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Financials getting destroyed. Silvergate Capital, SVB Financial down 70%, rumors of bank runs. Credit Suisse Winding Down?

Financials getting destroyed. Silvergate Capital, SVB Financial down 70%, rumors of bank runs. Credit Suisse Winding Down?

Silicon Valley Bank online banking system and mobile services are now unavailable for business clients. The stock is down over 80% yesterday alone.

In 2021 SVB saw a mass influx in deposits, which jumped from $61.76bn at the end of 2019 to $189.20bn at the end of 2021.

As deposits grew, SVB could not grow their loan book fast enough to generate the yield they wanted to see on this capital. As a result, they purchased a large amount (over $80bn!) in mortgage backed securities (MBS) with these deposits for their hold-to-maturity (HTM) portfolio.

97% of these MBS were 10+ year duration, with a weighted average yield of 1.56%.

The issue is that as the Fed raised interest rates in 2022 and continued to do so through 2023, the value of SVB’s MBS plummeted. This is because investors can now purchase long-duration "risk-free" bonds from the Fed at a 2.5x higher yield.

This is not a liquidity issue as long as SVB maintains their deposits, since these securities will pay out more than they cost eventually.

However, yesterday afternoon, SVB announced that they had sold $21bn of their Available For Sale (AFS) securities at a $1.8bn loss, and were raising another $2.25bn in equity and debt. This came as a surprise to investors, who were under the impression that SVB had enough liquidity to avoid selling their AFS portfolio.

Here's what happened to the banks stock price: 

This is big, a woman I spoke to is an MBA at a small tech company. She said her company was freaking out and was trying to pull money out all day and all the transactions are still “pending”. There are so many of these smaller tech companies out there that aren’t even profitable yet and they could easily go belly up over this.

This goes way beyond just some banking contagion.

401-K Withdrawals being Delayed MONTHS!

Word from money giant VANGUARD is that people with 401-k's who have been trying to make "Hardship withdrawals" for the past two months, have been stymied by VANGUARD.

According to one customer, he has been trying to take money out of his 401-K to pay down some medical debt.  People with 401-K's can make what are called "Hardship Withdrawals" to get some cash during troubled finances, and minimize the tax impact.

Instead of giving this one man his money, VANGUARD demanded to see the Explanation of Benefits (EOB) from his health insurance!  The guy sent it, showing exactly the medical procedure he had done, the charges, what the Insurance paid, and what his portion is.  That was two months ago.  According to the man, VANGUARD has still not sent his money and each time he calls or writes, he is told either "We need the EOB" or "The transaction is still pending."  

Result:  No money from VANGUARD!

banks are hurtin..

SIVB  -60.41%
BKX  -7.70%
GS  -2.06%
MS  -3.86%
CUBI  -8.93%
FRC  -16.51%
SASR  -7.13%
NYCB  -6.33%
FFWM  -8.80%
ALLY  -7.00%
DCOM  -2.15%
PPBI -7.50%
PB  -4.51%
CLBK  -3.54%
CMA -8.01%
FHN  -1.97%

Moreover,  BCS -3.60%

Watch Barclay's.

Deutsche Bank collapse 10% before slightly recovering in opening trading

 

CREDIT SUISSE WINDING DOWN???

The Depository Trust & Clearing Corporation is an American post-trade financial services company providing clearing and settlement services to the financial markets.  The organization posted THIS NOTICE about Credit Suisse yesterday:

This has left many people wondering if Credit Suisse is dead?

 

WELLS FARGO ISSUES?

Reports are coming in as of 7:46 AM EST of money missing in wells Fargo accounts this morning.

They are claiming a direct deposit issue. we will see.

 

STOCKS TOO!

Stock markets across Asia down 3%, German and French exchanges just open down 1.8% in minutes, London down 1.6%

 

Hold on to your hats!

Fed might be forced to reverse monetary policy next week!!

Black Friday …Black Monday??

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Comments

Aussiefrank
5 days ago
China’s plan for asymmetrical warfare.

Keep it below actual shooting while still achieving your goals.
jbojackson
5 days ago
little by little it's all happening, they had to tell us.. They just continue to tell us making it like, it's all in the MOVIES. We are the movie folks!
What is next? Communications go down.... Then the White Teslas (I cringe everytime I see one)
Kodiak
5 days ago
Almost perfectly said.
Better said!
The Jew controlled USA is attacking the USA
Red Deer
5 days ago
That may have contributed but I feel it is an inside job. Emigrants become useful idiots and scapegoats for treasonous acts from within. Just look at the legislation our "leaders" have allowed and the the corruption of the courts. This is all done within the framework of our government serving the people they represent.
Remember the Russians did not allow Biden to win, nor have they benefited from the election. They had better relations with Trump and we had better government.
Art70
5 days ago
It appears the U.S. is under attack ?
More like those who are in charge of the U S. are responsible.
snooky
5 days ago
Go down any old rathole and there will be treasonous duel-citizen at the helm- Nobody talks about Avril Haines the wicked Jewish bitch who oversees all US intelligence services- she’s the culprit behind the screen letting the worst things happen on her watch- High Treason
Madm0j0
5 days ago
Excellent time to get stocked up. A lotta products flow on that river. All the way to the Mississippi!😕

Including a “lot” for defense!
Eyez2C
5 days ago
"Allowed into this country?" More like invited, supported & encouraged. Then, there's the Migration Compact signed by the 3 North American countries....all 3 are guilty.
SignaltoNoise
6 days ago
Quoting Rok:
The USA has so many enemies now I can't say who is behind this.

Iran?
China?
Ukraine, for being pissed we stopped or slowed done support?
Libtards commies in this country
space aliens
or maybe the beginning of God's judgments. Those with eye to see will get this.

I can tell you this: no matter who, I blame the US Gov for allowing them into this country and open borders. Not having a clue who is inside.

It's all one temple with many branch plants also known as governments.
LindaL23
6 days ago
76 years of blessing Israel. See where that has gotten us.
Those who bless evil will be cursed by God.
LindaL23
6 days ago
Quoting Marm:
I'm from Pittsburgh, this happens when there is heavy flooding on the rivers. Look back in history. Nearly an annual occurrence.

Then why have they not done anything to prevent this kind of thing from occuring every time the river rises? Also, it is not like they did not know the river levels were rising and to get most of the barges down river or moored better. Just plain stupidity, or planned.
hereforthecake
6 days ago
The USA is attacking the USA
Paul Lambert
6 days ago
That's how we can know that such are NOT responsible for all of this.
gravedigergary
6 days ago
Very interesting.
gravedigergary
6 days ago
Right
gravedigergary
6 days ago
Of course.
gravedigergary
6 days ago
Well said. Im a vet, and American Legion member, but ashamed of our stinking government .
gravedigergary
6 days ago
Sad but the plain truth. Communists in office, killing the USA and Canada.
gravedigergary
6 days ago
Sadly true, but most still call us conspiracy theorists and nut cases, while the world and North America burn.
Sludgehammer
6 days ago
Rumor has it he liked the jailbait.
Sludgehammer
6 days ago
✡️💩💲
Sludgehammer
6 days ago
This is what the libtards want.
Mattie J
6 days ago
Another possibility: New Madrid

SOZT
As we have explained repeatedly, a plate jolt to objects on water does not have a brake. Thus anything on the water will continue to move on the path the jolt pushed it into, unlike objects on land which will be grounded and thus stop moving. Friction with the land is the brake. The SE Portion is being jerked to the SE, along with Africa when it rolls, and these jerks have only started. It may be rivers and lakes and bays that are a concern now, but quake devastated cities and highways will be next. This is the New Madrid Adjustment, now starting.
EOZT

https://poleshift.ning.com/forum/topics/zetatalk-chat-for-april-30-2024?id=3863141%3ATopic%3A1161422&page=2#comments
Bayeranton
6 days ago
This is the result of a open border and Obama bringing in Muslims and finding terrorism through Iran
Marm
6 days ago
I'm from Pittsburgh, this happens when there is heavy flooding on the rivers. Look back in history. Nearly an annual occurrence.
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