Seeking Alpha

Banks submit revised "living wills" to regulators

  • Those with assets greater than $250B were required to submit new plans this month for winding down operations in the event of another financial disaster.
  • The plans differ significantly, but all agree no bailout would be required.
  • The 11 banks submitting: BAC, BK, BCS, C, CS, DB, GS, JPM, STT, UBS.
  • Bank of America makes note of its sale of 20 non-core assets since 2009, and its excess cash and securities. Said securities, says the bank, can be quickly redeemed for cash, whether through outright sale or repo agreements (no haircut if the other 10 are trying to do the exact same thing?).
  • FDIC Press release.
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Comments (3)
  • minecanary
    , contributor
    Comments (647) | Send Message
     
    C'mon, I thought they would just write down 4,5 hundred trillion of derivatives (or bad loss reserves) at full value until the FED can get the presses running again
    3 Oct 2013, 11:29 PM Reply Like
  • BarkingShark
    , contributor
    Comments (12) | Send Message
     
    The presses have been running at full speed for some time now.... It's called QE 1. 2, 3, etc, and will continue for some time now. How heavy is that rock you're lying under?
    4 Oct 2013, 03:10 AM Reply Like
  • VOIP-COIP.com
    , contributor
    Comments (15) | Send Message
     
    The only recession proof business left in this collapsing economy is the manufacturers of FED printing presses, not bank stocks.
    4 Oct 2013, 08:47 AM Reply Like
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