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Bank runs in the USA?

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By *lecom1 OP   Couple
over a year ago

Stornoway

Is this the week we get a major implosion of the banking system in the USA? Will it affect the UK and Europe? All looks very dodgy with SVB and a few other banks over there

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By *ercuryMan
over a year ago

Grantham

The US Goverment is now propping up SVB.

The UK Treasury has been working to help the UK companies based there.

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By (user no longer on site)
over a year ago

Strange .. I'd have thought with the USA now onshoring so much production the banks would be in a good position to earn from their lending.. we need to do the same here. Tax imported stuff more ..

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By *ercuryMan
over a year ago

Grantham

In fact, HSBC have purchased the UK part of the bank.

No taxpayers money needed

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By *asyukMan
over a year ago

West London


"Strange .. I'd have thought with the USA now onshoring so much production the banks would be in a good position to earn from their lending.. we need to do the same here. Tax imported stuff more .. "

This seems to be a consequence of the last administration loosening banking regulations and this particular bank taking full advantage. Remember 2008 and the reason for regulations being introduced?

The USA is a huge internal market so if you make a big investment in a factory you can recoup it.

If you have to spend the same amount here you cannot recoup it from the very much smaller number of customers. If you have imposed import taxes, then everyone will do the same to you so you cannot export either.

All that happens is that your prices rise.

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By *asyukMan
over a year ago

West London


"Is this the week we get a major implosion of the banking system in the USA? Will it affect the UK and Europe? All looks very dodgy with SVB and a few other banks over there"

Banking regulations from the 2008 crisis loosened by the previous administration, it seems.

Quite amazing

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By *iman2100Man
over a year ago

Glasgow


"Is this the week we get a major implosion of the banking system in the USA? Will it affect the UK and Europe? All looks very dodgy with SVB and a few other banks over there

Banking regulations from the 2008 crisis loosened by the previous administration, it seems.

Quite amazing "

Absolutely correct - Trump rolled back the Dodd-Frank "too big to fail" regulation from $50 billion to $250 so the Silicone Valley Bank at $200 billion did not need to do stress tests. So it failed when interest rates rose.

It would appear the Republicans want to return to the days of the wild west.

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By *ouple in LancashireCouple
over a year ago

in Lancashire


"Is this the week we get a major implosion of the banking system in the USA? Will it affect the UK and Europe? All looks very dodgy with SVB and a few other banks over there

Banking regulations from the 2008 crisis loosened by the previous administration, it seems.

Quite amazing

Absolutely correct - Trump rolled back the Dodd-Frank "too big to fail" regulation from $50 billion to $250 so the Silicone Valley Bank at $200 billion did not need to do stress tests. So it failed when interest rates rose.

It would appear the Republicans want to return to the days of the wild west. "

Because that'll be how they make more money most likely..

Trump will blame China or say it's fake news ..

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By (user no longer on site)
over a year ago

Sounds like a nice acquisition for HSBC to be honest.

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By *asyukMan
over a year ago

West London


"Sounds like a nice acquisition for HSBC to be honest."

This is true. They have acquired several valuable UK customers without any associated debt.

Big win.

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By *enny PR9TV/TS
over a year ago

Southport

Another one in the U.S. has gone, Signature Bank.

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By *abioMan
over a year ago

Newcastle and Gateshead


"Another one in the U.S. has gone, Signature Bank. "

Signature is one close to home because they are a very regional New York bank… (I’ve always had my money in citi, but I do know signature customers) best way to describe them is they were like a Leeds and Bradford before they went more national…

Anyway.. again it’s liquidity issues where it seems because they had so much money tied up in government bonds they didn’t have enough for the run on them

But they are also being saved so it’s not that bad

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By (user no longer on site)
over a year ago


"Another one in the U.S. has gone, Signature Bank.

Signature is one close to home because they are a very regional New York bank… (I’ve always had my money in citi, but I do know signature customers) best way to describe them is they were like a Leeds and Bradford before they went more national…

Anyway.. again it’s liquidity issues where it seems because they had so much money tied up in government bonds they didn’t have enough for the run on them

But they are also being saved so it’s not that bad

"
Barney Frank was in the board of directors at signature. I just find it odd.

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By *enny PR9TV/TS
over a year ago

Southport


"Another one in the U.S. has gone, Signature Bank.

Signature is one close to home because they are a very regional New York bank… (I’ve always had my money in citi, but I do know signature customers) best way to describe them is they were like a Leeds and Bradford before they went more national…

Anyway.. again it’s liquidity issues where it seems because they had so much money tied up in government bonds they didn’t have enough for the run on them

But they are also being saved so it’s not that bad

Barney Frank was in the board of directors at signature. I just find it odd."

You know your banking system is in great shape when the President comes live on TV at 9am and tells you everything is fine.

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By (user no longer on site)
over a year ago


"Another one in the U.S. has gone, Signature Bank.

Signature is one close to home because they are a very regional New York bank… (I’ve always had my money in citi, but I do know signature customers) best way to describe them is they were like a Leeds and Bradford before they went more national…

Anyway.. again it’s liquidity issues where it seems because they had so much money tied up in government bonds they didn’t have enough for the run on them

But they are also being saved so it’s not that bad

Barney Frank was in the board of directors at signature. I just find it odd.

You know your banking system is in great shape when the President comes live on TV at 9am and tells you everything is fine. "
lol he has to as to not cause runs on banks.

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By *ackal1Couple
over a year ago

Manchester


"In fact, HSBC have purchased the UK part of the bank.

No taxpayers money needed "

I don’t know anything factually but I would have a strong guess that HSBC have shaken hands with the treasury on a deal to make this go away. Whether that’s tax breaks or subsidy who knows but the fact the Treasury we’re working with banks rather than banks scrambling to takeover the failed one hints in my opinion to a sweetener. Like I said only speculation but if it looks like a duck!,

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By *r LickalotapussMan
over a year ago

Stansted Airport

The aftershocks will probably traverse most continents over next 2 weeks.

Accept its commercial risk but what upsets me most is the impact to pension funds that invest in these supposedly robust institutions.

Sad times.

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By *abioMan
over a year ago

Newcastle and Gateshead

This truely was the first bank run in the social media era… the last time there was a run on a us bank was Washington mutual 20 years ago… people took out 11billion dollars over a 10 day period

With SVB people tried to take out 42 billion over a 48hr period!

Word of mouth and social media told people to try and get their money out ASAP!

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By *enny PR9TV/TS
over a year ago

Southport


"This truely was the first bank run in the social media era… the last time there was a run on a us bank was Washington mutual 20 years ago… people took out 11billion dollars over a 10 day period

With SVB people tried to take out 42 billion over a 48hr period!

Word of mouth and social media told people to try and get their money out ASAP! "

Plus nowadays you don't have to line up outside a bricks and mortar bank to get your money out. Moodys have said 20 other banks are at risk, as well as downgraded 6 banks.

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By *urreyfun38Couple
over a year ago

croydon

And now Credit Suisse is going to fall

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By *asyukMan
over a year ago

West London


"And now Credit Suisse is going to fall"

Not related, but bad timing in a nervous market.

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