Banking failure

[TOM4CWB]

US Fed dumps more currency into banks than 2008 crisis:



The US Fed May be forced to pause interest rate hikes… “for now “

Gold over $2000….

ATB and Alberta Credit Union deposits are 100% Alberta Government backed… I was reading other provincial governments have different Credit Union backing levels… some at $250,000.

Cheers

[biglentil]

The London Metal exchange had rocks in inventory instead of Nickel, but the gold inventory at Fort Knox that has not been audited since 1950 is still in Fort Knox.

[TASFarms]

When 4 banks fail it’s a financial crisis. But it’s not
Inflation is just transitory.
Bank bail out is not a bail out. Is QE 5 going to cause more inflation?
Every bank in NorthAmerica is planning on lots of loan defaults.

[Old Cowzilla]

US Fed dumps more currency into banks than 2008 crisis:



The US Fed May be forced to pause interest rate hikes… “for now “

Gold over $2000….

ATB and Alberta Credit Union deposits are 100% Alberta Government backed… I was reading other provincial governments have different Credit Union backing levels… some at $250,000.

Cheers

Our Credit Union still can't find the $500,000.00 that vanished from our local RM account and the Ins. company refuses to cover the loss. With crap like that and a world FULL of junk bonds no wonder some people still use cream cans.

[Guest]

Our Credit Union still can't find the $500,000.00 that vanished from our local RM account and the Ins. company refuses to cover the loss. With crap like that and a world FULL of junk bonds no wonder some people still use cream cans.

Is this true ??

[Old Cowzilla]

Is this true ??

Yes RM of WESTLAKE-GLADSTONE It was in the news another RM to the northwest of us lost funds also through a Credit Union account but I do not know of the details. Maybe just strange coincidence.

[TSIPP]

I did read some of the long winded article, cyberattack during Christmas break with 47 different withdrawals around 10 thousand each, it took counsel 9 months to report it to the ratepayers, sounds like an inside job to me.

[LEP]

I think it happened in Saskatchewan as well. The one in Saskatchewan was related to the payroll account.

City of Saskatoon had a problem with accounts payable. They had an email come asking to change the payment instructions for a major contractor. $1.5 million there.

It comes down to an administration ****up.

[errolanderson]

Media Release: The recent collapse of Silicon Valley Bank has brought regional banks in the U.S. into turmoil and has threatened one of Canada’s biggest bank mergers. TD Bank agreed to buy Tennessee-based First Horizon Bank in late 2022 for US$13.4 billion, but its stock has sunk more than 20% since SVB’s failure. As The Globe and Mail reports, this has complicated the deal in several ways, affecting the potential regulatory framework and opening the possibility of renegotiating the agreement.

Weren't we just assured that Cdn banks had little exposure to SVB fallout?

[flea beetle]

Media Release: The recent collapse of Silicon Valley Bank has brought regional banks in the U.S. into turmoil and has threatened one of Canada’s biggest bank mergers. TD Bank agreed to buy Tennessee-based First Horizon Bank in late 2022 for US$13.4 billion, but its stock has sunk more than 20% since SVB’s failure. As The Globe and Mail reports, this has complicated the deal in several ways, affecting the potential regulatory framework and opening the possibility of renegotiating the agreement.

Weren't we just assured that Cdn banks had little exposure to SVB fallout?

I have no sympathy for TD. They are the first pushing the digital currency bullshit. Let them tumble.