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I want to thank you, Lodas, for being such a strong indicator of something coming soon
jhd, SOL, Statute of Limitations is Sep 8th on or before. After that I am with you.Bucket 1 anytime , Bucket 2 on or before 5/24, 2024. EOS
The small clearance could be indicative of movement
"JPMorgan Chase (NYSE:JPM), Goldman Sachs (NYSE:GS), and UBS (NYSE:UBS) agreed to pay almost $500M to settle an antitrust suit related to stock lending at the firms' joint venture, according to a court filing submitted Wednesday evening."
JPMorgan Chase (NYSE:JPM), Goldman Sachs (NYSE:GS), and UBS (NYSE:UBS) agreed to pay almost $500M to settle an antitrust suit related to stock lending at the firms' joint venture, according to a court filing submitted Wednesday evening.
SEEKINGALPHA.COM
UBS Group AG (UBS) Stock Price Today, Quote & News
JPMorgan Chase (NYSE:JPM), Goldman Sachs (NYSE:GS), and UBS (NYSE:UBS) agreed to pay almost $500M to settle an antitrust suit related to stock lending at the firms' joint venture, according to a court filing submitted Wednesday evening.
The blueprint for FDIC/JPM settlement all for Bucket 1 and our Bucket 2 settlement of 800B in Brookfield.
JPMorgan Chase acquires substantial majority of assets and assumes certain liabilities of First Republic Bank
– May 01, 2023New York
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 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.”
Dimon added, “This acquisition modestly benefits our company overall, it is accretive to shareholders, it helps further advance our wealth strategy, and it is complementary to our existing franchise.”
Key transaction elements following the FDIC’s competitive bidding process include:
Acquisition of the substantial majority of First Republic Bank’s assets, including approximately $173 billion of loans and approximately $30 billion of securities
Assumption of approximately $92 billion of deposits, including $30 billion of large bank deposits, which will be repaid post-close or eliminated in consolidation
FDIC will provide loss share agreements covering acquired single-family residential mortgage loans and commercial loans, as well as $50 billion of five-year, fixed-rate term financing
JPMorgan Chase is not assuming First Republic’s corporate debt or preferred stock
First Republic branches will open on Monday, May 1, as normal, and clients will continue to receive uninterrupted service, including digital and mobile banking capabilities.
As a result of this transaction, JPMorgan Chase expects to:
Recognize an upfront, one-time, post-tax gain of approximately $2.6 billion, which does not reflect the approximately $2.0 billion dollars of post-tax restructuring costs anticipated over the next 18 months
Remain very well-capitalized with a CET1 ratio consistent with its 1Q 24 target of 13.5% and maintain healthy liquidity buffers
The transaction is expected to be modestly EPS accretive and generate more than $500 million of incremental net income per year, not including the approximately $2.6 billion one-time post-tax gain or approximately $2.0 billion of post-tax restructuring costs expected over the course of 2023 and 2024.
The acquired First Republic businesses will be overseen by JPMorgan Chase’s Consumer and Community Banking (CCB) Co-CEOs, Marianne Lake and Jennifer Piepszak.
“First Republic has built a strong reputation for serving clients with integrity and exceptional service,” said Lake and Piepszak. “We look forward to welcoming First Republic employees. As always, we are committed to treating employees with respect, care and transparency.”
JPMorgan Chase will:
post an investor presentation with additional deal details on its Investor Relations website at approximately 7:00 a.m. ET on Monday, May 1
host a media call at 8:00 a.m. ET and an analyst and investor call at 8:30 a.m. ET featuring Jamie Dimon, and CFO, Jeremy Barnum, on Monday, May 1
As noted above, JPMorgan Chase will host a conference call for analysts and investors on Monday, May 1, at 8:30 a.m. (ET) to discuss the transaction. The general public can access the call by dialing (888) 324-3618 in the U.S. and Canada, or (312) 470-7119 for international callers; using passcode 1364784#. Please dial in 15 minutes prior to the start of the call. The live audio webcast and presentation slides will be available on the Firm’s website, www.jpmorganchase.com, under Investor Relations.
About JPMorgan Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (“U.S.”), with operations worldwide. JPMorgan Chase had $3.7 trillion in assets and $303 billion in stockholders’ equity as of March 31, 2023. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world’s most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of JPMorgan Chase & Co.’s management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Factors that could cause JPMorgan Chase & Co.’s actual results to differ materially from those described in the forward-looking statements can be found in JPMorgan Chase & Co.’s Annual Report on Form 10-K for the year ended December 31, 2022, which has been filed with the Securities and Exchange Commission and is available on JPMorgan Chase & Co.’s website (https://jpmorganchaseco.gcs-web.com/financial-information/sec-filings), and on the Securities and Exchange Commission’s website (www.sec.gov). JPMorgan Chase & Co. does not undertake to update any forward-looking statements.
Investor Contact:
Mikael Grubb
212-270-2479
Media Contact:
Joseph Evangelisti
212-270-7438
SEC.gov | HOME
SEC.GOV
SEC.gov | HOME
WE ARE THE INVESTOR'S ADVOCATE The SEC protects investors, promotes fairness in the securities markets, and shares information about companies and investment professionals to help investors make informed decisions and invest with confidence. We Inform and Protect Investors We Facilitate Capital Form.
.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.
Believe this may be the final release of Compliance for LIBOR????????????????
71908/11/2023NOTICE of Compliance with 28 U.S.C. § 1715. Document filed by Portigon AG f/k/a WestLB AG, Westdeutsche ImmobilienBank AG (n/k/a Westdeutsche Immobilien Servicing AG). Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-05450-NRB.
371808/11/2023NOTICE of Of Compliance with 28 U.S.C. § 1715. Document filed by Bank of Scotland PLC, HBOS PLC, Lloyds Bank PLC (formerly known as Lloyds TSB Bank PLC), Lloyds Banking Group PLC.
371708/11/2023NOTICE of COMPLIANCE WITH 28 U.S.C. § 1715. Document filed by Cooperatieve Rabobank U.A. Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-05450-NRB.
AZ why bring it all back now . This is the settlement that JPM/FDIC made right in front of you. They need to play it out.
"Key transaction elements following the FDIC’s competitive bidding process include:
Acquisition of the substantial majority of First Republic Bank’s assets, including approximately $173 billion of loans and approximately $30 billion of securities
Assumption of approximately $92 billion of deposits, including $30 billion of large bank deposits, which will be repaid post-close or eliminated in consolidation
FDIC will provide loss share agreements covering acquired single-family residential mortgage loans and commercial loans, as well as $50 billion of five-year, fixed-rate term financing
JPMorgan Chase is not assuming First Republic’s corporate debt or preferred stock
First Republic branches will open on Monday, May 1, as normal, and clients will continue to receive uninterrupted service, including digital and mobile banking capabilities.
As a result of this transaction, JPMorgan Chase expects to:
Recognize an upfront, one-time, post-tax gain of approximately $2.6 billion, which does not reflect the approximately $2.0 billion dollars of post-tax restructuring costs anticipated over the next 18 months
Remain very well-capitalized with a CET1 ratio consistent with its 1Q 24 target of 13.5% and maintain healthy liquidity buffers
The transaction is expected to be modestly EPS accretive and generate more than $500 million of incremental net income per year, not including the approximately $2.6 billion one-time post-tax gain or approximately $2.0 billion of post-tax restructuring costs expected over the course of 2023 and 2024.
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
The acquired First Republic businesses will be overseen by JPMorgan Chase’s Consumer and Community Banking (CCB)"
Who's ya daddy, Atleast I try when Bums like you don't care for retail
Totally agree, JB, and just to aggravate the naysayers, we are very close
It is a mistake to think that the liquidity on September 6th is not part of other transactions in JPM. Just sayn
Principal Amount Issued: $2,265,356,590†
Maximum Authorized for Issuance: $2,265,356,590†
Alerian MLP Index®* ETN due May 24, 2024
*with payment at maturity or upon early repurchase based on the VWAP Level of the Index
https://www.sec.gov/Archives/edgar/data/19617/000121390023069509/ea160228_fwp.htm
424B2 1 ea152994_424b2.htm MARKET-MAKING SUPPLEMENT
Market-making supplement
To product supplement no. 6-I dated April 13, 2023 and
the prospectus supplement and prospectus, each dated April 13, 2023
Registration Statement No. 333-270004
Dated April 13, 2023
Rule 424(b)(2)
Structured
Investments
Principal Amount Issued: $2,265,356,590†
Maximum Authorized for Issuance: $2,265,356,590†
Alerian MLP Index®* ETN due May 24, 2024
*with payment at maturity or upon early repurchase based on the VWAP Level of the Index
†Reflects the retirement of 10,000,000 notes, with an aggregate principal amount of $190,366,100, prior to the date of this market making supplement
https://www.sec.gov/Archives/edgar/data/19617/000121390023029590/ea152994_424b2.htm
JPMORGAN CHASE & CO. DECLARES QUARTERLY COUPON ON ALERIAN MLP INDEX ETN
New York, Aug 21 2023 - JPMorgan Chase & Co. announced today the quarterly coupon amount for the Alerian MLP Index ETN (NYSE Arca: AMJ). The table below summarizes the coupon amount for the Alerian MLP Index ETN (the “Notes”).
NYSE
Arca
Ticker Registered
Issue Name Declaration
Date Ex-Date Record
Date Payment
Date Coupon
Amount1
per Note Current
Yield2
AMJ Alerian MLP Index ETN Aug 21, 2023 Aug 25, 2023 Aug 28, 2023 Sep 6, 2023 $0.4101 6.8%
The Notes are subject to a maximum issuance limitation of 129,000,000 Notes, which may cause the Notes to trade at a premium relative to the indicative note value. Investors that pay a premium for the Notes could incur significant losses if that investor sells its notes at a time when some or all of the premium is no longer present.
1) As defined in the Market-Making Supplement, dated April 13, 2023 for the Notes.
You may access this market making supplement as follows:
https://www.sec.gov/Archives/edgar/data/19617/000121390023029590/ea152994_424b2.htm
SOURCE(s) of "Shares Released" Figures
(If you have the actual public links for any -- please advise)
Source #1 Email from Edgar Sargent (SG) regarding what Alverez and Marshal provided to him
From johnnyiwantsome on BP
From: Edgar G. Sargent
Sent: Thursday, March 22, 2012 4:36 PM
To: barry
Subject: RE: Wamu
Here's information I just received from Alvarez showing conversion ratios:
142,500,000 (75% of 190,000,000) are distributed to holders of preferred securities as well as claims subordinated to the level of preferred. Total disputed claims at the preferred level are $106,514,585.09. For those claims, 2,109,051 shares are reserved. The remaining 140,390,949 are distributed evenly by liquidation preference across the $7.5 billion of preferred shares. However, while the TPS are denominated in 1,000s, the Series K has a face amount per share of $25.
For the TPS, 3,729,658.260 shares provided releases and will receive 73,849,406 shares or 19.80058 new shares per old share. This share count is after giving effect to the mandatory exchange.
For Series R, 2,906,421 shares provided releases and will receive 57,548,829 or 19.8005825 new shares per old share.
For Series K, 18,166,565 shares provided releases and will receive 8,992,714 shares or 0.4950146 new shares per old share.
For the common shareholders, they are receiving 47,500,000 shares of which 4,165,750 shares go to the Dime Warrant holders, 2,631,933 shares are reserved for disputed equity claims, 693,806 shares will be distributed to Principal Financial on account of their claims and existing common will get 40,008,511 shares. For each share of existing common granting releases in the total amount of 1,194,340,178 shares, they will receive 0.03349842 shares.
Because no fractional shares are being issued, the percentages for each holder may vary due to rounding. I’m not sure what you are using this information for, but that’s an important point for holders.
Source #2 http://www.prnewswire.com/news-releases/wmi-liquidating-trust-announces-distribution-from-disputed-equity-escrow-to-class-22-claimants-164307306.html
Reverse Calculations - assuming 32,000,000 WMIH shares issued
Per Press Release New WMIH Shares Received Ratio of Conversion "Calculated
Original quantity of ""released"" shares
(Dividing New WMIH Shares by Conversion Ratio)" "Shares Released
Per Edgar Memo" "Calculated
Delta"
REIT - 73,849,313 - 19.80058 73,849,313 19.8005825 3,729,654 3,729,658 4
PQs - 57,548,706 - 19.8005825 57,548,706 19.8005825 2,906,415 2,906,421 6
KQs - 8,992.818 - 0.4950145 8,992,818 0.4950145 18,166,777 18,166,565 -212
DIME - 4,165,700 - 0.05463704 4,165,700 0.05463704 76,243,149
UQs - 40,702,317 - 0.03349842 40,702,317 0.03349842 1,215,051,844 1,194,340,178 -20,711,666
UQs - 40,702,317 - 0.03349842 41,630,179 95,000 1,194,340,178 1,194,245,178
SOURCE(s) of "Shares Released" Figures
(If you have the actual public links for any -- please advise)
Source #1 Email from Edgar Sargent (SG) regarding what Alverez and Marshal provided to him
From johnnyiwantsome on BP
From: Edgar G. Sargent
Sent: Thursday, March 22, 2012 4:36 PM
To: barry
Subject: RE: Wamu
Here's information I just received from Alvarez showing conversion ratios:
142,500,000 (75% of 190,000,000) are distributed to holders of preferred securities as well as claims subordinated to the level of preferred. Total disputed claims at the preferred level are $106,514,585.09. For those claims, 2,109,051 shares are reserved. The remaining 140,390,949 are distributed evenly by liquidation preference across the $7.5 billion of preferred shares. However, while the TPS are denominated in 1,000s, the Series K has a face amount per share of $25.
For the TPS, 3,729,658.260 shares provided releases and will receive 73,849,406 shares or 19.80058 new shares per old share. This share count is after giving effect to the mandatory exchange.
For Series R, 2,906,421 shares provided releases and will receive 57,548,829 or 19.8005825 new shares per old share.
For Series K, 18,166,565 shares provided releases and will receive 8,992,714 shares or 0.4950146 new shares per old share.
For the common shareholders, they are receiving 47,500,000 shares of which 4,165,750 shares go to the Dime Warrant holders, 2,631,933 shares are reserved for disputed equity claims, 693,806 shares will be distributed to Principal Financial on account of their claims and existing common will get 40,008,511 shares. For each share of existing common granting releases in the total amount of 1,194,340,178 shares, they will receive 0.03349842 shares.
Because no fractional shares are being issued, the percentages for each holder may vary due to rounding. I’m not sure what you are using this information for, but that’s an important point for holders.
Source #2 http://www.prnewswire.com/news-releases/wmi-liquidating-trust-announces-distribution-from-disputed-equity-escrow-to-class-22-claimants-164307306.html
Reverse Calculations - assuming 32,000,000 WMIH shares issued
Per Press Release New WMIH Shares Received Ratio of Conversion "Calculated
Original quantity of ""released"" shares
(Dividing New WMIH Shares by Conversion Ratio)" "Shares Released
Per Edgar Memo" "Calculated
Delta"
REIT - 73,849,313 - 19.80058 73,849,313 19.8005825 3,729,654 3,729,658 4
PQs - 57,548,706 - 19.8005825 57,548,706 19.8005825 2,906,415 2,906,421 6
KQs - 8,992.818 - 0.4950145 8,992,818 0.4950145 18,166,777 18,166,565 -212
DIME - 4,165,700 - 0.05463704 4,165,700 0.05463704 76,243,149
UQs - 40,702,317 - 0.03349842 40,702,317 0.03349842 1,215,051,844 1,194,340,178 -20,711,666
UQs - 40,702,317 - 0.03349842 41,630,179 95,000 1,194,340,178 1,194,245,178
SOURCE of "Shares Outstanding" (as of Bankruptcy Filing) Figures
If you know of a 'better' number, of a 'better' authoratitave source, please advise!!!
Share Type Original CUSIP Original "shares outstanding" as of Bankruptcy Filing Source(s)
TPS
WAMPQ 939322814 3,000,000 http://www.sec.gov/Archives/edgar/data/933136/000095013407025343/v36123b2e424b5.htm
WAMKQ 939322830 20,000,000 http://investorshub.advfn.com/boards/read_msg.aspx?message_id=35344499
http://www.sec.gov/Archives/edgar/data/933136/000095012406005225/v23402b5e424b5.htm
WAMUQ 939322103 1,704,958,913 http://www.kccllc.net/documents/0812229/0812229111212000000000003.pdf
To calculate try this :
https://docs.google.com/spreadsheets/d/1ZoUYA5R7n6pEB-JxSS6NxEayKqNmtbKAaXwf_rOaeZQ/edit?pli=1#gid=519369997
ACCOUNTS.GOOGLE.COM
Thanks Bob not in disagreement with anything the fine stuff will be defined
The new account symbol will be:
JSDX
All trades with trade date of September 1, 2023 and earlier should be submitted for comparison on
September 1, 2023. Beginning September 5, 2023, all trades are to be submitted for comparison on a
trade date basis.
https://www.dtcc.com/-/media/Files/pdf/2023/8/21/MBS1261-23.pdf
It already has been done May1 Money does not sleep. The FDIC is the key and the 8th is just a target.
"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. "
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
Close enough for me minus 1% small potatoes
Just going by the article good enough for me
We should hear something after SOL statute of limitations September 8th if not by then it is up to the hedgefunds or Susman group,
Per POR 7 P's 75%= 48.75 B
Per POR 7 u's 25%= 16.25 B 2+
$48.75 B / 3 Million shares outstanding = aprox $1,846 per P
13.54 B / 1.2B Share outstanding = $13.54 per u
or
"RD -
Looking good. Let's make an adjustment to Value for P's and K's returned. $6,709.28 and $178.90 respectively.
Let's bring it in soon!
Distro."
F & R
Bucket 1
WMB = 32B Assets + earnings and FV of $$$$
Use caculation table prepared by Sussman Group and Por7(75%/25%)
60 B my guess
Bucket 2
Brookfield BX/Bam(75%/25%)= 800 B
COOP/WMI/Home/Xome 800 B
The Big 5 200B x 5 = 1 Trillion = 2.6 Trillion , the Big kahuna
My guess
Some people think this is cruel to put up. What is really cruel is to be stolen from.
The "retail man" Royal Dude
Settlement payment (T+1)
Bucket 1= Now to September 8th
Bucket 2 = August 14th 2023 - May 31,2024 ("in Brookfield")
https://www.dtcc.com/.../get-ready-for-may-28-2024-top...
DTCC Event Marketing <eventmarketing@dtcc.com>Unsubscribe
Thu, May 25 at 8:49 AM
With just over a year to go before requirements to shorten the securities settlement cycle in the U.S. and Canada take effect in May 2024, the implementation countdown is officially on.Join a panel of industry experts on Tuesday, June 13 at 10:00 AM EDT / 3:00 PM BST for a live discussion on the importance of effective impact assessments, the role of automation in driving settlement efficiencies, and how DTCC Consulting Services can help fast track your readiness in the lead up to T+1.
DTCC.COM
Get Ready for May 28, 2024: Top Five Things to Do Now
https://bam.brookfield.com/stock-distributions/quote-chart
Fred I believe a good deal of the $$$$$$$ MBS have been kept in BN/BAM 75%/25% "the arrangement" in its creation and they are being boarded in COOP. JMO
It will be completed on May 28th 2024.
“The six pending cases are all still in the very early stages. They’re assigned to different Judges on the federal Central District of California bench. No major motions, such as motions to dismiss or motions for summary judgment, have yet been filed by any of the defendants. We expect that the FDIC-R will file additional suits within the next four months, because its position is that the statute of limitations on these claims will not expire until on or about September 8, 2023. Having represented several mortgage companies, brokers and regional banks in cases of this type for well over a decade, we believe that most of them generally have strong legal and factual defenses available to them to combat such claims. Being aware of the potential grounds for such defenses is imperative in dealing with these suits, which often seek many millions of dollars in alleged damages, interest and fees.”
Sounds good to me distro
This will be an ongoing process and will take a while so bear with me
Bucket 1
First Republic Bank as stated in release
Washington Mutual Bank look alike???
Asset = Liabilities + RE/OE
$207.8B = 142B + 65B
This is simple enough for me to understand that the 65B is due to the Share Holders
Assets
173 B (Mbs)
4.8 B Tax Benefits
30 B Securities
Total 207.8
Liabilities
Deposits 92. B
FDIC Loan 50 B
RE/OE 65 B
Total 207.8
This is what and should be returned in the first Bucket. If you plug this into the formula that was facilitated by Edgar Sargent you will get a better result if not have fun for yourself, I did.
Per POR 7 P's 75%= 48.75 B
Per POR 7 u's 25%= 16.25 B 2+
$48.75 B / 3 Million shares outstanding = aprox $1,846 per P
13.54 B / 1.2B Share outstanding = $13.54 per u
Understand none of this calculation is based on official professional in this guess of mine Just me having fun.
Please fell free to improve, I have very thick skin posting on iHub <><
Te second Bucket TBD (15%-30%) of 800 B of remote MBS
https://www.jpmorganchase.com/ir/news/2023/jpmc-acquires-substantial-majority-of-assets-and-assumes-certain-liabilities-of-first-republic-bank?fbclid=IwAR37NMWqfA28oi5emsnO-UzC65K6XI2OS5p-z4_EFciPLBIZHaa4RVcrdF0
Your refering to something different Novascotia JPM should start paying now
"ORD PAYMENT DATE AUGUST 22, 2023"
Royal Dude
Re: None
Thursday, August 17, 2023 4:13:50 PM
Post# of 714165 Go
Pay up JPM or you may pay the price JMO -Royal
DEPOSITARY JPMORGAN CHASE BANK, N.A.
CUSIP 670100205
UNDERLYING ISIN DK0060534915
RATIO (DR: ORD) 1:1
DR RECORD DATE AUGUST 21, 2023
DR PAYMENT DATE AUGUST 29, 2023
ORD PAYMENT DATE AUGUST 22, 2023
DR GROSS DIVIDEND RATE $0.8835613 (APPROXIMATE)
LONG FORM RECLAIM ELECTION PERIOD
GOAL ADRoit OPENS FOR LONG FORM RECLAIM AUGUST 30, 2023 - 9:00 AM (EST)
GOAL ADRoit DEADLINE FOR LONG FORM RECLAIM DECEMBER 23, 2025 - 5:00 PM (EST)"
https://www.dtcc.com/.../Files/pdf/2023/8/14/18865-23.pdf...
Bullish
BULLISH
Hail Jamie
“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.”
Dimon added, “This acquisition modestly benefits our company overall, it is accretive to shareholders, it helps further advance our wealth strategy, and it is complementary to our existing franchise.”
Royal
This is the facsimily of the final purchase of Washington Mutual Bank. This should not be confused with the remote assets approx 800 Bil of remote assets that also must be claimed by retail legacy stock. IMO
https://www.jpmorganchase.com/ir/news/2023/jpmc-acquires-substantial-majority-of-assets-and-assumes-certain-liabilities-of-first-republic-bank
Lotus is just noise we should be concentrating on our ability to keep this takeover of First Republic by JPM and the matching of the characteristics of Wasington Mutual Bank and the sealed documents of "project west. We must show that JPM/FDIC/ to sweep this under the rug for the Hedgefunds and we get screwed. We have no friends here and must stand alone for "retail".
Bucket one IMO Royal, Bryan ONeil
My first question is what was the interest they got for all this debt?????
"Key transaction elements following the FDIC’s competitive bidding process include:
Acquisition of the substantial majority of First Republic Bank’s assets, including approximately $173 billion of loans and approximately $30 billion of securities
Assumption of approximately $92 billion of deposits, including $30 billion of large bank deposits, which will be repaid post-close or eliminated in consolidation
FDIC will provide loss share agreements covering acquired single-family residential mortgage loans and commercial loans, as well as $50 billion of five-year, fixed-rate term financing
JPMorgan Chase is not assuming First Republic’s corporate debt or preferred stock
First Republic branches will open on Monday, May 1, as normal, and clients will continue to receive uninterrupted service, including digital and mobile banking capabilities."
Time to engage and fight and I say this to the Sussman Group, Steven would want us to protect the constitution as we remember him fondly.
This should work
https://www.jpmorganchase.com/ir/news/2023/jpmc-acquires-substantial-majority-of-assets-and-assumes-certain-liabilities-of-first-republic-bank
This is basicly all you need to understand that this has been already integrated in JPM, for the payment of wmb which were the terms in the "project West and Anico(Bucket 1). Now all they need to do is give us JPM stock from their Treasury account. Lets get this done Jamie my kids need a new pair of shoes. LOL
"Acquisition of the substantial majority of First Republic Bank’s assets, including approximately $173 billion of loans and approximately $30 billion of securities
Assumption of approximately $92 billion of deposits, including $30 billion of large bank deposits, which will be repaid post-close or eliminated in consolidation
FDIC will provide loss share agreements covering acquired single-family residential mortgage loans and commercial loans, as well as $50 billion of five-year, fixed-rate term financing
JPMorgan Chase is not assuming First Republic’s corporate debt or preferred stock
First Republic branches will open on Monday, May 1, as normal, and clients will continue to receive uninterrupted service, including digital and mobile banking capabilities."
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=172633655
JPMorgan Chase acquires substantial majority of assets and assumes certain liabilities of First Republic Bank
New York – May 01, 2023
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 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.”
Dimon added, “This acquisition modestly benefits our company overall, it is accretive to shareholders, it helps further advance our wealth strategy, and it is complementary to our existing franchise.”
Key transaction elements following the FDIC’s competitive bidding process include:
Acquisition of the substantial majority of First Republic Bank’s assets, including approximately $173 billion of loans and approximately $30 billion of securities
Assumption of approximately $92 billion of deposits, including $30 billion of large bank deposits, which will be repaid post-close or eliminated in consolidation
FDIC will provide loss share agreements covering acquired single-family residential mortgage loans and commercial loans, as well as $50 billion of five-year, fixed-rate term financing
JPMorgan Chase is not assuming First Republic’s corporate debt or preferred stock
First Republic branches will open on Monday, May 1, as normal, and clients will continue to receive uninterrupted service, including digital and mobile banking capabilities.
As a result of this transaction, JPMorgan Chase expects to:
Recognize an upfront, one-time, post-tax gain of approximately $2.6 billion, which does not reflect the approximately $2.0 billion dollars of post-tax restructuring costs anticipated over the next 18 months
Remain very well-capitalized with a CET1 ratio consistent with its 1Q 24 target of 13.5% and maintain healthy liquidity buffers
The transaction is expected to be modestly EPS accretive and generate more than $500 million of incremental net income per year, not including the approximately $2.6 billion one-time post-tax gain or approximately $2.0 billion of post-tax restructuring costs expected over the course of 2023 and 2024.
The acquired First Republic businesses will be overseen by JPMorgan Chase’s Consumer and Community Banking (CCB) Co-CEOs, Marianne Lake and Jennifer Piepszak.
“First Republic has built a strong reputation for serving clients with integrity and exceptional service,” said Lake and Piepszak. “We look forward to welcoming First Republic employees. As always, we are committed to treating employees with respect, care and transparency.”
JPMorgan Chase will:
post an investor presentation with additional deal details on its Investor Relations website at approximately 7:00 a.m. ET on Monday, May 1
host a media call at 8:00 a.m. ET and an analyst and investor call at 8:30 a.m. ET featuring Jamie Dimon, and CFO, Jeremy Barnum, on Monday, May 1
As noted above, JPMorgan Chase will host a conference call for analysts and investors on Monday, May 1, at 8:30 a.m. (ET) to discuss the transaction. The general public can access the call by dialing (888) 324-3618 in the U.S. and Canada, or (312) 470-7119 for international callers; using passcode 1364784#. Please dial in 15 minutes prior to the start of the call. The live audio webcast and presentation slides will be available on the Firm’s website, www.jpmorganchase.com, under Investor Relations.
About JPMorgan Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (“U.S.”), with operations worldwide. JPMorgan Chase had $3.7 trillion in assets and $303 billion in stockholders’ equity as of March 31, 2023. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world’s most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of JPMorgan Chase & Co.’s management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Factors that could cause JPMorgan Chase & Co.’s actual results to differ materially from those described in the forward-looking statements can be found in JPMorgan Chase & Co.’s Annual Report on Form 10-K for the year ended December 31, 2022, which has been filed with the Securities and Exchange Commission and is available on JPMorgan Chase & Co.’s website (https://jpmorganchaseco.gcs-web.com/financial-information/sec-filings), and on the Securities and Exchange Commission’s website (www.sec.gov). JPMorgan Chase & Co. does not undertake to update any forward-looking statements.
Investor Contact:
Mikael Grubb
212-270-2479
Media Contact:
Joseph Evangelisti
212-270-7438
What else does anyone need Keep it simple, Royal
Our new Bank for WMIH just pay us
"The recent acquisition of First Republic assets makes Q2 guesstimates tough
JPMorgan is always on the lookout for good deals and during the second quarter, the bank acquired about $173B of loans and $30B of securities from the FDIC which seized the assets of the First Republic Bank. The assets are backed by $92B in deposits and $28B in FHLB advances, and JPMorgan acquired these assets for $10.6B in cash.
Back in 2008 the concept of a 'Jamie-Deal' was launched when JPMorgan initially got an amazing deal on the government-backed acquisition of Bear Stearns. And it looks like JPMorgan's deal to acquire these assets from First Republic is another 'Jamie Deal'. The FDIC has entered into loss share agreements and will provide 80% loss coverage on residential mortgages in the first seven years and 80% loss coverage on commercial loans during the first five years. Additionally, the FDIC is providing JPMorgan with a $50B fixed rate financing for a period of five years. This will replace the $25B in deposits from large US banks.
https://seekingalpha.com/.../4615626-jpmorgan-preferreds...
https://www.jpmorganchase.com/ir/news/2023/jpmc-acquires-substantial-majority-of-assets-and-assumes-certain-liabilities-of-first-republic-bank
May the Force be with you Bob
I have not seen the 15 yr statute of Limitation anywhere The only SOL i have found is in this article
https://www.bilzin.com/.../indemnification-claims-2000s...
"We expect that the FDIC-R will file additional suits within the next four months, because its position is that the statute of limitations on these claims will not expire until on or about September 8, 2023"
Is there anything else in the market that would require this much liquity, other than the FDIC/JPM movement in the settlement of the great Humpty Dumoty. It is outrageou to not think the change of the System in DTCCof liquity is not us in Legacy. Forgive me for diagnoses of Lunacy. in my approach
Page 12 of 115
available to OCC from September 2021 through September 2022, in the event that NSCC did not
accept E&A/Delivery Transactions, the worst-case scenario peak liquidity need OCC identified
was $384,635,833,942 for settlement to occur on a gross broker-to-broker basis. OCC estimates
that the corresponding GSP in this scenario would have been $863,619,056. OCC also analyzed
several other large liquidity demand amounts that were identified during the study if OCC
effected settlement on a gross broker-to-broker basis.31 These liquidity demand amounts and the
largest liquidity demand amount OCC observed of $384,635,833,942 substantially exceed the
amount of liquid resources currently available to OCC.32 By contrast, projected GSPs identified
during the study ranged from $419,297,734 to $6,281,228,428. For each of these projected GSP
amounts, OCC observed that the Margin Assets and OCC Clearing Fund contributions that
would have been required of Clearing Members in these scenarios would have been sufficient to
satisfy the amount of the projected GSPs.
Page 12 of 115
available to OCC from September 2021 through September 2022, in the event that NSCC did not
accept E&A/Delivery Transactions, the worst-case scenario peak liquidity need OCC identified
was $384,635,833,942 for settlement to occur on a gross broker-to-broker basis. OCC estimates
that the corresponding GSP in this scenario would have been $863,619,056. OCC also analyzed
several other large liquidity demand amounts that were identified during the study if OCC
effected settlement on a gross broker-to-broker basis.31 These liquidity demand amounts and the
largest liquidity demand amount OCC observed of $384,635,833,942 substantially exceed the
amount of liquid resources currently available to OCC.32 By contrast, projected GSPs identified
during the study ranged from $419,297,734 to $6,281,228,428. For each of these projected GSP
amounts, OCC observed that the Margin Assets and OCC Clearing Fund contributions that
would have been required of Clearing Members in these scenarios would have been sufficient to
satisfy the amount of the projected GSPs.
https://www.dtcc.com/-/media/Files/Downloads/legal/rule-filings/2023/NSCC/SR-NSCC-2023-007.pdf
Pay up JPM or you may pay the price JMO -Royal
DEPOSITARY JPMORGAN CHASE BANK, N.A.
CUSIP 670100205
UNDERLYING ISIN DK0060534915
RATIO (DR: ORD) 1:1
DR RECORD DATE AUGUST 21, 2023
DR PAYMENT DATE AUGUST 29, 2023
ORD PAYMENT DATE AUGUST 22, 2023
DR GROSS DIVIDEND RATE $0.8835613 (APPROXIMATE)
LONG FORM RECLAIM ELECTION PERIOD
GOAL ADRoit OPENS FOR LONG FORM RECLAIM AUGUST 30, 2023 - 9:00 AM (EST)
GOAL ADRoit DEADLINE FOR LONG FORM RECLAIM DECEMBER 23, 2025 - 5:00 PM (EST)"
https://www.dtcc.com/-/media/Files/pdf/2023/8/14/18865-23.pdf?fbclid=IwAR0s-OnyHjhOP2nQ8xgP1eRyQ3yye7L6XOicIeDt4eyKcJzzA0P-c2RMUaY