In light of the banking failures of Silicon Valley Bank, Signature Bank and First Republic (as well as Credit Suisse), this summer, the Federal Reserve and the FDIC proposed guidance and rules for larger banks to (i) develop...more
11/7/2023
/ Bankruptcy Code ,
Bankruptcy Court ,
Capital Requirements ,
Chapter 11 ,
Chapter 7 ,
Collateral ,
Debtors ,
FDIC ,
Federal Reserve ,
Insolvency ,
Lehman Brothers ,
Liquidation ,
Liquidity ,
Repurchase Agreements ,
Risk Mitigation ,
Secured Debt ,
SIPA ,
Unsecured Debt
Based upon the records of the New York Fed and the Federal Reserve Economic Data (FRED) of the St. Louis Fed, the level of reverse repo activity on June 17th -18th reached unprecedented levels.
It was previously reported...more
It was previously reported that there were significant repurchase agreement (repo) disruptions with consequent disruptions in the Secured Overnight Financing Rate (SOFR).
Explained -
During the market turmoil...more
Financial institutions should work with outside counsel to ensure that their internal policies and external actions minimize conduct that may violate state and Federal laws and regulations, and incentivize employees to reward...more
12/3/2020
/ Affordable Housing ,
Antitrust Conspiracies ,
Breach of Contract ,
Class Action ,
Collusion ,
Department of Justice (DOJ) ,
Fannie Mae ,
Fiduciary Duty ,
Financial Institutions ,
Freddie Mac ,
Interest Rate Swaps ,
Internal Revenue Code (IRC) ,
Liquidity ,
Motion to Dismiss ,
New York ,
Popular ,
Price-Fixing ,
Securities and Exchange Commission (SEC) ,
Statute of Limitations ,
Tax Revenues ,
U.S. Treasury ,
Unjust Enrichment ,
Variable Rates ,
Whistleblowers
In order to deal with the tremendous recent market disruptions and related liquidity needs, the Federal Reserve System, through the Federal Reserve Bank of New York (New York Fed), on March 12 offered $500 billion in 3-month...more
Last week, most observers focused on the more than 11% drop in the stock market due to public health and related supply concerns. In response, the Federal Reserve made an aggressive 50 basis point interest rate cut on March...more
Fed Liquidity – Recent Actual Infusions (1Q 2020) -
Week of February 3rd -
As recently reported, during the week of February 3rd, the New York Fed infused, through the repo market, an aggregate of $112.3 billion with...more
Previous Repos -
In the last Client Alert, it was reported that the New York Fed recently infused approximately $220 billion into the banking system – $70 billion of overnight repos and $150 billion in term repos....more
12/30/2019
/ Banking Sector ,
CFTC ,
Enforcement Actions ,
Federal Reserve ,
FOMC ,
Interest Rates ,
Libor ,
Liquidity ,
Market Manipulation ,
Secured Overnight Funding Rate (SOFR) ,
Swaps