2023-05-02
The FDIC estimates its loss on First Republic will be $13bn. That takes total losses to $35.5bn - a quarter of the Deposit Insurance Fund. It leaves the insurance fund at 0.92% of insured deposits (vs stat min of 1.35%). Big levy on the big banks to build that back up.
Financial Times
The FDIC and California regulators say JPMorgan Chase plans to acquire most of First Republic Bank, which was a tad bigger than SVB and had $100B+ in outflows
now JPMorgan Chase's — uninsured depositors is Sen. Dianne Feinstein who, according to her latest financial disclosure, had between $1,000,001 and $5,000,000 in a First Republic ac...
2021-07-01
I've read a lot of regulatory complaints against banks in the past, but this one against Robinhood is pretty bad. https://www.finra.org/...
Wall Street Journal
Financial Industry Regulatory Authority fines Robinhood $70M for misleading customers and system outages, the biggest fine it has ever imposed
the largest fine the agency has ever imposed — over systems outages and customers being approved to trade options when it was not “appropriate” for them to do so. https://www.nytim...
2020-10-15
“China's central bank digital currency...has the potential to create the world's largest centralised repository of financial transactions data and...would also create unprecedented opportunities for surveillance.” h/t @AitkenAdvisors https://www.aspi.org.au/...
ASPI
A look at DC/EP, China's new sovereign digital currency, and the policy drivers behind it, its architecture, and its expected impact on global finance
ASPI : Tweets: @he_shumei , @gerryshih , @aitkenadvisors , @aspi_org , @marcruby , and @aspi_org Tweets: Samantha Hoffman / @he_shumei : Just released: A new @ASPI_ICPC report 'Th...