly, Circle’s stablecoin—a cryptocurrency tied to the dollar—got into trouble because it took a more cautious approach than some rivals, putting a big chunk of its assets into bank deposits. Some of those were with SVB, and its value collapsed far below its dollar peg.

Bonds and businesses have different risks of default, different chances of loss. The key for investing in them is that the risks are priced in—and safe assets can be just as overvalued as risky ones.

The third lesson is about double-or-nothing bets. SVB, as well as Silvergate, a failed crypto-focused bank once worth $6 billion, had the same interest-rate risk on both sides of their balance sheet. When rates rose, the bonds they had bought fell in value.

On its own this is annoying for shareholders, but not existential, because banks that plan to hold bonds to maturity keep marking them at face value. It matters only if the bonds have to be sold to repay creditors or depositors—and here the two banks had doubled down. They focused on customers—tech entrepreneurs and crypto bros—who were particularly sensitive to rates. When rates rose, both needed their cash, so deposits that had flooded in during the boom washed back out, and the bonds had to be sold.

Investors often make a similar mistake. It is easy to think you can sit out a temporary downturn, and invest in risky or hard-to-sell assets. But the most likely cause of a deep temporary downturn is recession, and that’s likely to hit not only your investments but also your income. Job losses often lead to forced asset sales at just the wrong time. Take the lesson from SVB.

[Derby]

Former Fannie Mae CEO Tim Mayopoulos has been named the new chief executive of Silicon Valley Bank

https://www.fdic.gov/news/press-releases/2023/pr23019.html

FDIC Acts to Protect All Depositors of the former Silicon Valley Bank, Santa Clara, California

The FDIC named Tim Mayopoulos as CEO of Silicon Valley Bank, N.A. Mr. Mayopoulos is former president and CEO of the Federal National Mortgage Association and most recently served as president of Blend Labs, Inc.

[senslev]

No se de cuándo es, ni si algún compañero del foro lo ha puesto, pero que se vaya a tomar por el puto culo ya (me perdonen por el exabrupto).

https://twitter.com/Matt_gdp/status/1634786332818956288?s=20

[Derby]

https://www.federalreserve.gov/newsevents/pressreleases/monetary20230312a.htm

Federal Reserve Board announces it will make available additional funding to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors

To support American businesses and households, the Federal Reserve Board on Sunday announced it will make available additional funding to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors. This action will bolster the capacity of the banking system to safeguard deposits and ensure the ongoing provision of money and credit to the economy.

The Federal Reserve is prepared to address any liquidity pressures that may arise.

The additional funding will be made available through the creation of a new Bank Term Funding Program (BTFP), offering loans of up to one year in length to banks, savings associations, credit unions, and other eligible depository institutions pledging U.S. Treasuries, agency debt and mortgage-backed securities, and other qualifying assets as collateral. These assets will be valued at par. The BTFP will be an additional source of liquidity against high-quality securities, eliminating an institution's need to quickly sell those securities in times of stress.

With approval of the Treasury Secretary, the Department of the Treasury will make available up to $25 billion from the Exchange Stabilization Fund as a backstop for the BTFP. The Federal Reserve does not anticipate that it will be necessary to draw on these backstop funds.

After receiving a recommendation from the boards of the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve, Treasury Secretary Yellen, after consultation with the President, approved actions to enable the FDIC to complete its resolutions of Silicon Valley Bank and Signature Bank in a manner that fully protects all depositors, both insured and uninsured. These actions will reduce stress across the financial system, support financial stability and minimize any impact on businesses, households, taxpayers, and the broader economy.

The Board is carefully monitoring developments in financial markets. The capital and liquidity positions of the U.S. banking system are strong and the U.S. financial system is resilient.

Depository institutions may obtain liquidity against a wide range of collateral through the discount window, which remains open and available. In addition, the discount window will apply the same margins used for the securities eligible for the BTFP, further increasing lendable value at the window.

The Board is closely monitoring conditions across the financial system and is prepared to use its full range of tools to support households and businesses, and will take additional steps as appropriate.

https://www.federalreserve.gov/newsevents/pressreleases/files/monetary20230312a1.pdf

[Derby]

https://twitter.com/Schuldensuehner/status/1635240142867931136

@Schuldensuehner OUCH! Cost of insuring against Credit Suisse default (CDS price) hit record amid SVB fallout.

[Asdrúbal el Bello]

Biden vows to do ‘whatever is needed’ to protect US bank deposits

De momento Bitcoin subiendo un 18% en las últimas 24 horas y el oro rompiendo los $1900

Eso es lo que veo yo de la credibilidad del Sistema Financiero FIAT

Si la salida a este lío es el oro, las cryptos, y emitir más bonos, y todo esto lo veo más como las procesiones propiciatorias bizantinas de 1453 Sarraceni ad portas

[el malo]

No se de cuándo es, ni si algún compañero del foro lo ha puesto, pero que se vaya a tomar por el puto culo ya (me perdonen por el exabrupto).

https://twitter.com/Matt_gdp/status/1634786332818956288?s=20

No puede ser verdad, tiene que ser una troleada. Esto es Pantomima Full llevado al extremo.

La "habitación grande" reservada para dos doctores.. "Por eso ponemos a la gente obesa abajo y a la delgada arriba".

Tiene que ser un fake seguro. No me imagino a una pareja de doctores alquilando esa puta mierda de habitación separada del vecino por cartones, ni a nadie teniendo semejante cara dura como para enseñarlo así.

Luminoterapia dice el artista 

Edito: es real 

https://www.abc.es/espana/madrid/abci-primeros-pisos-colmena-madrid-estan-construidos-202002122026_noticia.html

El personaje existe y tiene la cara de titanio. Sabe que lo que hace es ilegal y le da igual (y se lo permiten).