tyb
PlaneFag CONUS Update-Blinken goes to Denver, NATO AC departed JBA back to Brussels, SPAR and Coast Guard activity
SAM352 C-32ABlinkenheading west to Denver for Cities Summit of the Americas
Secretary Blinken to Travel to Denver, Colorado to Attend the Cities Summit of the Americas
https://www.state.gov/secretary-blinken-to-travel-to-denver-colorado-to-attend-the-cities-summit-of-the-americas/
SAM590 went to Peterson SFB earlier today and most likely Under Secretary for Civilian Security, Democracy, and Human Rights Uzra Zeya
C102 US Coast Guard G5 north from Reagan National at 39k ft
SPAR87 NATO G5 departed JBA after arriving on 0423 from a Ramstein AFB depart, stop at Brussels and then to JBA
SPAR13 and 18 C-40Cs heading to JBA from Scott AFB
>>18761920, >>18761936 pb
EJM473 G650 went to Morristown Muni Airport from it's quick stop & drop at Barnes Muni Airport, Westfield-MASS (red dots and cap#2)
N757AF 757 on ground at Manchester Int'l-parked at Signature Flight Support Services Bldg
>>18762045 pb
92-9000 747 went a little farther north and then returned to JBA after rounding FL earlier today
PAT497A C-26D Metro went to Charlottesville, VA and now back at Columbia
FORGE63 US Army G5 NE from Nashville Int'l overnight-inbound from MacDill AFB (CENTCOM) yesterday
Bank Bailout Facility Usage Soars For 2nd Straight Week, Money Market Inflows Resume
After last week saw The Fed's balance sheet continue is decline back from its bank-bailout resurgence, all eyes will be back on H.4.1. report this evening to see if things have continued to 'improve' or re-worsened amid regional bank shares re-testing post-SVB amid earnings disappointments.
Following the unexpected OUTFLOW the previous week, this week saw money market funds resume their trend with a $53.8 billion INFLOW (and as long as the Reverse Repo Process, via the real arm of the FRB the New York branch, continues to pay risk free munee @4.8% this trend will continue with the occasional hiccup like SVB or First Republic). The breakdown was $48.9 billion from Institutional funds and $4.98 billion from retail funds. That pushed assets back up near their $5.277 trillion record high and suggests last week's deposit OUTFLOWS may be about to re-accelerate - not good news for banks? On top of the news from First Republic this week, one could argue that Round 2 of the banking crisis (bank superwalk as Jim Bianco has put it) is just beginning. Bear in mind though that it's tax-time and their are some odd seasonal impacts to the data. (Not that much ..really nigga?)'
Though not wanting to piss all over those hopeful fireworks, we note that reverse repo continues to rise (Cap#2 is today's ($2.273.925T @ 4.8% and trend line going all the way back when they started up again (in size) May '21). However, the most anticipated financial update of the week - the infamous H.4.1. showed the world's most important balance sheet shrank for the 5th straight week last week, by $30.5 billion, notably more than last week's tumble ("helped" by a $16.6bn QT) The Total Securities held outright on The Fed balance sheet fell to $7.84 trillion, the lowest since Sept 2021. Looking at the actual reserve components-cap#3 that were provided by the Fed, we find that Fed backstopped facility borrowings ROSE AGAIN last week from $144 billion to $155.2 billion (still massively higher than the $4.5 billion pre-SVB). …but the composition shifted, as usage of the Discount Window rose by $4 billion to $73.8 billion (upper pane below) along with an $8 billion increase in usage of the Fed's brand new Bank Term Funding Program-Cap#4, or BTFP (this is ran out the US. Treasury Exchange Stabilization Fund), to $81.3 billion (middle pane) from $79.0 billion last week. Meanwhile, other credit extensions - consisting of Fed loans to bridge banks established by the FDIC to resolve SVB and Signature Bank were relatively unchanged at around $170BN (lower pane) All in cap#4
Scanning down the H.4.1, Cap#5 we note that Foreign repo down another $20 billion back to $0 finally and Other Fed Assets (loans to FDIC etc) rose $2.3 billion to $170.4 billion. Of course we get to see the actual deposit outflows (or inflows) tomorrow after the bell, but it appears the hopeful bounce was nothing more than the tax-related seasonal we warned about last week.
https://www.zerohedge.com/markets/bank-bailout-facility-usage-soars-2nd-straight-week-money-market-inflows-resume
Cap#2 sauce
https://www.newyorkfed.org/markets/desk-operations/reverse-repo
Please Refresh 40 posts of crapola removed
Thank you
card had picture, name and affiliation and worded question
LA Times was even circled
Whatever you say
from yesterday
First Republic Faces Potential Curb on Borrowing From Fed
US bank regulators are weighing the prospect of downgrading their private assessments of First Republic Bank — a move that may curb the troubled firm’s access to Federal Reserve lending facilities.
The Federal Deposit Insurance Corp. has been giving the bank time to reach a private deal to shore up its finances. But as weeks keep passing without a transaction, senior officials are increasingly weighing whether to downgrade their scoring of the firm’s condition, including its so-called Camels rating, according to people with direct knowledge of the talks. That would likely limit the bank’s use of the Fed’s discount window and an emergency facility launched last month, the people said.
The FDIC hasn’t reached a decision, nor have officials warned First Republic about their thinking while waiting on the bank’s managers to shore up its balance sheet, some of the people said, asking not to be identified discussing the private conversations. If the firm is able to reach a deal with new backers to strengthen its finances, that could head off the need to lower ratings.
Spokespeople for the company, FDIC, Fed and Treasury declined to comment.
First Republic has been struggling to find a rescuer for weeks, and any steps to raise capital or sell holdings quickly could be painful for current shareholders. The stock lost half its remaining value on Tuesday after quarterly results disappointed investors and news broke that the firm might sell $50 billion to $100 billion of assets. One stumbling block to a solution has been the conflicting needs of US officials and the banks that might help. The regulators favor a private rescue that doesn’t involve the US seizing the bank and taking a multibillion-dollar hit to the FDIC’s insurance fund. Banks want to avoid anything that damages their own finances and have been waiting for the government to offer aid, such as the FDIC taking control of the firm’s least desirable assets — something that can happen under the law only if First Republic fails and is put into receivership. The stock price plunged 30% Wednesday, (it was up fiddy cents or 8.79% today) with the shares halted for volatility multiple times during the trading day.
https://www.bnnbloomberg.ca/first-republic-faces-potential-curb-on-borrowing-from-fed-1.1912645
https://finance.yahoo.com/quote/FRC
The big 6 banks (the ones who put $30B into this in March) don't care about the share price-they want to buy these assets at impaired prices so they will wait as this stock goes lower and lower ..then swoop in to buy the assets (and probably a bunch of warrants on the equity) but they have to put on a face while doing it but remember the house ALWAYS wins..this one isn't the house any longer
>>18761920, >>18761936, >>18763472 pb
45 in N757AF 757 departed Manchester, N.H. just after sunset and rally
C102 US Coast Guard went to Ottawa Int'l
FORGE94 US Army G5 left Daytona Beach Int'l