Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Remember IMO this is our money in at least p,s The rest should go to u’s from thr FDIC. Do not despair, we are getting to the end. The lawyers are heading for the hills.
We are offering 2,500,000 depositary shares, each representing a one-tenth interest in a share of our perpetual 6.875% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series NN, $1 par value, with a liquidation preference of $10,000 per share (equivalent to $1,000 per depositary share) (the “Preferred Stock”). Each depositary share entitles the holder, through the depositary, to a proportional fractional interest in all rights, powers and preferences of the Preferred Stock represented by the depositary share.
We will pay dividends on the Preferred Stock, when, as, and if declared by our board of directors or a duly authorized committee of our board, quarterly in arrears, on March 1, June 1, September 1 and December 1 of each year, beginning on June 1, 2024. From the original issue date to, but excluding, June 1, 2029, we will pay dividends when, as, and if declared by our board or such committee at a rate of 6.875% per annum, beginning on June 1, 2024. From and including June 1, 2029, for each reset period (as described in this prospectus supplement), we will pay dividends when, as, and if declared by our board or such committee at a rate equal to a five-year treasury rate (as described in this prospectus supplement) as of the most recent reset dividend determination date (as described in this prospectus supplement) plus a spread of 2.737% per annum, beginning on September 1, 2029. Dividends on the Preferred Stock will not be cumulative. Upon the payment of any dividends on the Preferred Stock, holders of depositary shares will receive a related proportionate payment.
We may redeem the Preferred Stock on any dividend payment date on or after June 1, 2029, in whole at any time or from time to time in part, at a redemption price equal to $10,000 per share (equivalent to $1,000 per depositary share), plus any declared and unpaid dividends, without accumulation of any undeclared dividends. We may also redeem the Preferred Stock after a capital treatment event (as described in this prospectus supplement), subject to regulatory approval. If we redeem any Preferred Stock, the depositary will redeem the related depositary shares.
https://www.sec.gov/.../00011931252406.../d745782dfwp.htm.
August 22 ·
PG. 30
(h) Release of JPMC Escrow Account, Washington Mutual Escrow Account and FDIC Escrow Account. (i) JPMC, WMI and the FDIC Receiver shall jointly direct the custodian of the JPMC Escrow Account, the Washington Mutual Escrow Account and the FDIC Escrow Account to release all or a portion of the JPMC Escrow Account, the Washington Mutual Escrow Account and the FDIC Escrow Account as the case may be, to JPMC, WMI and the FDIC Receiver, respectively, as soon as is practicable after the earlier to occur of: (A) the date on which all Pre-2009 Group Tax Liabilities are finally determined and paid and the final amount of Net Tax Refunds Received has been determined and is not subject to change; and (B) the date on which JPMC (with respect to the Washington Mutual Escrow Account), WMI (with respect to the JPMC Escrow Account), or JPMC and WMI jointly (with respect to the FDIC Escrow Account), consents, in writing, to permit the release of all or such agreed portion of the JPMC Escrow Account, the Washington Mutual Escrow Account or the FDIC Escrow Account, as applicable (such consent, in each case, not to be unreasonably withheld or delayed); provided, however, that there shall be released from each escrow account at least quarterly (on or prior to each March 1, June 1, September 1 and December 1) fifty percent (50%) of all amounts earned by such escrow account with respect to assets held therein.
Fdic.govwww.fdic.gov/system/files/2024-07/wamu-global-settlement-agreement.pdf
Second Amended and Restated Settlement Agreement - FDIC📷
settlement does not deplete the assets or increase the liabilities associated with the WaMu ... International Service Association, VISA, Inc., and the ...
The lawyers are leaving Go settlement
412309/19/2024MOTION for Richard M. Heimann, Steven E. Fineman, Eric B. Fastiff, Brendan P. Glackin, Michael J. Miarmi, and Andrew R. Kaufman to Withdraw as Attorney. Document filed by Bay Area Toll Authority, Charles Schwab & Co., Inc., Charles Schwab Bank, N.A., Charles Schwab Worldwide Funds PLC, Schwab Investments, The Charles Schwab Corporation, The Charles Schwab Family of Funds. Filed In Associated Cases: 1:11-md-02262-NRB et al.
1Affidavit of Richard M. Heimann (Declaration)
2Affidavit of Steven E. Fineman (Declaration)
3Affidavit of Eric B. Fastiff (Declaration)
4Affidavit of Brendan P. Glackin (Declaration)
5Affidavit of Michael J. Miarmi (Declaration)
6Affidavit of Andrew R. Kaufman (Declaration)
7Proposed Order Granting Motion to Withdraw as Counsel of Record
distr.
“My Prediction has not changed in the past several years. Naysayers want to discredit me with setting up the wrong dates . That will not stop the inevitable., whatever the Date.
Cash payment first for P' and Qs : April 26th dd = GS sec filing
As of December 31, 2020, we have 29,999,400 depositary shares, each representing a 1/1,000th ownership interest in a share of our Series A Preferred Stock, with an aggregate liquidation preference of $749,985,000, 8,000,000 depositary shares, each representing a 1/1,000th ownership interest in a share of our Series C Preferred Stock, with an aggregate liquidation preference of $200,000,000, 53,999,000 depositary shares, each representing a 1/1,000th ownership interest in a share of our Series D Preferred Stock, with an aggregate liquidation preference of $1,349,975,000, 7,667 shares of our Series E Preferred Stock, with an aggregate liquidation preference of $766,748,000, 1,615 shares of our Series F Preferred Stock, with an aggregate liquidation preference of $161,504,000, 40,000,000 depositary shares, each representing a 1/1,000th ownership interest in a share of our Series J Preferred Stock, with an aggregate liquidation preference of $1,000,000,000, 28,000,000 depositary shares, each representing a 1/1,000th ownership interest in a share of our Series K Preferred Stock, with an aggregate liquidation preference of $700,000,000, 2,000,000 depositary shares, each representing a 1/25th ownership interest in a share of our Series M Preferred Stock, with an aggregate liquidation preference of $2,000,000,000, 27,000,000 depositary shares, each representing a 1/1,000th ownership interest in a share of our Series N Preferred Stock, with an aggregate liquidation preference of $675,000,000, 650,000 depositary shares, each representing a 1/25th ownership interest in a share of our Series O Preferred Stock, with an aggregate liquidation preference of $650,000,000, 1,500,000 depositary shares, each representing a 1/25th ownership interest in a share of our Series P Preferred Stock, with an aggregate liquidation preference of $1,500,000,000, 500,000 depositary shares, each representing a 1/25th ownership interest in a share of our Series Q Preferred Stock, with an aggregate liquidation preference of $500,000,000, 600,000 depositary shares, each representing 1/25th ownership interest in a share of our Series R Preferred Stock, with an aggregate liquidation preference of $600,000,000, issued and outstanding, and 350,000 depositary shares, each representing 1/25th ownership interest in a share of our Series S Preferred Stock, with an aggregate liquidation preference of $350,000,000. On February 5, 2021 we redeemed all outstanding shares of our Series M Preferred Stock.
The Series A Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock, Series F Preferred Stock, Series J Preferred Stock, Series K Preferred Stock, Series N Preferred Stock, Series O Preferred Stock, Series P Preferred Stock, Series Q Preferred Stock, Series R Preferred Stock and Series S Preferred Stock rank equally with the Series T Preferred Stock as to dividends and distributions on liquidation and include the same provisions with respect to restrictions on declaration and payment of dividends and voting rights as apply to the Series T Preferred Stock.
Holders of Series A Preferred Stock are entitled to receive quarterly dividends when, as and if declared by our board of directors (or a duly authorized committee of the board), at a rate per annum equal to the greater of (1) 0.75% above LIBOR on the related LIBOR determination date and (2) 3.75%. Holders of Series C Preferred Stock are entitled to receive quarterly dividends when, as and if declared by our board of directors (or a duly authorized committee of the board), at a rate per annum equal to the greater of (1) 0.75% above LIBOR on the related LIBOR determination date and (2)
S-15
https://www.sec.gov/.../000119312521.../d275909d424b2.htm...
https://www.sec.gov/.../000119312521.../d142285d424b2.htm...
(1)
The initial public offering price set forth above does not include accrued dividends, if any, that may be declared. Dividends, if declared, will accrue from the date of original issuance, expected to be April 26, 2021.
(2)
An underwriting discount of $10.00 per depositary share (or up to $6,750,000.00 for all depositary shares) will be deducted from the proceeds paid to us by the underwriters.
The underwriters expect to deliver the depositary shares in book-entry form only, through the facilities of The Depository Trust Company, against payment on or about April 26, 2021.
Stock Issue for COOP April 29th
COOP Conference call and discussion of 1st Quarter
DALLAS--(BUSINESS WIRE)--Mr. Cooper Group Inc. (NASDAQ: COOP) will discuss its financial results for the first quarter 2021 on Thursday, April 29, 2021 at 10:00 A.M. Eastern Time
https://www.businesswire.com/.../Mr.-Cooper-Group-Inc.-to...
SEC.GOV
424B2
In all of the confusion do not miss this post . This alone will take care of P's and then some. 1000 shares at 10,000 per share.= 10 m
We are offering 2,500,000 depositary shares, each representing a one-tenth interest in a share of our perpetual 6.875% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series NN, $1 par value, with a liquidation preference of $10,000 per share (equivalent to $1,000 per depositary share) (the “Preferred Stock”). Each depositary share entitles the holder, through the depositary, to a proportional fractional interest in all rights, powers and preferences of the Preferred Stock represented by the depositary share.
We will pay dividends on the Preferred Stock, when, as, and if declared by our board of directors or a duly authorized committee of our board, quarterly in arrears, on March 1, June 1, September 1 and December 1 of each year, beginning on June 1, 2024. From the original issue date to, but excluding, June 1, 2029, we will pay dividends when, as, and if declared by our board or such committee at a rate of 6.875% per annum, beginning on June 1, 2024. From and including June 1, 2029, for each reset period (as described in this prospectus supplement), we will pay dividends when, as, and if declared by our board or such committee at a rate equal to a five-year treasury rate (as described in this prospectus supplement) as of the most recent reset dividend determination date (as described in this prospectus supplement) plus a spread of 2.737% per annum, beginning on September 1, 2029. Dividends on the Preferred Stock will not be cumulative. Upon the payment of any dividends on the Preferred Stock, holders of depositary shares will receive a related proportionate payment.
We may redeem the Preferred Stock on any dividend payment date on or after June 1, 2029, in whole at any time or from time to time in part, at a redemption price equal to $10,000 per share (equivalent to $1,000 per depositary share), plus any declared and unpaid dividends, without accumulation of any undeclared dividends. We may also redeem the Preferred Stock after a capital treatment event (as described in this prospectus supplement), subject to regulatory approval. If we redeem any Preferred Stock, the depositary will redeem the related depositary shares.
https://www.sec.gov/.../00011931252406.../d745782dfwp.
Royal Dude
Re: Royal Dude post# 734368
Thursday, September 19, 2024 4:27:27 PM
Post# of 734369 Go
PRESS RELEASE | SEPTEMBER 5, 2024
FDIC-INSURED INSTITUTIONS REPORTED NET INCOME OF $71.5 BILLION
Net Income Increased From the Prior Quarter, Driven By Lower Noninterest Expense and One-Time Gains
Community Bank Net Income Increased Quarter Over Quarter
The Net Interest Margin Declined Slightly, Driven by the Largest Banks
Domestic Deposits Decreased From the Prior Quarter
Asset Quality Metrics Remained Generally Favorable, Though Charge-Offs Increased
Loan Balances Increased Modestly From the Prior Quarter and a Year Ago
The Deposit Insurance Fund Reserve Ratio Increased Four Basis Points to 1.21 Percent
Quarterly Banking Profile - Quarterly Net Income“The banking industry continued to show resilience in the second quarter. Net income increased and asset quality metrics remained generally favorable. However, the banking industry still faces significant downside risks from uncertainty in the economic outlook, market interest rates, and geopolitical events. In addition, weakness in certain loan portfolios, particularly office properties, credit cards, and multifamily loans, continues to warrant monitoring.”— FDIC Chairman Martin J. Gruenberg______________________________________________________________WASHINGTON— Reports from 4,539 commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported aggregate net income of $71.5 billion in second quarter 2024, an increase of $7.3 billion (11.4 percent) from the prior quarter. A decline in noninterest expense and one-time gains on equity security transactions contributed to the quarterly increase. These and other financial results for second quarter 2024 are included in the FDIC’s latest Quarterly Banking Profile released today.
The Industry’s Net Income Increased From the Prior Quarter, Driven By Lower Noninterest Expense and One-Time Gains: Second quarter net income for the 4,539 FDIC-insured commercial banks and savings institutions increased $7.3 billion (11.4 percent) from the prior quarter to $71.5 billion. A decline in noninterest expense (down $3.6 billion, or 2.4 percent) along with higher noninterest income (up $1.2 billion, or 1.5 percent) and higher gains on the sale of securities (up $937 million) were the primary factors driving the increase in net income. Higher provision expenses offset some of the increase in net income.
The quarterly increase in net income was largely driven by nonrecurring items including an estimated $4 billion reduction in reported expense related to the FDIC special assessment, approximately $10 billion in gains on equity security transactions by large banks, and the sale of an institution’s insurance division that resulted in an after-tax $4.9 billion gain.[1] These increases were partially offset by several large banks selling bond portfolios at a loss and a $2.7 billion increase in provision expense.
The banking industry reported an aggregate return-on-assets ratio (ROA) of 1.20 percent in second quarter 2024, up 12 basis points from first quarter 2024 but down one basis point from first quarter 2023.
Community Bank Net Income Increased Quarter Over Quarter: Quarterly net income for the 4,104 community banks insured by the FDIC was $6.4 billion in the second quarter, an increase of $72.6 million (1.1 percent) from first quarter 2024. Higher net interest income (up $546.4 million, or 2.7 percent) and higher noninterest income (up $253.9 million, or 5.0 percent) more than offset higher noninterest expense (up $365.7 million, or 2.1 percent) and higher provision expenses (up $140.5 million, or 18.2 percent). The community bank pretax ROA increased one basis point from last quarter to 1.14 percent.
The Net Interest Margin Declined Slightly, Driven by the Largest Banks: The industry’s net interest margin (NIM) declined one basis point to 3.16 percent in the second quarter as the growth in funding costs slightly exceeded the growth in earning-asset yields. The industry’s second quarter NIM was nine basis points below the pre-pandemic average NIM after falling below that level last quarter.[2] The NIM increased quarter over quarter for all size groups except for the largest banks, those with assets over $250 billion, who in aggregate reported a four basis-point decline in the NIM. The community bank NIM of 3.30 percent increased seven basis points quarter over quarter, reversing a five-quarter declining trend, but was still 33 basis points lower than the pre-pandemic average.
Asset Quality Metrics Remained Generally Favorable, Though Charge-Offs Increased: Noncurrent loans, or loans that are 90 days or more past due or in nonaccrual status, remained unchanged from the prior quarter at 0.91 percent of total loans and well below the pre-pandemic average of 1.28 percent. Despite the stability in overall noncurrent loans, the noncurrent rate for non-owner occupied commercial real estate loans of 1.77 percent was at its highest level since third quarter 2013, driven by office portfolios at the largest banks. However, these banks tend to have lower concentrations of such loans in relation to total assets and capital than smaller institutions, mitigating the overall risk.
The industry’s net charge-off rate increased three basis points to 0.68 percent from the prior quarter and was 20 basis points higher than the year-ago quarter. This ratio was also 20 basis points above the pre-pandemic average and remained the highest quarterly rate reported by the industry since second quarter 2013. The credit card net charge-off rate was 4.82 percent in the second quarter, up 13 basis points quarter over quarter and the highest rate reported since third quarter 2011.
Loan Balances Increased Modestly From the Prior Quarter and a Year Ago: Total loan and lease balances increased $125.8 billion (1.0 percent) from the previous quarter. The increase was driven by higher loans to nondepository financial institutions (NDFIs) (up $76.0 billion, or 9.6 percent) and consumer loans (up $25.8 billion, or 1.2 percent). Much of the growth in NDFI lending appears to be due to reclassification from other existing loan categories. The majority of banks (75.1 percent) reported quarterly loan growth, and all major loan categories except construction and development loans showed quarter-over-quarter growth.
Total loan and lease balances increased by $244.5 billion (2.0 percent) from the prior year. The annual increase was also led by loans to NDFIs (up $77.5 billion, or 9.8 percent), likely due to reclassifications in the second quarter, as well as credit card loans (up $77.0 billion, or 7.5 percent) and adjustable rate 1-4 family residential mortgage loans (up $69.3 billion, or 7.5 percent). A large majority of banks (82.9 percent) reported annual loan growth.
Community banks reported a 1.7 percent increase in loan and lease balances from the previous quarter and a 6.3 percent increase from the prior year. Growth in nonfarm, nonresidential CRE loans and 1-4 family residential mortgage loans drove both the quarterly and annual increases in loan and lease balances. Loan growth was broad based across community banks with over three quarters of such banks reporting higher loan balances from the prior quarter.
Domestic Deposits Decreased From the Prior Quarter: Domestic deposits decreased $197.7 billion (1.1 percent) from first quarter 2024, well below the pre-pandemic average second-quarter growth of 0.2 percent. Both savings and transaction deposits declined from the prior quarter, with growth in small time deposits partially offsetting the declines. Brokered deposits decreased for the second straight quarter, down $10.1 billion (0.8 percent) from the prior quarter. Banks with over $250 billion in assets drove the quarterly decline in deposits.
Estimated insured deposits decreased $96.0 billion (0.9 percent) and estimated uninsured domestic deposits decreased $50.4 billion (0.7 percent) during the quarter. Banks with assets greater than $250 billion reported lower uninsured deposits in the second quarter, while banks with assets less than $250 billion reported higher uninsured deposit levels.
The Deposit Insurance Fund Reserve Ratio Increased Four Basis Points to 1.21 Percent: In the second quarter, the Deposit Insurance Fund (DIF) balance increased $3.9 billion to $129.2 billion. The reserve ratio increased four basis points during the quarter to 1.21 percent.
The Total Number of Insured Institutions Declined: The total number of FDIC-insured institutions declined by 29 during the quarter to 4,539. Three banks were sold to credit unions and 26 institutions merged with other banks during the quarter. One bank failed in the second quarter but did not file a call report in the first quarter, and no banks opened.
# # #
ATTACHMENTS:
Quarterly Banking Profile Home Page (includes previous reports and press conference webcast videos)
Charts and Data
Chairman Gruenberg’s Press Statement
MEDIA CONTACT:
Julianne Breitbeil
202-340-2043
JBreitbeil@FDIC.gov
FDIC: PR-76-2024
https://seekingalpha.com/article/4720233-jpmorgan-chase-and-co-jpm-barclays-global-financial-services-conference-2024-transcript#hasComeFromMpArticle=true
JPM way of keeping it sticky. Look at the 92B net From First Republic
Royal
Probably in the fine print. I was pushing for June 1, as being "the beginning" and then Septmber 1st and now October 22nd. - January 22? Time is money and they know it When there is a delay, they make money. I feel we are in the "one flew over the cocoker's nest" movie
"During 2023, five FDIC insured financial institutions failed, three of which are among
the largest failures in U.S. history. The first failure was Silicon Valley Bank, Santa Clara,
California, which failed on March 10, with $209 billion in assets, followed by Signature Bank,
New York, New York, which failed on March 12, with $110.4 billion in assets, and First Republic
Bank, San Francisco, California, which failed on May 1, with $212.6 billion in assets."
https://www.fdic.gov/system/files/2024-06/pl-2023-annual-report.pdf
"During 2023, five FDIC insured financial institutions failed, three of which are among
the largest failures in U.S. history. The first failure was Silicon Valley Bank, Santa Clara,
California, which failed on March 10, with $209 billion in assets, followed by Signature Bank,
New York, New York, which failed on March 12, with $110.4 billion in assets, and First Republic
Bank, San Francisco, California, which failed on May 1, with $212.6 billion in assets.
PG.6
PRESS RELEASE | SEPTEMBER 5, 2024
FDIC-INSURED INSTITUTIONS REPORTED NET INCOME OF $71.5 BILLION
Net Income Increased From the Prior Quarter, Driven By Lower Noninterest Expense and One-Time Gains
Community Bank Net Income Increased Quarter Over Quarter
The Net Interest Margin Declined Slightly, Driven by the Largest Banks
Domestic Deposits Decreased From the Prior Quarter
Asset Quality Metrics Remained Generally Favorable, Though Charge-Offs Increased
Loan Balances Increased Modestly From the Prior Quarter and a Year Ago
The Deposit Insurance Fund Reserve Ratio Increased Four Basis Points to 1.21 Percent
Quarterly Banking Profile - Quarterly Net Income“The banking industry continued to show resilience in the second quarter. Net income increased and asset quality metrics remained generally favorable. However, the banking industry still faces significant downside risks from uncertainty in the economic outlook, market interest rates, and geopolitical events. In addition, weakness in certain loan portfolios, particularly office properties, credit cards, and multifamily loans, continues to warrant monitoring.”— FDIC Chairman Martin J. Gruenberg______________________________________________________________WASHINGTON— Reports from 4,539 commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported aggregate net income of $71.5 billion in second quarter 2024, an increase of $7.3 billion (11.4 percent) from the prior quarter. A decline in noninterest expense and one-time gains on equity security transactions contributed to the quarterly increase. These and other financial results for second quarter 2024 are included in the FDIC’s latest Quarterly Banking Profile released today.
The Industry’s Net Income Increased From the Prior Quarter, Driven By Lower Noninterest Expense and One-Time Gains: Second quarter net income for the 4,539 FDIC-insured commercial banks and savings institutions increased $7.3 billion (11.4 percent) from the prior quarter to $71.5 billion. A decline in noninterest expense (down $3.6 billion, or 2.4 percent) along with higher noninterest income (up $1.2 billion, or 1.5 percent) and higher gains on the sale of securities (up $937 million) were the primary factors driving the increase in net income. Higher provision expenses offset some of the increase in net income.
The quarterly increase in net income was largely driven by nonrecurring items including an estimated $4 billion reduction in reported expense related to the FDIC special assessment, approximately $10 billion in gains on equity security transactions by large banks, and the sale of an institution’s insurance division that resulted in an after-tax $4.9 billion gain.[1] These increases were partially offset by several large banks selling bond portfolios at a loss and a $2.7 billion increase in provision expense.
The banking industry reported an aggregate return-on-assets ratio (ROA) of 1.20 percent in second quarter 2024, up 12 basis points from first quarter 2024 but down one basis point from first quarter 2023.
Community Bank Net Income Increased Quarter Over Quarter: Quarterly net income for the 4,104 community banks insured by the FDIC was $6.4 billion in the second quarter, an increase of $72.6 million (1.1 percent) from first quarter 2024. Higher net interest income (up $546.4 million, or 2.7 percent) and higher noninterest income (up $253.9 million, or 5.0 percent) more than offset higher noninterest expense (up $365.7 million, or 2.1 percent) and higher provision expenses (up $140.5 million, or 18.2 percent). The community bank pretax ROA increased one basis point from last quarter to 1.14 percent.
The Net Interest Margin Declined Slightly, Driven by the Largest Banks: The industry’s net interest margin (NIM) declined one basis point to 3.16 percent in the second quarter as the growth in funding costs slightly exceeded the growth in earning-asset yields. The industry’s second quarter NIM was nine basis points below the pre-pandemic average NIM after falling below that level last quarter.[2] The NIM increased quarter over quarter for all size groups except for the largest banks, those with assets over $250 billion, who in aggregate reported a four basis-point decline in the NIM. The community bank NIM of 3.30 percent increased seven basis points quarter over quarter, reversing a five-quarter declining trend, but was still 33 basis points lower than the pre-pandemic average.
Asset Quality Metrics Remained Generally Favorable, Though Charge-Offs Increased: Noncurrent loans, or loans that are 90 days or more past due or in nonaccrual status, remained unchanged from the prior quarter at 0.91 percent of total loans and well below the pre-pandemic average of 1.28 percent. Despite the stability in overall noncurrent loans, the noncurrent rate for non-owner occupied commercial real estate loans of 1.77 percent was at its highest level since third quarter 2013, driven by office portfolios at the largest banks. However, these banks tend to have lower concentrations of such loans in relation to total assets and capital than smaller institutions, mitigating the overall risk.
The industry’s net charge-off rate increased three basis points to 0.68 percent from the prior quarter and was 20 basis points higher than the year-ago quarter. This ratio was also 20 basis points above the pre-pandemic average and remained the highest quarterly rate reported by the industry since second quarter 2013. The credit card net charge-off rate was 4.82 percent in the second quarter, up 13 basis points quarter over quarter and the highest rate reported since third quarter 2011.
Loan Balances Increased Modestly From the Prior Quarter and a Year Ago: Total loan and lease balances increased $125.8 billion (1.0 percent) from the previous quarter. The increase was driven by higher loans to nondepository financial institutions (NDFIs) (up $76.0 billion, or 9.6 percent) and consumer loans (up $25.8 billion, or 1.2 percent). Much of the growth in NDFI lending appears to be due to reclassification from other existing loan categories. The majority of banks (75.1 percent) reported quarterly loan growth, and all major loan categories except construction and development loans showed quarter-over-quarter growth.
Total loan and lease balances increased by $244.5 billion (2.0 percent) from the prior year. The annual increase was also led by loans to NDFIs (up $77.5 billion, or 9.8 percent), likely due to reclassifications in the second quarter, as well as credit card loans (up $77.0 billion, or 7.5 percent) and adjustable rate 1-4 family residential mortgage loans (up $69.3 billion, or 7.5 percent). A large majority of banks (82.9 percent) reported annual loan growth.
Community banks reported a 1.7 percent increase in loan and lease balances from the previous quarter and a 6.3 percent increase from the prior year. Growth in nonfarm, nonresidential CRE loans and 1-4 family residential mortgage loans drove both the quarterly and annual increases in loan and lease balances. Loan growth was broad based across community banks with over three quarters of such banks reporting higher loan balances from the prior quarter.
Domestic Deposits Decreased From the Prior Quarter: Domestic deposits decreased $197.7 billion (1.1 percent) from first quarter 2024, well below the pre-pandemic average second-quarter growth of 0.2 percent. Both savings and transaction deposits declined from the prior quarter, with growth in small time deposits partially offsetting the declines. Brokered deposits decreased for the second straight quarter, down $10.1 billion (0.8 percent) from the prior quarter. Banks with over $250 billion in assets drove the quarterly decline in deposits.
Estimated insured deposits decreased $96.0 billion (0.9 percent) and estimated uninsured domestic deposits decreased $50.4 billion (0.7 percent) during the quarter. Banks with assets greater than $250 billion reported lower uninsured deposits in the second quarter, while banks with assets less than $250 billion reported higher uninsured deposit levels.
The Deposit Insurance Fund Reserve Ratio Increased Four Basis Points to 1.21 Percent: In the second quarter, the Deposit Insurance Fund (DIF) balance increased $3.9 billion to $129.2 billion. The reserve ratio increased four basis points during the quarter to 1.21 percent.
The Total Number of Insured Institutions Declined: The total number of FDIC-insured institutions declined by 29 during the quarter to 4,539. Three banks were sold to credit unions and 26 institutions merged with other banks during the quarter. One bank failed in the second quarter but did not file a call report in the first quarter, and no banks opened.
# # #
ATTACHMENTS:
Quarterly Banking Profile Home Page (includes previous reports and press conference webcast videos)
Charts and Data
Chairman Gruenberg’s Press Statement
MEDIA CONTACT:
Julianne Breitbeil
202-340-2043
JBreitbeil@FDIC.gov
FDIC: PR-76-2024
Royal Dude
Re: Boris the Spider post# 733350
Sunday, August 25, 2024 4:48:39 PM
Post# of 733352 Go
Possibility of FDIC September 1st
PG. 30
Release of JPMC Escrow Account, Washington Mutual Escrow Account and FDIC Escrow Account. (i) JPMC, WMI and the FDIC Receiver shall jointly direct the custodian of the JPMC Escrow Account, the Washington Mutual Escrow Account and the FDIC Escrow Account to release all or a portion of the JPMC Escrow Account, the Washington Mutual Escrow Account and the FDIC Escrow Account as the case may be, to JPMC, WMI and the FDIC Receiver, respectively, as soon as is practicable after the earlier to occur of: (A) the date on which all Pre-2009 Group Tax Liabilities are finally determined and paid and the final amount of Net Tax Refunds Received has been determined and is not subject to change; and (B) the date on which JPMC (with respect to the Washington Mutual Escrow Account), WMI (with respect to the JPMC Escrow Account), or JPMC and WMI jointly (with respect to the FDIC Escrow Account), consents, in writing, to permit the release of all or such agreed portion of the JPMC Escrow Account, the Washington Mutual Escrow Account or the FDIC Escrow Account, as applicable (such consent, in each case, not to be unreasonably withheld or delayed); provided, however, that there shall be released from each escrow account at least quarterly (on or prior to each March 1, June 1, September 1 and December 1) fifty percent (50%) of all amounts earned by such escrow account with respect to assets held therein.
[Fdic.govwww.fdic.gov/system/files/2024-07/wamu-global-settlement-agreement.pdf]([https://www.fdic.gov/.../wamu-global-settlement-agreement...))
[Second Amended and Restated Settlement Agreement - FDIC]([https://www.fdic.gov/.../wamu-global-settlement-agreement...)
(https://www.fdic.gov/.../wamu-global-settlement-agreement...);;
settlement does not deplete the assets or increase the liabilities associated with the WaMu ... International Service Association, VISA, Inc., and the ...
We will be paid in the Series NN and reconstruction the past year using UQRS and others. IMO
"The Series NN Preferred Stock shall rank as to dividends and upon liquidation, dissolution or winding-up on a parity with the Corporation’s
Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series Q, Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series R, Fixed-to-Floating
Rate Non-Cumulative Preferred Stock, Series S, Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series U, Fixed-to-Floating Rate
Non-Cumulative Preferred Stock, Series X, Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series CC, 5.75% Non-Cumulative Preferred
Stock, Series DD, 6.00% Non-Cumulative Preferred Stock, Series EE, Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series FF, 4.75%
Non-Cumulative Preferred Stock, Series GG, Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series HH, Fixed-to-Floating Rate
Non-Cumulative Preferred Stock, Series II, 4.55% Non-Cumulative Preferred Stock, Series JJ, 3.65% Fixed-Rate Reset Non-Cumulative Preferred
Stock, Series KK, 4.625% Non-Cumulative Preferred Stock, Series LL and 4.20% Non-Cumulative Preferred Stock, Series MM."
https://jpmorganchaseco.gcs-web.com/static-files/499807a7-a220-4176-80ab-2925ce9f2d39
The Most Royal Dude
Hey SUSU Take a BOND if you have any value in this?????????????
"$125,157,168,784
JPMORGAN CHASE & CO.
Debt Securities
Warrants
Units
Purchase Contracts
Guarantees
JPMORGAN CHASE FINANCIAL COMPANY LLC
Debt Securities
Warrants
We, JPMorgan Chase & Co., may from time to time offer and sell any of our securities listed above, in
each case, in one or more series. Our subsidiary, JPMorgan Chase Financial Company LLC, which we
refer to as “JPMorgan Financial,” also may from time to time offer and sell its securities listed above, in
each case, in one or more series. We fully and unconditionally guarantee all payments of principal,
interest and other amounts payable on any debt securities or warrants JPMorgan Financial issues. Up to
$125,157,168,784, or the equivalent thereof in any other currency, of these securities may be offered
from time to time, in amounts, on terms and at prices that will be determined at the time they are offered
for sale. These terms and prices will be described in more detail in one or more supplements to this
prospectus."
https://www.sec.gov/Archives/edgar/data/19617/000095010323005751/crt_dp192097-424b2.pdf
· Minimum denominations of $10,000 and integral multiples of $1,000 in excess thereof
Key Terms
Issuer: JPMorgan Chase Financial Company LLC, a direct, wholly owned finance subsidiary of JPMorgan Chase & Co
Guarantor: JPMorgan Chase & Co.
Reference Rate: 2-Year U.S. Dollar SOFR ICE Swap Rate (the “ICE Swap Rate”) determined as set forth under “Supplemental Terms of the Notes” in this pricing supplement
Payment at Maturity:
If the Final Reference Rate is greater than or equal to the Reference Strike Rate or is less than the Reference Strike Rate by up to the Buffer Percentage, at maturity you will receive a cash payment that provides you with a return per $1,000 principal amount note equal to the Contingent Digital Return. Accordingly, under these circumstances, your payment at maturity per $1,000 principal amount note will be calculated as follows:
$1,000 + ($1,000 × Contingent Digital Return)
If the Final Reference Rate is less than the Reference Strike Rate by more than the Buffer Percentage, at maturity you will lose 1.66667% of the principal amount of your notes for every 1% that the Final Reference Rate is less than the Reference Strike Rate by more than the Buffer Percentage. Under these circumstances, your payment at maturity per $1,000 principal amount note will be calculated as follows:
$1,000 + [$1,000 × (Reference Rate Return + Buffer Percentage) × Downside Leverage Factor]
If the Final Reference Rate is less than the Reference Strike Rate by more than the Buffer Percentage, you will lose some or all of your principal amount at maturity.
Contingent Digital Return: At least 12.10%, which reflects the maximum return on the notes. Accordingly, assuming a Contingent Digital Return of 12.10%, the maximum payment at maturity per $1,000 principal amount note is $1,121.00. The actual Contingent Digital Return will be provided in the pricing supplement and will not be less than 12.10%.
Buffer Percentage: 40%
Downside Leverage Factor: 1.66667
Strike Date:
Pricing Date:
September 17, 2024
On or about September 18, 2024
Original Issue Date: On or about September 23, 2024 (Settlement Date)
Observation Date†: September 30, 2025
Maturity Date††: October 3, 2025
https://www.sec.gov/Archives/edgar/data/1665650/000121390024079546/ea0214930-01_424b2.htm
All of the above $$$$$$ Plus from on high
They sure have waited to the last minuite. Libor has to be done by the end of September and mergers for WMIH/JPM/ FDIC, first Payment by October 22nd, JMO
Believe we are about to see the greatest transfer in wealth in history going digital imo
FDIC
Julianne Fisher Breitbeil
(202) 340-2043
JBreitbeil@FDIC.gov
For Release
Net Income Increased From the Prior Quarter, Driven By Lower Noninterest Expense and One-Time Gains
Community Bank Net Income Increased Quarter Over Quarter
The Net Interest Margin Declined Slightly, Driven by the Largest Banks
Domestic Deposits Decreased From the Prior Quarter
Asset Quality Metrics Remained Generally Favorable, Though Charge-Offs Increased
Loan Balances Increased Modestly From the Prior Quarter and a Year Ago
The Deposit Insurance Fund Reserve Ratio Increased Four Basis Points to 1.21 Percent
“The banking industry continued to show resilience in the second quarter. Net income increased and asset quality metrics remained generally favorable. However, the banking industry still faces significant downside risks from uncertainty in the economic outlook, market interest rates, and geopolitical events. In addition, weakness in certain loan portfolios, particularly office properties, credit cards, and multifamily loans, continues to warrant monitoring.”
— FDIC Chairman Martin J. Gruenberg
https://www.fdic.gov/news/press-releases/2024/fdic-insured-institutions-reported-net-income-715-billion#
FDIC Board of Directors Approves Final Statement of Policy on Bank Merger Transactions
September 17, 2024
https://www.fdic.gov/news/press-releases/2024/fdic-board-directors-approves-final-statement-policy-bank-merger
https://www.govinfo.gov/content/pkg/FR-2024-04-19/pdf/2024-08020.pdf
WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) Board of Directors today approved a notice of proposed rulemaking that would strengthen recordkeeping for bank deposits received from third party, non-bank companies accepting those deposits on behalf of consumers and businesses. The proposal seeks to address risks related to these third-party arrangements, protect depositors, and promote public confidence in insured deposits. "
https://www.fdic.gov/news/press-releases/2024/fdic-proposes-deposit-insurance-recordkeeping-rule-banks-third-party
Ben a long 16 years I do remember
It is Bryan not to be confused with Brian Rosen but I am Royal Dude never hid behind an alias. I created the group of wmihsafe on Facebook.
Please note this site will be down for scheduled maintenance Friday, 9/13/24, beginning at 8:00 PM ET.
Investor Relations Press Releases
JPMorgan Chase acquires substantial majority of assets and assumes certain liabilities of First Republic Bank
JPMorgan Chase to protect all deposits -- insured and uninsured -- bringing its financial strength, capabilities and capital to the U.S. banking system and First Republic No systemic risk exception required; a competitive bid process minimized costs to the Deposit Insurance Fund
New York
May 01, 2023
New York, May 1, 2023 – JPMorgan Chase (NYSE: JPM) today announced it has acquired the substantial majority of assets and assumed the deposits and certain other liabilities of First Republic Bank from the Federal Deposit Insurance Corporation (FDIC). In carrying out this transaction, JPMorgan Chase is supporting the U.S. financial system through its significant strength and execution capabilities. As part of the purchase, JPMorgan Chase is assuming all deposits – insured and uninsured.
“Our government invited us and others to step up, and we did,” said Jamie Dimon, Chairman and CEO of JPMorgan Chase. “Our financial strength, capabilities and business model allowed us to develop a bid to execute the transaction in a way to minimize costs to the Deposit Insurance Fund.”
https://www.jpmorganchase.com/ir/news/2023/jpmc-acquires-substantial-majority-of-assets-and-assumes-certain-liabilities-of-first-republic-bank?fbclid=IwAR0_1GWGMZlnuFw3zxNJb1p0gsivb-uNDfdOzTnNBMuk3aWahdHH1EXtFvk
No, but they are probably for Brookfield. Oh, but they aren't mentioned either.
WE SHOULD HAVE A PAYMENT BEGINING OCTOBER 22,2024 FOR 6.750%
"The Notes were issued pursuant to the Indenture, dated as of August 1, 2024 (the “Indenture”), among the Company, the Issuer, the subsidiary guarantors party thereto and Computershare Trust Company, N.A., as trustee (the “Trustee”). Interest on the Notes accrues beginning on August 1, 2024 at a rate of 6.500% per year. Interest on the Notes is payable semi-annually on February 1 and August 1 of each year, commencing on February 1, 2025. The Notes mature on August 1, 2029."
https://www.sec.gov/Archives/edgar/data/933136/000119312524191559/d759346d8k.htm
https://www.sec.gov/Archives/edgar/data/933136/000119312524191559/d759346dex41.htm
LegalMortgageServicing
Mr. Cooper, ACI to settle lawsuit over unauthorized mortgage payments
A court filing shows that the companies expect to sign a deal by Sept. 30
September 3, 2024, 3:41 pm By Flávia Furlan Nunes
The settlement notice was filed Aug. 30 in a U.S. district court in Texas. Mr. Cooper notified the court that “the parties have reached an agreement in principle to settle the litigated claims in this case in full.”
Mr. Cooper also requested that all deadlines remain pending until the formal settlement is completed, which is expected to happen by Sept. 30. After that, the plaintiff will file for a voluntary dismissal of the case.
https://www.housingwire.com/articles/mr-cooper-aci-to-settle-lawsuit-over-unauthorized-mortgage-payments/
Expand the posibilities
US treasury to sell $58B of 3-year notes at the top of the hour
Greg Michalowski
https://www.forexlive.com/news/us-treasury-to-sell-58b-of-3-year-notes-at-the-top-of-the-hour-20240910/
LG , what sounds good to me is using The Sunshine Act to do a monumental announcement. The ultimate arrogance of the Financial Geniuses of the Universe.
1, "Final Statement of Policy on Bank Merger Transactions." Coops strategy of using Brookfield to
corral MSBs and combination of Northstar and other mergers
2. "Proposed Rulemaking on Custodial Deposit Accounts with Transaction Features and Prompt
Payment of Deposit Insurance to Depositors.", The funding of insurance for the waterfall of $$$ to
fund Common shares.
3, "The Board will resolve these matters with a single vote " The Final Settlement of Libor with
Naomi" The announcement
4."Transaction Features and Prompt Payment of Deposit Insurance to Depositors" F&R is completed
AIMO Royal
https://www.fdic.gov/news/board-matters/2024/september-17-2024-sunshine-act-meeting-notice?source=govdelivery&utm_medium=email&utm_source=govdelivery#
This could be the big kahuna
MATTERS TO BE CONSIDERED: The Federal Deposit Insurance Corporation’s Board of Directors will meet to consider the following matters:
Discussion Agenda:
Notice of Proposed Rulemaking on Custodial Deposit Accounts with Transaction Features and Prompt Payment of Deposit Insurance to Depositors.
Final Statement of Policy on Bank Merger Transactions.
Summary Agenda: No substantive discussion of the following items is anticipated. The Board will resolve these matters with a single vote unless a member of the Board of Directors requests that an item be moved to the discussion agenda.
Minutes of a Board of Directors’ Meeting Previously Distributed.
Summary reports, status reports, and reports of actions taken pursuant to
https://www.fdic.gov/news/board-matters/2024/september-17-2024-sunshine-act-meeting-notice?source=govdelivery&utm_medium=email&utm_source=govdelivery
SUNSHINE ACT NOTICE | SEPTEMBER 10, 2024
The FDIC Board of Directors will meet in open session:
Time and Date: 10:00 a.m. on Tuesday, September 17, 2024.
Place: This Board meeting will be open to public observation only by webcast. FDIC Board Members and staff will participate from FDIC Headquarters, 550 17th Street, NW, Washington, DC.
Read the Notice & Agenda
The FDIC does not send unsolicited e-mail. If this publication has reached you in error, or if you no longer wish to receive this service, please unsubscribe.
This effective date not disclosed could be eminent for UK EMIR which may be done for Both US included. IMO
F&R
"UK EMIR REPORTING SERVICE FEE SCHEDULE 1. DEFINITIONS AND GUIDANCE 1.1.The definitions listed in paragraph 10 shall apply in this Fee Schedule. Any capitalised terms not defined in paragraph 10 shall have the same meaning as in the Operating Procedures. 1.2.Further guidance on this Fee Schedule may be located in the GTR Clients’ Learning Centre of the DTCC website located here: https://dtcclearning.com/products-and-services/repositoryservices.html (please login in order to be able to see the GTR Billing Information section – registration is free). The guidance and any examples provided in the GTR Client Learning Centre on this Fee Schedule are for assistance and information only and shall not form part of or be used in the interpretation of any of the User Agreement or Third Party Service Provider Agreement, Operating Procedures, Appendices or Schedules. 2. EFFECTIVE DATE This Fee Schedule shall take effect on 30 September 2024 on the entry into force of the applicable provisions of UK Refit. Any Fees under this Fee Schedule between the Effective Date and the end of September 2024 shall be billable but not billed until after 1 October 2024. The Prior Fee Schedule shall continue to be effective in respect of and apply to Direct Submissions and Delegated Submissions (as defined under the Prior Fee Schedule) after the Effective Date but before 1 October 2024 under UK EMIR before the entry into force of UK Refit or to which UK Refit does not apply.
https://www.dtcc.com/-/media/Files/pdf/2024/9/9/DR69.pdf?fbclid=IwY2xjawFMSvxleHRuA2FlbQIxMQABHRLNfWcC-pJqNCOoZtuF8rHKkbTrGy2fWsfAr3KGHJNK_LCmq6qBAAIYVQ_aem_EN1UqfvhDC3FLRGg86JGbg
Wow you have my 😍 endorcement go FDIC
B3 no soup for you today
Sounds good night
correction 750,000,000 m
Ober The best is yet to come for what will trigger this
1.Mergers in Coop
2. Planned payment announcement of A,s or S,T, redemption x,
3. October 22 Payment for noncumilatve Bonds backed by JPM 9B
4. any time for Sep 1.payment for Begining payment of last Quarter 7500,000,000
5. Paymeny of interest from Brookfield for yeaterday the 6th for Bonds of 800b + Coop 800B = 1.6 Trillion of MBS , all for legacy escrow. They will pay us with
the interest of our own money.with our participants in DTCC, Brkers. I believe we ar the "Beneficiaries"
6. Coversion of MBSs to Coop shares for legacy escrow =.058 for Common
AIMO
Our money for payment recovery from FDIC for legaacy IMO. Just part of the deception . The other amount to 64 Bil will come from other sourses IMO (Speculation) for the settlement payment of Project West/Anico.
ExhibitSummary:2,404Claims.12,567,860,434.64TotalNetLoss.1,554,797,250.63TotalVolumeNo. ClaimNumber NetLossVolumeNo. ClaimNumber NetLossVolume175215466 3,542,369,953.6171,519,592.19557520572336,508,163.90490,151.52277867846
DOCKETBIRD.COM
In re: Libor-Based Financial Instruments Antitrust Litigation: Exhibit A (Revised)
https://www.docketbird.com/.../nysd-1:2011-md-02262-03785...
64,187,120,357
JPMORGAN CHASE & CO.
Debt Securities
Warrants
Units
Purchase Contracts
Guarantees
JPMORGAN CHASE FINANCIAL COMPANY LLC
Debt Securities
Warrants
We, JPMorgan Chase & Co., may from time to time
Lucky, it may be already ready, with the recent F&R caeful IMO
NG the last Fair and Resonable may be the last F&R if this is just a mirror of the US portion ? Settlement eminent. Az seems (confusing) the issue :)
LG IMO the first one was always a mirror for the second.. More news to come One for UK and Europe and one for the US.. Our money shortly.
This may also clear settlement
411109/05/2024ORDER APPROVING EXCHANGE-BASED PLAINTIFFS' COUNSEL'S MOTION FOR ATTORNEYS' FEES AND REIMBURSEMENT OF LITIGATION EXPENSES in case 1:11-cv-02613-NRB; granting (4096) Motion for Attorney Fees in case 1:11-md-02262-NRB IT IS HEREBY ORDERED, ADJUDGED, AND DECREED THAT: 1. Court-appointed interim co-lead class counsel Kirby Mcinerney LLP and Lovell Stewart Halebian Jacobson LLP ("Settlement Class Counsel") for the Exchange-Based Plaintiffs are hereby awarded 30% of the remainder of the Settlement Funds3 minus the amount of litigation expenses reimbursed, for their attorneys' fees, which sum the Court finds to be fair and reasonable. The fee award shall be paid from the Settlement Fund created by the Settlement between Exchange-Based Plaintiffs and the Settling Defendants. 2. Settlement Class Counsel are hereby awarded $135,349.19 for reimbursement of litigation expenses, which expenses the Court finds to have been reasonably incurred in the prosecution and settlement of this Action. The foregoing expense award shall be paid from the Settlement Fund created by the Settlement between Exchange-Based Plaintiffs and Settling Defendants. 3. The foregoing amounts shall be paid to Settlement Class Counsel from the Settlement Fund pursuant to the terms, conditions, and obligations of the Settlement Agreement, which terms, conditions, and obligations are incorporated herein. Settlement Class Counsel may make payments of fees and expenses to counsel for other plaintiffs as Settlement Class Counsel deems appropriate based on their relative contribution to the prosecution and resolution of the Action. IT IS SO ORDERED. (Signed by Judge Naomi Reice Buchwald on 9/5/2024) Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-02613-NRB (jca) Transmission to Finance Unit (Cashiers) for processing.
411009/05/2024FINAL JUDGMENT AND ORDER GRANTING FINAL APPROVAL OF CLASS ACTION SETTLEMENT WITH DEFENDANTS CREDIT SUISSE AG, LLOYDS BANK PLC, BANK OF SCOTLAND PLC, NATWEST MARKETS PLC, PORTIGON AG, WESTDEUTSCHE IMMOBILIENBANK AG, ROY AL BANK OF CANADA, RBC CAPITAL MARKETS, LLC, COOPERA TIEVE RABOBANK U.A., THE NORINCHUKIN BANK, MUFG BANK, LTD., AND UBS AG IT IS HEREBY ORDERED, ADJUDGED, AND DECREED THAT: This Final Judgment and Order Granting Final Approval of Class Action Settlement with the Settling Defendants ("Final Judgment and Approval Order") hereby incorporates by reference the definitions in the Settlement Agreement and the Court's April 26, 2024 Order (1) Preliminarily Approving Settlements with Defendants Credit Suisse AG ("Credit Suisse"), Lloyds Bank pie and Bank of Scotland pie(together, "Lloyds"), NatWest Markets pie (f/k/a The Royal Bank of Scotland pie) ("NatWest"),Portigon AG (f/k/a WestLB) and Westdeutsche Immobilienbank AG (n/k/a WestdeutscheImmobilien Servicing AG) (together, "Portigon"), Royal Bank of Canada and RBC CapitalMarkets, LLC (together, "RBC"), Cooperatieve Rabobank U.A. (f/k/a Cooperatieve CentraleRaiffeisen-Boerenleenbank B.A.) ("Rabobank"), The Norinchukin Bank ("Norinchukin"), MUFGBank, Ltd. (f/k/a The Bank of Tokyo-Mitsubishi UFJ, Ltd.), and UBS AG ("UBS") (collectively, the "Settling Defendants"); (2) Conditionally Certifying the Settlement Class; (3) Appointing Settlement Class Counsel; (4) Approving Claims Administrator and Escrow Agent; (5) Approving Notice Program; (6) Preliminarily Approving Plan of Distribution; and (7) Scheduling a Fairness Hearing ("Preliminary Approval Order") and all capitalized terms used herein shall have the same meaning as those set forth in the Settlement Agreement or Preliminary Approval Order, unlessotherwise indicated.There is no just reason for delay in the entry of this Final Judgment and Approval Order, and immediate entry by the Clerk of the Court is expressly directed pursuant to Rule 54(b) of the Federal Rules of Civil Procedure. (And as further set forth herein.) IT IS SO ORDERED. (Signed by Judge Naomi Reice Buchwald on 9/5/2024) Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-02613-NRB
https://www.docketbird.com/court-cases/In-Re-Libor-Based-Financial-Instruments-Antitrust-Litigation/nysd-1:2011-md-02262