JPMorgan m fl banker sätter in typ 300 miljarder i krisbank. På vilka villkor?
Det var ett stort principgenombrott när myndigheterna betalade ersättning till alla insättare i Silicon Valley Bank, dvs även till insättare med belopp över det tak som finns.
Vad gäller nu? Om det går illa skall då medborgarna på ett eller annat sätt betala till JPMorgan?
Insättning som insättning.
Bankerna borde i stället betalat genom en till dem riktad nyemmission.
Aktieägare bailas inte ut. I alla fall inte ännu.
Englund blogg 16 mars 2023
First Republic Bank Executives Sold $12 Million in Stock in Months Before Crash
Insider sales at bank are exempt from normal disclosure rules
First Republic support is spreading financial contagion, says Ackman.
Hedge fund manager Bill Ackman is not happy that the systemically important banks (SIBs) have been chivvied into recycling the deposits they received from First Republic Bank (FRB) back into the struggling lender.
“The result is that FRB default risk is now being spread to our largest banks.
Spreading the risk of financial contagion to achieve a false sense of confidence in FRB is bad policy.
The SIBs would never have made this low return investment in deposits unless they were pressured to do so and without assurances that FRB deposits would be backstopped if it failed,” Ackman wrote
MarketWatch 17 March 2023
First Republic Set to Get $30 Billion of Deposits in Rescue
JPMorgan, Citi, BofA among big banks that would contribute
Eleven Banks Deposit $30 Billion in First Republic Bank - WSJ
SVB Backstop Revives the Specter of Moral Hazard - Dodd-Frank Act
When bad things happen in banking, limits on deposit insurance turn out to be meaningless.
https://englundmacro.blogspot.com/2023/03/svb-backstop-revives-specter-of-moral.html
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