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This could be our replacement Bank. It is about the right size.
NYCB
“Shortly after closing the acquisition of Flagstar Bank, we were presented with the unique opportunity to accelerate this transformation when we were selected by the FDIC to purchase certain strategically and financially attractive assets and liabilities of Signature Bank. The benefits of this transaction were abundantly clear, as it strengthened our balance sheet by adding a significant amount of low-cost deposits and a middle-market business supported by over 130 private banking teams. The transaction also put us over $100 billion in total assets, placing us firmly in the Category IV large bank class of banks between $100 billion and $250 billion in assets and subjecting us to enhanced prudential standards, including risk-based and leverage capital requirements, liquidity standards, requirements for overall risk management and stress testing. While we began preparing to be a $100 billion bank almost immediately after closing the Flagstar acquisition, we crossed this important threshold sooner than anticipated as a result of the Signature transaction. Alongside the integration of our three banks and in anticipation of our initial capital plan submission in April of this year, we have pivoted quickly and accelerated some necessary enhancements that come with being a $100 billion-plus Category IV bank."
SEC.GOV
nycb-20240131
https://www.sec.gov/Archives/edgar/data/910073/000091007324000031/nycb-20240131.htm
Guess they only allow me to post after 10 p.m. why you don't see me during the day
The Semantics of the use of escrows is disastrous. Wish we could delete you the same.
Sorry $27 could be but there is so much money being confused in this settlement we will never know.
"The offering is expected to close on or around February 1, 2024, subject to customary closing conditions. It is expected that the net proceeds of the offering will be used to repay a portion of the amounts outstanding under Mr. Cooper’s MSR facilities."
donfig47
Re: None
Tuesday, January 30, 2024 7:46:12 AM
Post# of 722565 Go
Mr. Cooper Group Inc. Announces Pricing of Offering of $1 Billion of Senior Notes
DALLAS—(BUSINESS WIRE)—January 29, 2024--Mr. Cooper Group Inc. (NASDAQ: COOP) (“Mr. Cooper”) announced the pricing of an offering by Nationstar Mortgage Holdings Inc., a direct wholly-owned subsidiary of Mr. Cooper (“Nationstar”), of $1,000,000,000 7.125% Senior Notes due 2032 (the “Notes”). The Notes will bear interest at 7.125% per annum and will mature on February 1, 2032. Interest on the Notes will be payable semi-annually on February 1 and August 1 of each year, beginning on August 1, 2024.
The offering is expected to close on or around February 1, 2024, subject to customary closing conditions. It is expected that the net proceeds of the offering will be used to repay a portion of the amounts outstanding under Mr. Cooper’s MSR facilities.
The Notes will be guaranteed on a joint and several basis by Mr. Cooper and wholly-owned domestic subsidiaries of Nationstar (other than certain excluded subsidiaries).
The offering of the Notes was made in reliance upon an exemption from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), in the United States only to investors who are “qualified institutional buyers,” as that term is defined in Rule 144A under the Securities Act, or outside the United States pursuant to Regulation S under the Securities Act. The Notes have not been registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States without registration or an applicable exemption from registration requirements.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of any of the Notes in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Forward-Looking Statements
This press release may include information that could constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements may involve risk and uncertainties that could cause actual results to differ materially from any future results encompassed within the forward-looking statements. Factors that could cause or contribute to such differences include those matters disclosed in Mr. Cooper’s Securities and Exchange Commission filings. Past results of Mr. Cooper are not necessarily indicative of future results. Mr. Cooper does not undertake any obligation to update any forward-looking statement.
About Mr. Cooper Group
Mr. Cooper Group Inc. (NASDAQ: COOP) provides quality servicing, origination and transaction-based services related principally to single-family residences throughout the United States with operations under its primary brands: Mr. Cooper® and Xome®. Mr. Cooper is one of the largest home loan servicers in the country focused on delivering a variety of servicing and lending products, services and technologies. Xome provides technology and data enhanced solutions to homebuyers, home sellers, real estate agents and mortgage companies.
Contacts
Investor Contact:
Kenneth Posner, SVP Strategic Planning and Investor Relations
(469) 426-3633
Shareholders@mrcooper.com
I can really feel the love Reiko
This just appeared, know nothing about sourse . But I did not produce it. Maybe it is time to sue !!!!!!!,
Action Requested: Approve the proposed capital distribution not to exceed $20 billion from Washington Mutual Bank fsb to Pike Street Holdings.
Summary: Since the execution of Project Jefferson in February 2004, WMB fsb has generated a large amount of excess cash through asset sales, funding transactions and nel Income. WMB fab has lent the excess funds to Washington Mutual Bank through a master note arrangement. The master note with WMB is not a qualified thrift asset. In the past WMB fsb had deployed the excess funds on the master note by purchasing loans or securities, in a tax officient manner, from WMB. The loans or securities are pledged to secure additional funding which then grosses up the balance sheet of WMB fab. The balance sheet of WMB fab, since 2004, has grown from approximately $30 billion to $47 billion.
We propose to decapitalize WMB fab by returning $20 billion of capital to its parent. The $20 billion will include the master note of approximately $7 billion, proceeds from $3.5 billion of Discount Notes and cash generated through add Bonal wholesale deposits and advances from FHLB Seattle, We propose the payment of at least $10 billion by September 30, 2008 and the remaining $10 billion through December 2009.
The net balance sheet of WMB fsb will be approximately $34 billion to $36 billion after Project Fillmore. The leverage ratio will decrease to 25% from 62%. A well- capitalized institution requires an 8% or higher leverage ratio.
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They continue to lay out the road for payment of legacy. Will this be the time?????????????? on January 31st
Key Terms
Issuer: JPMorgan Chase Financial Company LLC, an indirect, wholly owned finance subsidiary of JPMorgan Chase & Co.
Guarantor: JPMorgan Chase & Co.
Underlier: the S&P 500® Index (Bloomberg symbol, “SPX Index”), as published by S&P Dow Jones Indices LLC (“S&P”). The accompanying product supplement refers to the underlier as the “Index.”
Principal amount: each note will have a principal amount of $1,000; $11,605,000 in the aggregate for all the offered notes; the aggregate principal amount of the offered notes may be increased if the issuer, at its sole option, decides to sell an additional amount of the offered notes on a date subsequent to the date of this pricing supplement
Purchase at amount other than principal amount: the amount we will pay you at the stated maturity date for your notes will not be adjusted based on the price you pay for your notes, so if you acquire notes at a premium (or discount) to the principal amount and hold them to the stated maturity date, it could affect your investment in a number of ways. The return on your investment in the notes will be lower (or higher) than it would have been had you purchased the notes at the principal amount. Also, the stated buffer level would not offer the same benefit to your investment as would be the case if you had purchased the notes at the principal amount. Additionally, the cap level would be triggered at a lower (or higher) percentage return than indicated below, relative to your initial investment. See “Selected Risk Factors — Risks Relating to the Notes Generally — If You Purchase Your Notes at a Premium to the Principal Amount, the Return on Your Investment Will Be Lower Than the Return on Notes Purchased at the Principal Amount and the Impact of Certain Key Terms of the Notes Will Be Negatively Affected” on page PS-13 of this pricing supplement.
PS-3
Payment on the stated maturity date: for each $1,000 principal amount note, we will pay you on the stated maturity date an amount in cash equal to:
? if the final underlier level is greater than or equal to the cap level, the maximum settlement amount;
? if the final underlier level is greater than the initial underlier level but less than the cap level, the sum of (i) $1,000 plus (ii) the product of (a) $1,000 times (b) the upside participation rate times (c) the underlier return;
? if the final underlier level is equal to or less than the initial underlier level but greater than or equal to the buffer level, $1,000; or
? if the final underlier level is less than the buffer level, the sum of (i) $1,000 plus (ii) the product of (a) $1,000 times (b) the buffer rate times (c) the sum of the underlier return plus the buffer amount. You will receive less than $1,000.
Initial underlier level (the closing level of the underlier on the trade date): 4,868.55. The accompanying product supplement refers to the initial underlier level as the “Initial Value.”
Final underlier level: the closing level of the underlier on the determination date. In certain circumstances, the closing level of the underlier will be based on the alternative calculation of the underlier described under “General Terms of Notes — Postponement of a Determination Date — Notes Linked to a Single Underlying — Notes Linked to a Single Underlying (Other Than a Commodity Index)” on page PS-45 of the accompanying product supplement or “The Underlyings — Indices — Discontinuation of an Index; Alteration of Method of Calculation” on page PS-68 of the accompanying product supplement. The accompanying product supplement refers to the final underlier level as the “Final Value.”
Underlier return: the quotient of (i) the final underlier level minus the initial underlier level divided by (ii) the initial underlier level, expressed as a percentage
Upside participation rate: 3.00
Cap level: 106.28% of the initial underlier level
Maximum settlement amount: $1,188.40
Buffer level: 90.00% of the initial underlier level
Buffer amount: 10.00%
Buffer rate: the quotient of the initial underlier level divided by the buffer level, which equals approximately 1.1111
Trade date: January 24, 2024
Original issue date (settlement date): January 31, 2024"
$125,157,168,784
JPMORGAN CHASE & CO.
Debt Securities
Warrants
Units
Purchase Contracts
Guarantees
JPMORGAN CHASE FINANCIAL COMPANY LLC
Debt Securities
Warrants
https://www.sec.gov/Archives/edgar/data/19617/000095010323005751/crt_dp192097-424b2.pdf
Sorry Large not soon enough
"• Since September 2008, Freddie Mac has been operating in conservatorship, with the Federal Housing Finance Agency (FHFA) acting as Conservator. • As of December, our maximum exposure to Fannie Mae-issued collateral that was included in Freddie Mac-issued resecuritizations was approximately $110.4 billion, and is not in Table 4."
https://www.freddiemac.com/investors/financials/pdf/1223mvs.pdf?fbclid=IwAR1AXYOEp5geb5DY745W-SlM6jpRhPs_U3d3JqyP9wKoMKPPfUWG0ZcR7VA
PRESS RELEASE | JANUARY 26, 2024
FDIC MAKES PUBLIC DECEMBER ENFORCEMENT ACTIONS; NO ADMINISTRATIVE HEARINGS SCHEDULED FOR FEBRUARY 2024
WASHINGTON - The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in December 2023. There are no administrative hearings scheduled for February 2024.
The FDIC issued 12 orders and one Decision and Order in December 2023. The administrative enforcement actions in those orders consisted of four orders of termination of deposit insurance; three orders terminating consent orders; two consent orders; one order terminating supervisory prompt corrective action directive; one order of prohibition from further participation; one order to pay a civil money penalty (CMP); and one Decision and Order to Prohibit from Further Participation and Assessment of Civil Money Penalty.
To view orders, adjudicated decisions and notices and the administrative hearing details online, please visit the FDIC’s Web page by clicking the link below.
December 2023 Enforcement Decisions & Orders
Effective January 31, 2024, please note the following Sponsored Member name changes: THE BANK OF NEW YORK MELLON is the Sponsoring Member for these firms. Please note that only the designated Sponsoring Member is authorized to submit transactions against its Sponsored Members. Questions regarding this Important Notice should be directed to your DTCC Relationship Manager. To: First American Funds Trust - Government Obligations Fund From: First American Funds, Inc. – Government Obligations Fund To: First American Funds Trust - Institutional Prime Obligations Fund From: First American Funds, Inc. – Institutional Prime Obligations Fund To: First American Funds Trust - Treasury Obligations Fund From: First American Funds, Inc. – Treasury Obligations Fund To: First American Funds Trust - Retail Prime Obligations Fund From: First American Funds, Inc. – Retail Prime Obligations
https://www.dtcc.com/-/media/Files/pdf/2024/1/25/GOV1632-24PDF.PDF
The Connection
"WHERE IS OUR MONEY ANYWAY NO ONE HAS EVER GIVEN ME A GOOD ANSWER ?
American Funds Washington Mutual Investors Fund Class A AWSHX
American Funds Large Blend
Change fund
0.21 (0.37%)$55.86
YTD Return
+11.92%
As of November 30, 2023
Net Assets
$162B
https://www.capitalgroup.com/individual/search.html...
Freddie Mac Issues Monthly Volume Summary for December 2023
Jan. 25, 2024 4:32 PM ETFederal Home Loan Mortgage Corporation (FMCC)
MCLEAN, Va., Jan. 25, 2024 (GLOBE NEWSWIRE) -- Freddie Mac (FMCC) today posted to its website its Monthly Volume Summary for December 2023, which provides information on Freddie Mac’s mortgage-related portfolios, securities issuance, risk management, delinquencies, debt activities and other investments.
https://seekingalpha.com/pr/19603381-freddie-mac-issues-monthly-volume-summary-for-december-2023?hasComeFromMpArticle=false
Fannie Mae Multifamily Closes 2023 With More than $52 Billion in Volume
(PRNewsfoto/Fannie Mae)
NEWS PROVIDED BY
Fannie Mae
25 Jan, 2024, 14:00 ET
https://www.prnewswire.com/news-releases/fannie-mae-multifamily-closes-2023-with-more-than-52-billion-in-volume-302045052.html
https://capitalmarkets.freddiemac.com/mbs/data/k062oc.pdf
They are all related to the transfer of $$$$ through the DTC and clients that could be related to us
Tax documents are coming
Most 1099s will post by 2/15/2024 (all will post by 2/29/2024)
See dates for other forms in the Tax Calendar
It's possible you won't get a 1099 or you may get your form earlier.
COMPARISON SYSTEMS
Trade input for the Real Time Transaction System (RTTM) for Corporates, Municipals and UITS (CMU) for
trade date Friday, February 16, 2024, will be accepted no later than 8:00 pm on Friday, February 16, 2024.
TRADE CAPTURE AND REPORTING
No UTC processing will take place on Monday, February 19, 2024.
SECURITIES FINANCING TRANSACTION (SFT)
There will be no settlement for SFT activity and no new SFTs or Roll messages accepted by UTC on Monday,
February 19, 2024.
CONTINUOUS NET SETTLEMENT (CNS)
There will be no CNS settlement on Monday, February 19, 2024. Seg. Exemptions and Priority Requests for
settlement of Tuesday, February 20, 2024, will be accepted on Friday evening, February 16, 2024.
https://www.dtcc.com/-/media/Files/pdf/2024/1/24/a9381.pdf
This is probably a specialized alert to AZ IMO
"FICC is pleased to announce that effective January 31, 2024, the following firm will be added
as a Sponsored Member of the Government Securities Division:
THE BANK OF NEW YORK MELLON is the Sponsoring Member for this firm. Please note that
only the designated Sponsoring Member is authorized to submit transactions against its
Sponsored Members.
Questions regarding this Important Notice should be directed to your DTCC Relationship
Manager.
Fund Name
ARIZONA PSPRS TRUST
https://www.dtcc.com/-/media/Files/pdf/2024/1/24/GOV1631-24PDF.PDF
Bucket 1
"FICC has been notified of J.P. Morgan Securities LLC’s intent to close its JTAG Clearing and EPN
accounts effective January 26, 2024. No further trade date submissions related to this account will be
accepted.
FICC will publish the final termination notice once all obligations of J.P. Morgan Securities LLC’s
JTAG Clearing account has been satisfied.
Questions regarding this Important Notice should be directed to your DTCC Relationship Manager."
https://www.dtcc.com/-/media/Files/pdf/2024/1/24/MBS1299-24.pdf
Bucket 2
"On January 24, 2024, NSCC filed an amendment to the Initial Filing (“Amended Filing”), which
supersedes and replaces the Initial Filing in its entirety. The Amended Filing includes the proposed
changes to the Accord and NSCC Rules from the Initial Filing as well as additional enhancements to
the Accord and NSCC Rules to facilitate the upcoming transition to a T+1 standard securities
settlement cycle in May 2024."
https://www.dtcc.com/-/media/Files/pdf/2024/1/24/a9383.pdf
https://www.dtcc.com/-/media/Files/pdf/2024/1/24/MBS1299-24.pdf
Subject to Completion. Dated January 24, 2024.
Pricing Supplement to the Prospectus and Prospectus Supplement, each dated April 13, 2023, the Underlying Supplement No. 1-I dated April 13, 2023 and the Product Supplement No. 4-I dated April 13, 2023
JPMorgan Chase Financial Company LLC
Medium-Term Notes, Series A
$
Capped Enhanced Participation Equity Notes due 2025
(Linked to the S&P 500® Index)
Fully and Unconditionally Guaranteed by JPMorgan Chase & Co.
The notes will not bear interest. The amount that you will be paid on your notes on the stated maturity date (May 12, 2025, subject to adjustment) is based on the performance of the S&P 500® Index (which we refer to as the underlier) as measured from and including the trade date (on or about February 1, 2024) to and including the determination date (May 8, 2025, subject to adjustment). If the final underlier level on the determination date is greater than the initial underlier level (set on the trade date), the return on your notes will be positive, subject to the maximum settlement amount (expected to be between $1,139.50 and $1,163.80 for each $1,000 principal amount note).
https://www.sec.gov/Archives/edgar/data/1665650/000183988224001900/jpm_424b2-01150.htm
Please look at this as a way to hide an event to the process and timing of the derivitives payments to the FDIC and tranfer of value to legacy value. I know a bit of a stretch but dd needs to be studied.
Following are the pertinent details of the Successor Event on ISDA 2014 Derivatives Definitions. Senior Reference Obligation Successor Event Name: SOLVAY JAN24 Old Reference Entity: Solvay Adherence Method: Auto-Auto adherence Effective Date: January 22nd, 2024 First New Reference Entity: Solvay First New RED code: 8B787AAF1 First New Reference Entity ISIN US232820AK60 Second New Reference Entity: Syensqo Second New RED code: BJ1ZDMAA4 Second New Reference Entity ISIN: BE6282460615 Event Processing Start Date: January 29th, 2024 Event Processing End Date: February 1 st, 2024
https://www.dtcc.com/-/media/Files/pdf/2024/1/23/TIW801.pdf
Could not agree more Thanks
PRESIDENTS’ DAY 2024 SCHEDULE
TRADE
DATE
T+1
SETTLEMENT
T+2
SETTLEMENT
2/14 2/15 2/16
2/15 2/16 2/20
2/16 2/20 2/21
2/19 NO SETTLEMENT SERVICES
2/20 2/21 2/22
https://www.dtcc.com/-/media/Files/pdf/2024/1/22/19617-24.pdf
Believe the Blackrock mentioned because it illustrates the importance to a large player will be paid.
Believe you meant Brookfield one of our destinations for our MBSs Bucket 2
Believe that Bucke1 settlement for WMB and funded by the FDIC is iminent IMO
Well JHD the timing fits and the
The notes will not bear interest.
They have decieved us before but this is also the 125B Mother Bond of JPM
I am numb and just looking at the possibilities. Bucket 1 is iminent and Bucket 2 in the Spring IMO
JPMorgan Chase Financial Company LLC
Medium-Term Notes, Series A
$
Digital Equity Notes due 2025
(Linked to the EURO STOXX® Banks Index)
Fully and Unconditionally Guaranteed by JPMorgan Chase & Co.
The notes will not bear interest. The amount that you will be paid on your notes on the stated maturity date (February 26, 2025, subject to adjustment) is based on the performance of the EURO STOXX® Banks Index (which we refer to as the underlier) as measured from and including the trade date (on or about January 22, 2024) to and including the determination date (February 24, 2025, subject to adjustment). If the final underlier level on the determination date is greater than or equal to 80.00% of the initial underlier level (set on the trade date), you will receive the threshold settlement amount (expected to be between $1,097.30 and $1,114.20 for each $1,000 principal amount note). If the final underlier level declines by more than 20.00% from the initial underlier level, the return on your notes will be negative. You could lose your entire investment in the notes. Any payment on the notes is subject to the credit risk of JPMorgan Chase Financial Company LLC (“JPMorgan Financial”), as issuer of the notes, and the credit risk of JPMorgan Chase & Co., as guarantor of the notes.
Original issue date (settlement date): on or about January 29, 2024
https://www.sec.gov/Archives/edgar/data/1665650/000121390024004829/ea168649_424b2.htm
$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
https://www.sec.gov/Archives/edgar/data/19617/000095010323005751/crt_dp192097-424b2.pdf
How do the Lawyers get paid? The judge signed and declared settled and not get paid in December. We should all know by the EOM Feb 1st 2024 ????????????? look for your 1099
12/18/2023
MEMO ENDORSEMENT on re: [3955] Letter, filed by Bank Of America Corporation, JPMorgan Chase Bank N.A., JPMorgan Chase & Co., Bank of America, N.A. ENDORSEMENT: The Court is in receipt of the parties' letters dated December 4 and December 7, 2023. See ECF Nos. 3955, 3958. Defendants' proposed motion appears to be inconsistent with the provisions in the Scheduling Order that the parties proposed at least as early as July 5, 2022 that provide for expert discovery, the submission of expert reports, and the filing of motions to exclude experts concerning the Upstream Issues and OTC class certification. See ECF Nos. 3425, 3687. Accordingly, the application is denied. So ordered. (Signed by Judge Naomi Reice Buchwald on 12/18/2023)
3960
12/12/2023
ORDER APPROVING OTC PLAINTIFFS' MOTION FOR ATTORNEYS' FEES AND REIMBURSEMENT OF LITIGATION EXPENSES granting (638) Motion for Attorney Fees in case 1:11-cv-05450-NRB; granting (3865) Motion for Attorney Fees in case 1:11-md-02262-NRB. IT IS HEREBY ORDERED THAT: 1. Class Counsel shall receive $25,228,596.71 in attorneys' fees, to be paid out of the settlement fund created by the settlement with Defendants Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. (n/k/a Cooperatieve Rabobank U.A.), Lloyds Banking Group plc, Lloyds Bank plc, HBOS plc, and Bank of Scotland pie, Royal Bank of Canada, and WestLB AG (n/k/a Portigon AG) and Westdeutsche Immobilienbank AG (n/k/a Westdeutsche Immobilien Servicing AG) (the "Settlement"), plus interest on the foregoing amount, accruing from entry of this Order until paid, at the same rate earned by the settlement fund. 2. Class Counsel shall be reimbursed $85,613.16 in costs and expenses reasonably incurred in the prosecution and settlement of this litigation, to be paid out of the settlement fund created by the Settlement, plus interest on the foregoing amount, accruing from entry of this Order until paid, at the same rate earned by the settlement fund. 3. Susman Godfrey L.L.P. and Hausfeld L.L.P. ("Class Counsel") shall have the sole authority to allocate and distribute any attorneys' fees and expenses awarded from the Settlement pursuant to this order among counsel who performed work on behalf of the OTC Plaintiffs in a manner which, in the opinion of Class Counsel, fairly compensates such counsel for their services. (Signed by Judge Naomi Reice Buchwald on 12/12/2023) Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-05450-NRB.
3959
12/12/2023
FINAL JUDGMENT AND ORDER GRANTING FINAL APPROVAL OF SETTLEMENT WITH DEFENDANTS COOPERATIEVE RABOBANK U.A., LLOYDS BANKING GROUP PLC, LLOYDS BANK PLC, HBOS PLC, BANK OF SCOTLAND PLC, ROYAL BANK OF CANADA, PORTIGON AG, AND WESTDEUTSCHE IMMOBILIEN SERVICING AG: NOW, THEREFORE, IT IS HEREBY ORDERED, ADJUDGED AND DECREED: 1. This Court has subject matter jurisdiction over this action and personal jurisdiction over Rabobank, Lloyds, RBC, and Portigon for purposes of this settlement, and all members of the OTC Class (defined in paragraph 6, infra), as further set forth. 4. Pursuant to Rule 23(e) of the Federal Rules of Civil Procedure, the Court hereby grants final approval of the Settlement on the basis that it is fair, reasonable, and adequate as to, and in the best interests of, all OTC Class Members, 4 within the meaning of, and in compliance with all applicable requirements of, Federal Rule of Civil Procedure 23; the Court directs theSettlement's consummation according to the terms of the Settlement Agreement. In reaching this conclusion, the Court has considered the factors set forth in Federal Rule of Civil Procedure 23(e) and City of Detroit v. Grinnell Corp., 495 F.2d 448, 463 (2d Cir. 1974), abrogated on other grounds by Goldberger v. Integrated Res., Inc., 209 F.3d 43 (2d Cir. 2000). Moreover, the Court concludes as further set forth. 5. Upon review of the record, the Court finds that the pro rata Plan of Distribution has a reasonable, rational basis and is fair and adequate. Therefore, the Plan of Distribution is hereby finally approved, as further set forth. 10. Pursuant to Rule 23(g) of the Federal Rules of Civil Procedure, and solely for settlement purposes, the following firms are designated as settlement class counsel ("Class Counsel") for the Class HAUSFELD LLP and SUSMAN GODFREY L.L.P. 11. Upon review of the record, the Court finds that the Class Notice constituted due adequate, and sufficient notice of the Settlement and was the best notice practicable under the circumstances and satisfied the requirements of Federal Rules of Civil Procedure 23(c)(2)(B) and 23(e)(1), due process, and any other applicable law. Therefore, the Class Notice is finally approved. 15. The Court dismisses the OTC Action, as well as all of the Released Claims, against any of the Released Parties by the Releasing Parties, with prejudice. The Parties are to bear their own costs, except as otherwise provided in the Settlement, provided that such dismissal shall not affect, in any way, the right of the Releasing Parties to pursue claims, if any, outside the scope of the Released Claims, as further set forth. 26. There is no just reason for delay in the entry of this Final Judgment and 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. IT IS SO ORDERED. Lloyds Banking Group plc, Portigon AG, Royal Bank of Canada, HBOS PLC and Lloyds Bank plc (f/k/a Lloyds TSB Bank plc) terminated. (Signed by Judge Naomi Reice Buchwald on 12/12/2023) Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-05450-NRB.
12/12/2023
Transmission to Finance Unit (Cashiers). Transmitted re: (3960 in 1:11-md-02262-NRB, 656 in 1:11-cv-05450-NRB) Order on Motion for Attorney Fees, to the Finance Unit (Cashiers) for case processing. Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-05450-NRB. (Text entry; no document attached.)
12/12/2023
Minute Entry for proceedings held before Judge Naomi Reice Buchwald: Fairness Hearing held on 12/12/2023. (Text entry; no document attached.)
12/12/2023
The dial-in for the OTC Plaintiffs' fairness hearing scheduled for today at 11:00 a.m. is 888-363-4749, access code 271-2517. (Text entry; no document attached.)
DOCKETBIRD.COM
In re: Libor-Based Financial Instruments Antitrust Litigation: FINAL JUDGMENT AND ORDER GRANTING FINAL APPROVAL OF SETTLEMENT WITH DEFENDANTS COOPERATIEVE RABOBANK U.A., LLOYDS BANKING GROUP PLC, LLOYDS BANK PLC, HBOS PLC, BANK OF SCOTLAND PLC,...
https://www.docketbird.com/court-documents/In-re-Libor-Based-Financial-Instruments-Antitrust-Litigation/MEMO-ENDORSEMENT-on-re-3955-Letter-filed-by-Bank-Of-America-Corporation-JPMorgan-Chase-Bank-N-A-JPMorgan-Chase-Co-Bank-of-America-N-A-ENDORSEMENT-The-Court-is-in-receipt-of-the-parties-letters-dated-December-4-and-December-7-2023-See-ECF-Nos-3955-395/nysd-1:2011-md-02262-03961
Hey Bbobp It is ok to be right together :)
$27, I can't get excited anymore. I am totally numb at this stage. Hang in there
Not totally clear to me?????
"CTM Web Application Access
WHAT: DTCC's Institutional Trade Processing (ITP) will be retiring the legacy URL, ctmweb.omgeo.net, in favor of access to CTM® via MyDTCC, our portal for direct access to all DTCC services, support tools, and Learning Center resources in one centralized location. MyDTCC is the preferred method of access given it’s enhanced user benefits and security.
WHO: Users access to CTM using the legacy URL, ctmweb.omgeo.net, will need to begin accessing the service via MyDTCC.
WHEN: The legacy URLs will be retired on:
• Client Test on February 1, 2024
• Production on February 10, 2024
FOR MORE INFORMATION: Please contact us for any assistance. Click here if you are having issues accessing the MyDTCC Portal.
Bucket 1 iminent Setlement on 8.5b of JPM BOND on January 23rd just a part of Anico/Project WestIMO
Bucket 2
"“2024 will see the shift to a T+1 settlement cycle in the U.S., which promises significant advantages for financial markets. Benefits include reduced trade risk, lower clearing fund requirements, improved capital utilization, and enhanced operational efficiency. However, for those firms who are still using manual post-trade processes, it is critical that they leverage automated solutions to achieve timely settlement. Further, to ensure a smooth transition by the implementation date of May 28, 2024, comprehensive industry testing is essential, covering end-to-end processes from trade execution to trade settlement and non-standard settlement scenarios.
As part of their preparations, it is crucial for market participants to understand what is required of them to comply with the regulatory mandate, including post-trade processes which are unique to the U.S., such as trade affirmation, which is a critical and unique step in successful trade processing in the region. Assessing operational efficiency and counterparties' performance is also vital as over time, costs associated with late settlements or inefficient processes can add up. With the T+1 implementation date approaching, it is imperative to act now, understand the impact, test rigorously, and automate post-trade processes for T+1 readiness.”
https://www.dtcc.com/dtcc-connection/articles/2024/january/12/outlooks-see-how-we-re-moving-markets-forward?mkt_tok=NjY5LVFJTC05MjEAAAGQvBF7CicA5zpwF4GRtZAWcujud0HRKLRyfOa8MkcQYyZukahGglSWaqwAA4uCQoMQJZXA9RdMDcmNeh2e6Yt3fWd0Rkj4_0A3MnU6cT_lb6MAWg08E_hZtYo
"
Laura Klimpel
Managing Director, General
Manager of Fixed Income
Clearing and Head of SIFMU
Business Development
“Reflecting on 2023, FICC has remained focused on delivering risk management capabilities to the industry and further strengthening the U.S. Treasury market. The SEC recently adopted new rules and amendments that would implement the 2022 expanded U.S. Treasury clearing proposal and require a larger portion of the U.S. Treasury cash and repo markets to be centrally cleared. FICC will take the necessary steps required under the new rules to prepare for this significant undertaking, while working closely with our clients to ensure a successful implementation.
Michele Hillery
General Manager of NSCC’s
Equity Clearing and DTC’s
Settlement Service
“In less than 6 months from now, in May 2024, a new, accelerated T+1 settlement cycle will be introduced in the U.S., Mexico and Canada. This move will deliver multiple benefits to market participants, including a reduction in counterparty risk, reduced margin requirements, improved processing efficiency and increased liquidity. By now, most firms should have already assessed their technology, operations and processes, and made the necessary changes to meet T+1 requirements. Now, it is important that firms turn their attention to testing.
While over 95% of the largest firms are already testing T+1 readiness with DTCC, many of the smaller and medium sized firms have yet to begin. It is critical that firms start testing soon. At the same time, firms must ensure they re-assess their risk management practices related to resiliency. In a T+1 environment, firms will have less time to resolve exceptions or service disruptions. The time to prepare is now.“
Boris, If you believe that they will not chance a leak of the depositions on 4/14/2024 due date, we will see a settlemet before. there will not be a trial IMO
This is big for January 23rd for some of our Legacy value 8.5 Bil
"Settlement Period: The closing will occur on January 23, 2024 which will be more than two U.S. business days after the date of this pricing term sheet. Rule 15c6-1 under the Securities Exchange Act of 1934 generally requires that securities trades in the secondary market settle in two business days, unless the parties to a trade expressly agree otherwise."
Currency:USDSize:$3,000,000,000Maturity:January 23, 2035Fixed Rate Period:
From and including January 23, 2024 to, but excluding, January 23, 2034
https://www.sec.gov/Archives/edgar/data/19617/000162828024001456/jpm-fwp11nc10ftf.htm
Yes that is exactly how I undererstand it. Under US law not state
AZ you truly are a joke. Your means of inflecting pain is out of control. ES
"in my opinion, I doubt that any third party broker' WMB Note' purchases pay-up either ... the third party broker will keep the money, that's in my own opinion !"
Your talking about our financial system I want a win win win
Achieving a seamless transition to
T+1 Settlement
With just a few months to go before the implementation of T+1, Custodians and Broker/Dealers play a critical role in guiding the industry through to a seamless transition. Bob Stewart, DTCC Executive Director, Institutional Trade Processing (ITP), spoke to the importance of having a strategy in place ahead of time, specifically from the Custodian perspective. Read the full article in Global Custodian.