the staff of the Ridgewood blog
Ridgewood NJ, the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank are today announcing a coordinated action to enhance the provision of liquidity via the standing U.S. dollar liquidity swap line arrangements.
To improve the swap lines’ effectiveness in providing U.S. dollar funding, the central banks currently offering U.S. dollar operations have agreed to increase the frequency of 7-day maturity operations from weekly to daily. These daily operations will commence on Monday, March 20, 2023, and will continue at least through the end of April.
The network of swap lines among these central banks is a set of available standing facilities and serve as an important liquidity backstop to ease strains in global funding markets, thereby helping to mitigate the effects of such strains on the supply of credit to households and businesses.
The failure of the U.S Congress back in 2008 to re-instate Glass/Steagall as the only competent regulatory basis for a sound basis for national banking, is why we are faced with an even worse global banking systemic failure. When the Congress was bullied into overriding the opposition of the American people to Bank Bailouts, the present-day crisis was guaranteed. This was in effect a “Global Regime Change” to have a Central Banker’s control of all governments policies that only a “Green Agenda” be carried out, like Biden announcing that pension funds must use their funds in lock-step with that Green policy. Without a sound principle of banking being used to invest in manufacturing, agriculture, and other “growth areas” of national importance, then there is no “true value” to any nations currency. The opposition to China, Russia, or any other nations “independence” from the Banker’s Green Agenda”, is what boils down to why they are labelled “our enemies”.
this is a word salad of things unrelated to SVB.
So glad “The State” is taking over the banking system.
Nothing bad could personally impact me because of this…
Yeah, they should be left alone and unregulated, because that’s been working out so well.
blaming deregulation is just admitting that the bankers were totally incompetent and misguided by their “woke” ideology
Yeah, keep trying to call bankers “woke”.
It’s totally working, and no one is laughing at you, I swear.
Incompetence, sure. Greedy and corrupt, yes.
that’s the definition of WOKE = stupid and greedy
Had no idea woke and capitalist were synonyms.
they are not they are the antithesis
Cool.
Now explain
“woke bank”.
failing and being bailed out and taken over
embarrassing
lol
I believe “woke” bankers are those not focusing on banking, but concern themselves with diversity hiring and climate change issuses. Bankers need to mind their store and regulators need to look over the bankers shoulders.
agreed
Regulations are, by definition, anti-free market laissez-faire….
but when you play you have some ground rules
Welcome to the revolution, comrade.
We go bowling on tuesdays.
Only took a few hours to go from “don’t blame deregulation to arguing in favor of regulation.
Well done.
nice try , ever heard of the buttonwood agreement
When the Fed Funds rate was taken from 1% to 5% in just about a year, bank failures were on their way regardless of any regulations. The US banks which fell and are in the most trouble are in the markets in which real estate has fallen the most. This will be worse that 2008.