Free Republic

Overall, JPMorgan Chase is telling us that the “most vulnerable” banks in this country have “lost a total of about $1 trillion in deposits since last year”…

Here comes the panic. Bloomberg just reported that Treasury Secretary Janet Yellen – who was singlehandedly responsible for stoking and restarting the bank crisis on Wednesday which until that day was easing back, with her comments that nobody in charge was even talking about a uniform deposit insurance, let alone working on one – will convene the heads of top US financial regulators Friday morning for a previously unscheduled meeting of the Financial Stability Oversight Council. The meeting will be closed to the public, the Treasury Department said in a statement. The Treasury didn’t say what time the meeting would...

Some 186 financial institutions in the United States are vulnerable to a collapse if uninsured depositors seek to withdraw their funds, according to a study from analysts with the National Bureau of Economic Research. The research comes shortly after the collapse of Silicon Valley Bank, where the vast majority of accounts exceeded the $250,000 threshold guaranteed by the Federal Deposit Insurance Corporation (FDIC). Financial authorities scrambled to back all deposits at Silicon Valley Bank such that the remainder of the financial system, in which roughly half of deposits surpass $250,000, would remain safeguarded against bank runs. Silicon Valley Bank had...