With the imminent expiration of The Fed’s bank bailout facility (reminder they were 12-month collateralized term loans), and the ongoiong liquidity suck from The Fed’s reverse repo facility, the last two weeks’ excitement over at NYCB again is sure to have seen some depositors questioning their decisions (but we won’t know about that for a couple of weeks as The Fed needs time to ‘manage’ the data).
It turns out no… as The Fed claims that – on a seasonally-adjusted basis – total deposits rose by $16BN last week… Source: Bloomberg Source: Bloomberg
And while we question what a “seasonally-adjusted deposit” actually is, un-adjusted deposits rose by an even more impressive $86BN last week to the highest in six weeks… Source: Bloomberg But, things get a little more complicated when we remove foreign bank deposits, as while non-seasonally-adjusted deposits rose $61BN (large banks +$35BN, small banks +$26BN), seasonally-adjusted domestic bank […]
Read the Whole Article From the Source: www.zerohedge.com
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