Commentaries

from Rolfe Winkler:

Morning Links 1-22

January 22, 2010

Geithner has reservations on US banks (Wutkowski/Eder, Reuters) More evidence that Geithner is a goner. Will Volcker replace him? Sheila Bair could be a dark horse. She has lots of Democratic fans on the Hill despite being appointed by a Republican. In any case, Geithner was on PBS last night defending the plan.

from Rolfe Winkler:

Deposit Insurance Fund, UNoffcially

December 18, 2009

I was heading out for Thanksgiving vacation when FDIC released the quarterly banking profile, so I wasn't able to update an important chart: Total Insured Deposits, Unofficially.....

from Rolfe Winkler:

Big banks get reprieve from FDIC

December 15, 2009

Due to new accounting rules -- FAS 166 and 167 -- banks have to bring certain off balance sheet assets back onto their balance sheets starting next year. More assets, same capital = lower capital ratios. (More in this column about the individual impact on the large banks).

from Rolfe Winkler:

Politics and bank regulation don’t mix

December 8, 2009

The Federal Deposit Insurance Corp tried to seize and sell Cleveland thrift AmTrust last January but local politicians intervened. In the end, the bank still went bust 11 months later - a delay that may have increased losses to the U.S. regulator’s funds. As Congress debates banking reform, AmTrust provides a useful warning that the regulatory apparatus needs to be kept free from politics.

from Rolfe Winkler:

FDIC’s problem bank list grows to 552, DIF now negative

November 24, 2009

I'm not good at taking vacations....

FDIC published its quarterly banking profile today. Here are the latest banking industry statistics at a glance. A few interesting takeaways I'd like to highlight. First, the problem bank list grew again. And it still understates total problem assets...both Citi and Bank of American should also be on this list.

from Rolfe Winkler:

Sheila throws GMAC a bone

October 28, 2009

GMAC sold more FDIC-backed debt today... (Reuters)

General Motors Acceptance Corp on Wednesday sold $2.9 billion in three-year government-guaranteed notes, according to a market source familiar with the sale. The 1.75 percent notes were priced at 99.991 to yield 1.753 percent, or 31.6 basis points over comparable U.S. Treasuries.

from Rolfe Winkler:

#100….and counting (+ charts)

October 23, 2009

Another failure in Georgia. And two in Naples.

#100

    Failed bank: Partners Bank, Naples FL Acquiring bank: Stonegate Bank, Ft. Lauderdale FL Vitals: as of 9/30, assets of $66 million, deposits of $65m DIF damage: $28.6m

#101

from Rolfe Winkler:

Bank failure Friday

October 2, 2009

Later this evening, I'll have a post on stats for all failed banks since the beginning of 2007. In the meantime, we have our first failure of Q4:

Sheila Bair and the black marker

October 2, 2009

The other day I wrote a column about a series of meetings FDIC Chairwoman Sheila Bair had this summer with Citi Chairman Dick Parsons. The column was based on entries in Bair’s datebook, a copy of which the FDIC turned over to me in response to a FOIA request.

The other GSE problem

September 23, 2009

It’s hard to keep all the U.S. housing agencies straight. Fannie Mae and Freddie Mac are still basket cases relying on government support, while the Federal Housing Administration and its partner, Ginnie Mae, are setting off alarm bells with their more aggressive efforts to support overstretched homeowners.