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Cc挖土豆ya
Cc挖土豆ya
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2024-10-18
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Cc挖土豆ya
Cc挖土豆ya
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2023-03-13
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Prevent the reappearance of bank runs! Understand the new crisis tool taken out by the Federal Reserve: BTFP
“美联储看跌期权”归来?
Prevent the reappearance of bank runs! Understand the new crisis tool taken out by the Federal Reserve: BTFP
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Cc挖土豆ya
Cc挖土豆ya
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2022-08-05
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Cc挖土豆ya
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2022-08-05
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Understand the new crisis tool taken out by the Federal Reserve: BTFP","url":"https://stock-news.laohu8.com/highlight/detail?id=2319704017","media":"华尔街见闻","summary":"“美联储看跌期权”归来?","content":"<p><html><head></head><body>The \"Fed Put\" Return? The rapid loss of deposits and insufficient liquidity have triggered panic among depositors, and under the wave of runs<a href=\"https://laohu8.com/S/SIVB\">Silicon Valley Bank</a>Going to bankruptcy.</p><p><b>In order to prevent the spread of the crisis, the Federal Reserve urgently announced the $25 billion Bank Term Financing Program (BTFP) on March 12th, providing loans for up to one year to all U.S. federally insured depository institutions.</b></p><p>Specifically, the loan program will allow banks to borrow funds at a one-year overnight index swap rate plus 10 basis points by mortgaging U.S. Treasury Bond, mortgage-backed bonds and other debt to meet customers' withdrawal requirements without having to sell bonds at a loss.</p><p><img src=\"https://static.tigerbbs.com/164f694840a340e291007518ca50ae5e\" tg-width=\"668\" tg-height=\"585\" referrerpolicy=\"no-referrer\"/></p><p><b>According to the announcement of the Federal Reserve, the biggest advantage of this loan is that banks can borrow money equal to the face value of the collateral.</b>That means the Fed doesn't focus on the market value of collateral, which in many cases reflects large unrealized losses due to rising interest rates.</p><p>That's a surely lifesaver for banks in crisis, with unrealized losses across all U.S. banks' available-for-sale and held-to-maturity portfolios totaling $620 billion at the end of last year, according to the Federal Deposit Insurance Corp. (FDIC).</p><p><b>At the same time, the Federal Reserve will not require banks to pledge more than the collateral on their loans,</b>While typically banks require this when borrowing from Federal Home Loan Banks.<b>The Fed added that BTFP would be an additional source of liquidity for high-quality securities, eliminating the need for institutions to sell them quickly when under pressure.</b></p><p><b>What if the bank can't repay all the loans in one year? The Ministry of Finance will allocate $25 billion from the Foreign Exchange Stabilization Fund to back up the BTFP,</b>The Fed doesn't expect it to be necessary to use these support funds.</p><p>The U.S. Treasury Department, the Federal Reserve and the Federal Deposit Insurance Corporation issued a statement on Sunday saying that they should take decisive action to protect the U.S. economy by strengthening public confidence in the U.S. banking system. The board of directors of the FDIC and the Federal Reserve, and after consultation with the President and Treasury Secretary Yellen, approved allowing the FDIC to complete the liquidation of Silicon Valley Bank, and any losses related to the bankruptcy of Silicon Valley Bank will not be borne by taxpayers.</p><p>Last week, due to the rapid loss of customer deposits and the lack of liquid assets, Silicon Valley Bank was forced to sell U.S. debt to cash in on floating losses, and Silicon Valley Bank's admission of losses further exacerbated market concerns and triggered a \"fatal\" run that led to its bankruptcy. Risks immediately spread rapidly, with the second largest stablecoin issuer admitting that \"$3.3 billion was deposited in Silicon Valley Bank\" and USDC falling below the 1: 1 peg to the US dollar.</p><p></body></html></p>","source":"wallstreetcn_api","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Prevent the reappearance of bank runs! 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Understand the new crisis tool taken out by the Federal Reserve: BTFP\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2023-03-13 10:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>The \"Fed Put\" Return? The rapid loss of deposits and insufficient liquidity have triggered panic among depositors, and under the wave of runs<a href=\"https://laohu8.com/S/SIVB\">Silicon Valley Bank</a>Going to bankruptcy.</p><p><b>In order to prevent the spread of the crisis, the Federal Reserve urgently announced the $25 billion Bank Term Financing Program (BTFP) on March 12th, providing loans for up to one year to all U.S. federally insured depository institutions.</b></p><p>Specifically, the loan program will allow banks to borrow funds at a one-year overnight index swap rate plus 10 basis points by mortgaging U.S. Treasury Bond, mortgage-backed bonds and other debt to meet customers' withdrawal requirements without having to sell bonds at a loss.</p><p><img src=\"https://static.tigerbbs.com/164f694840a340e291007518ca50ae5e\" tg-width=\"668\" tg-height=\"585\" referrerpolicy=\"no-referrer\"/></p><p><b>According to the announcement of the Federal Reserve, the biggest advantage of this loan is that banks can borrow money equal to the face value of the collateral.</b>That means the Fed doesn't focus on the market value of collateral, which in many cases reflects large unrealized losses due to rising interest rates.</p><p>That's a surely lifesaver for banks in crisis, with unrealized losses across all U.S. banks' available-for-sale and held-to-maturity portfolios totaling $620 billion at the end of last year, according to the Federal Deposit Insurance Corp. (FDIC).</p><p><b>At the same time, the Federal Reserve will not require banks to pledge more than the collateral on their loans,</b>While typically banks require this when borrowing from Federal Home Loan Banks.<b>The Fed added that BTFP would be an additional source of liquidity for high-quality securities, eliminating the need for institutions to sell them quickly when under pressure.</b></p><p><b>What if the bank can't repay all the loans in one year? The Ministry of Finance will allocate $25 billion from the Foreign Exchange Stabilization Fund to back up the BTFP,</b>The Fed doesn't expect it to be necessary to use these support funds.</p><p>The U.S. Treasury Department, the Federal Reserve and the Federal Deposit Insurance Corporation issued a statement on Sunday saying that they should take decisive action to protect the U.S. economy by strengthening public confidence in the U.S. banking system. The board of directors of the FDIC and the Federal Reserve, and after consultation with the President and Treasury Secretary Yellen, approved allowing the FDIC to complete the liquidation of Silicon Valley Bank, and any losses related to the bankruptcy of Silicon Valley Bank will not be borne by taxpayers.</p><p>Last week, due to the rapid loss of customer deposits and the lack of liquid assets, Silicon Valley Bank was forced to sell U.S. debt to cash in on floating losses, and Silicon Valley Bank's admission of losses further exacerbated market concerns and triggered a \"fatal\" run that led to its bankruptcy. Risks immediately spread rapidly, with the second largest stablecoin issuer admitting that \"$3.3 billion was deposited in Silicon Valley Bank\" and USDC falling below the 1: 1 peg to the US dollar.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source:<a href=\"https://wallstreetcn.com/articles/3683855\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/19c07b2952ab13cb6cb1a9803e63ed19","relate_stocks":{"161125":"标普500","513500":"标普500ETF","IVV":"标普500ETF-iShares","SSO":"2倍做多标普500ETF-ProShares","QLD":"2倍做多纳斯达克100指数ETF-ProShares","BK4585":"ETF&股票定投概念","BK4534":"瑞士信贷持仓","DXD":"两倍做空道琼30指数ETF-ProShares",".IXIC":"NASDAQ Composite","DDM":"2倍做多道指ETF-ProShares","SPY":"标普500ETF","OEF":"标普100指数ETF-iShares","IAT":"安硕美国地区银行ETF","SDOW":"三倍做空道指30ETF-ProShares","DOG":"道指ETF-ProShares做空","TQQQ":"纳指三倍做多ETF","QID":"两倍做空纳斯达克指数ETF-ProShares","BK4559":"巴菲特持仓","SDS":"两倍做空标普500 ETF-ProShares","BK4504":"桥水持仓","BK4550":"红杉资本持仓","BK4588":"碎股","DJX":"1/100道琼斯","SQQQ":"纳指三倍做空ETF","PSQ":"做空纳斯达克100指数ETF-ProShares",".SPX":"S&P 500 Index","QQQ":"纳指100ETF","OEX":"标普100","UDOW":"三倍做多道指30ETF-ProShares","UPRO":"三倍做多标普500ETF-ProShares","BK4581":"高盛持仓","SPXU":"三倍做空标普500ETF-ProShares",".DJI":"道琼斯","SH":"做空标普500-Proshares"},"source_url":"https://wallstreetcn.com/articles/3683855","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2319704017","content_text":"“美联储看跌期权”归来?存款快速流失叠加流动性不足引发了储户恐慌,挤兑浪潮下硅谷银行走向破产。为了防止危机扩散,美联储紧急于3月12日宣布规模为250亿美元的银行定期融资计划(BTFP),向所有美国联邦保险存款机构提供最长一年的贷款。具体来看,该贷款计划将允许银行通过抵押美国国债、抵押贷款支持债券和其他债务,以一年期隔夜指数掉期利率加10个基点的利率借入资金来满足客户的取款要求,而不必亏本出售债券。根据美联储的公告,这项贷款的最大好处在于,银行可以借入与抵押物面值相等的资金。这意味着美联储不会关注抵押品的市场价值,在许多情况下抵押品反映了由于利率上升而导致的巨大未实现损失。这对陷入危机的银行来说无疑是救命稻草,根据联邦存款保险公司(FDIC)的数据,截至去年年底,所有美国银行的可供出售和持有至到期的投资组合的未实现亏损总计为6200亿美元。与此同时,美联储也不会要求银行质押超过其贷款的抵押品,而通常银行从联邦住房贷款银行贷款时会要求这一点。美联储补充称,BTFP将成为高质量证券的额外流动性来源,消除了机构在面临压力时快速出售这些证券的必要。如果银行不能在一年内偿还所有贷款呢?财政部将从外汇稳定基金中拨款250亿美元作为BTFP的后盾,美联储预计没有必要动用这些支持资金。美国财政部、美联储和联邦存款保险公司在周日发表声明称,采取果断立场行动,通过加强公众对美国银行系统的信心来保护美国经济。FDIC和美联储的董事会,并与总统和财长耶伦磋商后批准了允许FDIC完成对硅谷银行的清算行动,与硅谷银行破产有关的任何损失都不会由纳税人承担。上周,客户存款快速流失叠加流动性资产的不足,硅谷银行被迫抛售美债兑现浮亏,而硅谷银行认亏进一步加剧市场担忧,引发导致其破产的“致命”挤兑。风险随即快速蔓延,第二大稳定币发行商承认“33亿美元存入硅谷银行”,USDC跌破了与美元1:1的挂钩。","news_type":1,"symbols_score_info":{"161125":0.6,"513500":0.6,"QID":0.6,"UDOW":0.6,"SPY":1,"DOG":0.6,"PSQ":0.6,"SDS":0.6,"IVV":0.6,"QLD":0.6,"SPXU":0.6,"DXD":0.6,".DJI":1,"OEX":0.6,"SSO":0.6,"MNQmain":0.6,"OEF":0.6,"ESmain":0.6,".SPX":0.6,"DDM":0.6,"DJX":0.6,"SQQQ":0.6,".IXIC":1,"IAT":1,"UPRO":0.6,"TQQQ":0.6,"QQQ":0.6,"NQmain":0.6,"SH":0.6,"SDOW":0.6}},"isVote":1,"tweetType":1,"viewCount":1636,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9902692947,"gmtCreate":1659680694692,"gmtModify":1704969348259,"author":{"id":"4098955674648930","authorId":"4098955674648930","name":"Cc挖土豆ya","avatar":"https://static.tigerbbs.com/a6e0b6442fc80e2c68c8998f043ad6e9","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4098955674648930","authorIdStr":"4098955674648930"},"themes":[],"htmlText":"like today","listText":"like today","text":"like today","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9902692947","isVote":1,"tweetType":1,"viewCount":1762,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9902692064,"gmtCreate":1659680642160,"gmtModify":1704968819805,"author":{"id":"4098955674648930","authorId":"4098955674648930","name":"Cc挖土豆ya","avatar":"https://static.tigerbbs.com/a6e0b6442fc80e2c68c8998f043ad6e9","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4098955674648930","authorIdStr":"4098955674648930"},"themes":[],"htmlText":"niceday ","listText":"niceday ","text":"niceday","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9902692064","isVote":1,"tweetType":1,"viewCount":1644,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":true}