dChan
Anonymous ID: 489e24 April 28, 2023, 5:41 p.m. No.18768963   🗄️.is 🔗kun   >>9181 >>9317 >>9515 >>9538

First Republic Bank/FDIC official announcement coming on Sunday

 

It is past closing time on the West Coast (SF) where First Republic Bank has it's Corporate office and there is nothing official on the FDIC website as of right now.

 

They will spend tonight, tomorrow and part of Sunday (signing it then) making the deal by carving up all the assets and deciding what will be "good" and at what price (impaired and a screaming deal for the banks that put the $30B into it) and then what goes into the "bad" part of the bank-on the NYFRB programs (discount window) or the Exchange Stabilization Fund-run by US Treasury which is the Bank Term Funding Facility.

 

This impaired asset sale will almost certainly include it's prime Corp. location in SF (111 Pine Street-cap #2) which is 750,000 square feet and spreads across two blocks in D'Town SF

 

Expect an announcement just before Futures open for trading on Sunday-they did the same exact thing with Silicon Valley Bank and that will be used to juice it up and into the FOMC announcement that comes on Weds-they will raise 25bp and may or may not change the language about further ones but they are d-o-n-e after that as they need to get this recession "over" before election season begins in earnest.

Goldman Sachs already saying the fallout from FRC will be contained in muh bond market-and likely it will because they will "make it so" but it shouldn't and this is where they never have any consequences and continue to apply the concept of Moral Hazard (look it up if you don't know) as every last one of these banks are in this same position with US T notes that have dropped in value as they were loaded up at almost Zero Interest Rates-go ask Japan how that is werking out….the BoJ owns almost 60% of all of it's Gov't issued debt and about 75-80% of all equities in it's stock markets

 

>>18768091 First Republic Bank to be taken over by FDIC: Report