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’The insecurity of the unsecured creditor
How do you solve the problem of excessive risk-taking and systemic risk?
FDIC chairman Sheila Bair had an idea back in October:
ISTANBUL (Reuters) – Ensuring secured creditors face losses when a financial institution fails could help rein in excessive risk-taking and strengthen the financial system,
Those money-losing FHLBs
FT Alphaville has maintained a somewhat skeptical stance as far as the 12 Federal Home Loan Banks (FHLBs) are concerned. The FHLBs are major sources of funding for a slew of US financial companies, as Bloomberg pointed out on Friday:
FHLBs, you shan’t go to the securitisation ball
That’s the Federal Home Loan Banks, the 12 regional US government-sponsored enterprises charged with providing loans to some 8,000 member banks.
The FHLBs have gained some prominence in the recent financial crisis,
FHLB, the ‘B’ stands for Bowsher
Charles Bowsher is a name you probably don’t know.
Until March 24 he worked as chairman of the Federal Home Loan Banks’ (FHLBs) Office of Finance. Then he suddenly quit. Why?
Bloomberg’s Jonathan Weil reports (HT Zero Hedge):
FHLB, the ‘L’ stands for Libor
Well, no, not really, but there is a connection.
Dollar Libor continued its upward drive for a fourth day today — the longest run of rising rates since early October and interestingly, the upward tick may have something to do with the US’s Federal Home Loan Banks,
Fannie, Freddie, now FHLBs?
Some other banks are encountering difficulties today — namely the Federal Home Loan Banks, one of the biggest providers of funding for US mortgages.
From Bloomberg:
The Federal Home Loan Bank of Seattle said it will suspend dividends and “excess”
For FHLB’s sake
FHLB.
Free Hubris Loans for Banks.
Find Huge Lumps of Bucks.
Or, simply, the Federal Home Loan Banks, one of the biggest providers of funding for US mortgages — and it may be in trouble. From Bloomberg:
US-backed banks to fill monoline breach
The Federal Home Loan Banking system, a government-sponsored network of US banks, is seeking to enter the “monoline” bond insurance market to help local governments hurt by the credit market storm obtain credit guarantees – and thus raise funds.