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What about me Boris???????????
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
Our payment schedule
https://www.sec.gov/Archives/edgar/data/19617/000121390023093230/ea166486_424b3.htm
$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
https://www.sec.gov/Archives/edgar/data/19617/000121390023093230/ea166486_424b3.htm
A trigger for the FDIC et al
JPM WINs , gov wins, hedgies wins, and we all run like hell. Even coop will do well.
Yes schwab has 68% of released legacy
Why do you continue to harass people. The point is the claim that were acceptible.
3954 12/04/2023 STIPULATION AND ORDER OF DISMISSAL WITH PREJUDICE AS TO DEFENDANT THE NORINCHUKIN BANK PURSUANT TO FED. R. CIV. P. 41(a)(1)(A)(ii): IT IS HEREBY STIPULATED AND AGREED between Plaintiffs in the above-captioned actions (collectively, "Schwab Actions") and Defendant The Norinchukin Bank ("Norinchukin") that all of Plaintiffs' claims asserted against Norinchukin in the Schwab Actions are dismissed with prejudice, in accordance with Federal Rule of Civil Procedure 41(a)(1)(A)(ii), without interest to any party and with each party to bear its own attorneys' fees and costs. For the avoidance of doubt, this dismissal applies only to Norinchukin and not to Plaintiffs' claims against other defendants in the Schwab Actions, which Plaintiffs are continuing to pursue. SO ORDERED. Norinchukin Bank terminated. (Signed by Judge Naomi Reice Buchwald on 12/4/2023) Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-06409-NRB, 1:11-cv-06411-NRB, 1:11-cv-06412-NRB, 1:13-cv-07005-NRB
3953 12/04/2023 ORDER granting [3950] Motion for Samantha Derksen to Appear Pro Hac Vice. (Signed by Judge Naomi Reice Buchwald on 12/4/2023)
19m
Reply
$8.00????????????
My best quess is 15%-30% of 800 Bil. This came from the way they estimated the value of Lehman MBS in court.
Merger with JPM
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 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 official professional in this guess 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/.../jpmc-acquires...
JPMORGANCHASE.COM
JPMorgan Chase acquires substantial majority of assets and assumes certain liabilities of First Republic Bank
Remember what was speculated for at least 2-3 years
"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"
Bucket 1 is Imminent "Project West" and will happen before bucket 2 To be completed by May 28th, 2024 (per alice 's estimate of 18 months). IMO?
It could come simultaneously the longer it goes.
FDIC is the Key to open up the Flood gates and for Biz "Soon"
Most Important #'s and on JPM site as press release on the JPM site
· ·Admin
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.../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
Royal Dude
Re: None
Saturday, November 25, 2023 1:18:42 PM
Post# of 719336 Go
I am still hoping for an EOY payment but this is how they will Fund it Bucket 1 over 2 years. Bucket 2 May 28th in Spring of 2024.
"The Federal Deposit Insurance Corporation (FDIC) Board of Directors approved a final rule to implement a special assessment to recover the loss to the Deposit Insurance Fund (DIF) associated with protecting uninsured depositors following the closures of Silicon Valley Bank and Signature Bank. The Federal Deposit Insurance Act (FDI Act) requires the FDIC to take this action in connection with the systemic risk determination announced on March 12, 2023.
Under the final rule, the banks that benefited most from the assistance provided under the systemic risk determination will be charged a special assessment to recover losses to the DIF resulting from the protection of uninsured depositors. In general, large banks and regional banks, and particularly those with large amounts of uninsured deposits, were the banks most vulnerable to uninsured deposit runs and benefited most from the stability provided under the systemic risk determination.
The FDIC estimates that 114 banking organizations will be subject to the special assessment, including 48 banking organizations with total assets over $50 billion and 66 banking organizations with total assets between $5 and $50 billion. No banking organizations with total assets under $5 billion will pay a special assessment, based on data for the December 31, 2022 reporting period.
Currently, the FDIC estimates that of the total cost of the failures of Silicon Valley Bank and Signature Bank, approximately $16.3 billion was attributable to the protection of uninsured depositors. These loss estimates will be periodically adjusted as assets are sold, liabilities are satisfied, and receivership expenses are incurred.
The special assessment will be collected at an annual rate of approximately 13.4 basis points for an anticipated total of eight quarterly assessment periods. Because the estimated loss pursuant to the systemic risk determination will be periodically adjusted, the FDIC retains the ability to cease collection early, impose an extended special assessment collection period after the initial eight-quarter collection period to collect the difference between losses and the amounts collected, and impose a one-time final shortfall special assessment after both receiverships terminate.
The special assessment will be collected beginning with the first quarterly assessment period of 2024 (i.e., January 1 through March 31, 2024) with an invoice payment date of June 28, 2024.
https://www.fdic.gov/.../special-assessment-final-rule-11...
Special assessment
66.3 Billion invoice payment 6/28/ 2024
Bullish
BULLISH
The Depository Trust Company (DTC) will be closed for business on Monday, January 1,
2024.
NEW YEAR’S DAY 2024 SCHEDULE
TRADE
DATE
T+1
SETTLEMENT
T+2
SETTLEMENT
12/27/23 12/28/23 12/29/23
12/28/23 12/29/23 01/02/24
12/29/23 01/02/24 01/03/24
01/01/24 NO SETTLEMENT SERVICES
01/02/24 01/03/24 01/04/24
https://www.dtcc.com/-/media/Files/pdf/2023/12/1/19331-23.pdf
Thanks LG, great find as lehman goes wamu goes. We are too intertwined to not be the Mirror of Wamu. Washington Mutual Bank has been wiped out in our written language.
https://www.bloomberg.com/news/articles/2023-11-29/deutsche-bank-scores-big-win-on-lehman-brothers-ecaps-debts
https://finance.yahoo.com/news/deutsche-bank-scores-big-win-172218995.html
Something is going on but now I am going to sleep and dream that this is for Legacy P's and Qu's
The Charles Schwab Corporation
Debt Securities
Preferred Stock
Depositary Shares
Common Stock
Purchase Contracts
Warrants
Units Consisting of Two or More Securities
Charles Schwab files for mixed shelf
Dec. 01, 2023 4:54 PM ETThe Charles Schwab Corporation (SCHW)By: Jaskiran Singh, SA News Editor1 Comment
The Charles Schwab Corporation (NYSE:SCHW) Friday filed a prospectus for a mixed shelf offering without disclosing the amount.
This prospectus is not an offer to sell these securities.
SEC Filing
https://seekingalpha.com/.../4042495-charles-schwab-files...
The Charles Schwab Corporation (SCHW) - FORM S-3ASR | Automatic shelf registration statement of securities of well-known seasoned issuers
Dec. 01, 2023 4:48 PM ETThe Charles Schwab Corporation (SCHW)
The date of this prospectus is December 1, 2023
TABLE OF CONTENTS
29TABLE OF CONTENTSPageABOUT THIS PROSPECTUS1RISK FACTORS2FORWARD-LOOKING STATEMENTS2WHERE YOU CAN FIND MORE INFORMATION3THE CHARLES SCHWAB CORPORATION4USE OF PROCEEDS5DESCRIPTION OF DEBT SECURITIES6DESCRIPTION OF PREFERRED STOCK12DESCRIPTION OF DEPOSITARY SHARES15DESCRIPTION OF COMMON STOCK17DESCRIPTION OF PURCHASE CONTRACTS19DESCRIPTION OF WARRANTS19DESCRIPTION OF UNITS22GLOBAL SECURITIES23PLAN OF DISTRIBUTION (CONFLICTS OF INTEREST)27VALIDITY OF SECURITIES29EXPERTS
Here comes my broker of choice sub and TDameritrade to give the FDIC our legacy equity list'
"395212/01/2023PROPOSED STIPULATION AND ORDER. Document filed by 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.
https://www.docketbird.com/court-cases/In-Re-Libor-Based-Financial-Instruments-Antitrust-Litigation/nysd-1:2011-md-02262
"Unrealized losses on securities totaled $683.9 billion in the third quarter, up $125.5 billion (22.5 percent) from the prior quarter. Unrealized losses on held-to-maturity securities totaled $390.5 billion in the third quarter, while unrealized losses on available-for-sale securities totaled $293.5 billion."
Press Release
FDIC-Insured Institutions Reported Net Income of $68.4 Billion in Third Quarter 2023
Wednesday, November 29, 2023
https://www.fdic.gov/news/press-releases/2023/pr23099.html
We are all part of it in WMI it will be a great stock but legacy will be the benefactor in U's and P's no sense in pumping Bob
Press Release
FDIC-Insured Institutions Reported Net Income of $68.4 Billion in Third Quarter 2023
Should be enough to pay off Anico/ Project West ,"The First Bucket" by Christmas or December 12th at the FDIC Fair and reasonable Hearing JMO
This could also go out to December 18th so hang tough
ORDER: WHEREAS no class member has objected to the settlements that will be addressed at the fairness hearing scheduled for December 12, 2023 at 11:00 a.m. (the "Fairness Hearing"); and WHEREAS the OTC Plaintiffs have filed written submissions regarding the fairness, reasonableness, and adequacy of those settlements, the Court will hold the Fairness Hearing telephonically. Chambers will post dial-in instructions on the MDL and OTC Plaintiff Action dockets on the morning of December 12, 2023. (Signed by Judge Naomi Reice Buchwald on 11/27/2023) Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-05450-NRB.
https://www.fdic.gov/news/press-releases/2023/pr23099.html
Press Release
FDIC-Insured Institutions Reported Net Income of $68.4 Billion in Third Quarter 2023
Should be enough to pay off Anico/ Project West ,"The First Bucket" by Christmas or December 12th at the FDIC Fair and reasonable Hearing JMO
This could also go out to December 18th so hang tough
ORDER: WHEREAS no class member has objected to the settlements that will be addressed at the fairness hearing scheduled for December 12, 2023 at 11:00 a.m. (the "Fairness Hearing"); and WHEREAS the OTC Plaintiffs have filed written submissions regarding the fairness, reasonableness, and adequacy of those settlements, the Court will hold the Fairness Hearing telephonically. Chambers will post dial-in instructions on the MDL and OTC Plaintiff Action dockets on the morning of December 12, 2023. (Signed by Judge Naomi Reice Buchwald on 11/27/2023) Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-05450-NRB.
https://www.fdic.gov/news/press-releases/2023/pr23099.html
Totally from a constant Believer in F&R
Press Release
FDIC-Insured Institutions Reported Net Income of $68.4 Billion in Third Quarter 2023
Should be enough to pay off Anico/ Project West ,"The First Bucket" by Christmas or December 12th at the FDIC Fair and reasonable Hearing JMO
This could also go out to December 18th so hang tough
ORDER: WHEREAS no class member has objected to the settlements that will be addressed at the fairness hearing scheduled for December 12, 2023 at 11:00 a.m. (the "Fairness Hearing"); and WHEREAS the OTC Plaintiffs have filed written submissions regarding the fairness, reasonableness, and adequacy of those settlements, the Court will hold the Fairness Hearing telephonically. Chambers will post dial-in instructions on the MDL and OTC Plaintiff Action dockets on the morning of December 12, 2023. (Signed by Judge Naomi Reice Buchwald on 11/27/2023) Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-05450-NRB.
https://www.fdic.gov/news/press-releases/2023/pr23099.html
Large tell that to the hedge funds
PRESS RELEASE | NOVEMBER 29, 2023
FDIC-Insured Institutions Reported Net Income of $68.4 Billion in Third Quarter 2023
Net Income Decreased From the Prior Quarter, Driven By Lower Noninterest Income and Higher Realized Losses on Securities
The Net Interest Margin Increased From the Prior Quarter to 3.30 Percent
Unrealized Losses on Securities Increased From the Prior Quarter
Community Banks Reported Lower Net Income From the Prior Quarter
Loan Balances Increased From Last Quarter and One Year Ago
Total Deposits Declined For a Sixth Consecutive Quarter
Asset Quality Metrics Remained Favorable Despite Modest Deterioration
The Deposit Insurance Fund Reserve Ratio Rose to 1.13 Percent
https://www.fdic.gov/news/speeches/2023/spnov2923.html?source=govdelivery&utm_medium=email&utm_source=govdelivery
ORDER: WHEREAS no class member has objected to the settlements that will be addressed at the fairness hearing scheduled for December 12, 2023 at 11:00 a.m. (the "Fairness Hearing"); and WHEREAS the OTC Plaintiffs have filed written submissions regarding the fairness, reasonableness, and adequacy of those settlements, the Court will hold the Fairness Hearing telephonically. Chambers will post dial-in instructions on the MDL and OTC Plaintiff Action dockets on the morning of December 12, 2023. (Signed by Judge Naomi Reice Buchwald on 11/27/2023) Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-05450-NRB.
12/12 NYSD Fair and reasonable Hearing
On or before December 5, 2018
9.
On or before December 5, 2018, (i) Claimants holding Surviving Claims shall submit supplemental briefing and evidence in support of the allowance of the Surviving Claims, and (ii) WMILT and Claimants holding Surviving Claims shall submit briefing and any evidence supporting their respective requests for attorneys’ fees.
10.
On or before December 17, 2018, (i) WMILT shall submit its response to Claimants’ December 5th supplemental briefing, inclusive of any evidence regarding the allowance or disallowance of the Surviving Claims, and (ii) WMILT and Claimants holdingSurviving Claims shall submit their respective response in opposition to any request for attorneys’ fees, inclusive of any evidence in support of their opposition.
11.
Upon review of the parties’ submissions, the Court will direct the parties regarding next steps, including with respect to the scheduling of a hearing on the parties’ submissions and the allowance or disallowance of the Surviving Claims.
Agree Boris
"We must be strong in the face of evil at this time of year. The most pressure we are feeling in the conditions of wars and Holiday pressures . It is a time that good is bad and bad is good. We are all bleeding and are going through the same thing. Do not allow yourself here to submit to the warfare and battle We are in this in Spirit and know that we are in the legal right. Our strength in numbers is our strength here. We are in the world and its deception but protected by the power of our God and his truth. I still pray for those that do not have the extra protection. In this travesty may all of our collective be Blessed. Stay strong and know we are very close to a remedy."
Could be a day to allow for t+1 in a system of t+4 or a way to enter a large settlement, trigger
On December 11, 2023, the Government Securities Division (“GSD”) and the MortgageBacked Securities Division (“MBSD”) of the Fixed Income Clearing Corporation (“FICC”) will be closed in the PSE test region as part of the Bank Holiday processing simulation for DTCC T+1 industry testing. No trade input will be accepted in the test region on this date.
https://www.dtcc.com/-/media/Files/pdf/2023/11/28/MBS1285-23.pdf
WASHINGTON — The Federal Deposit Insurance Corporation's (FDIC's) Systemic Resolution Advisory Committee (SRAC) will meet on Tuesday, December 5, 2023, at 9:00 am ET. The SRAC provides advice and recommendations to the FDIC on a broad range of policy issues regarding the resolution of systemically important financial institutions. The meeting will facilitate discussion of the FDIC’s resolution authority granted under the Dodd-Frank Act of 2010, to manage the orderly resolution of large, complex financial institutions whose failure could threaten U.S. financial stability, and under the Federal Deposit Insurance Act to manage the failure of regional banks which might have financial stability implications.
The FDIC has also named two new members to the SRAC, which will now comprise 19 members. Committee members have a wide range of experience managing complex firms; administering bankruptcies; and working in the legal, financial, regulatory, and academic fields.
12/12 NYSD Fair and reasonable Hearing
On or before December 5, 2018
9.
On or before December 5, 2018, (i) Claimants holding Surviving Claims shall submit supplemental briefing and evidence in support of the allowance of the Surviving Claims, and (ii) WMILT and Claimants holding Surviving Claims shall submit briefing and any evidence supporting their respective requests for attorneys’ fees.
10.
On or before December 17, 2018, (i) WMILT shall submit its response to Claimants’ December 5th supplemental briefing, inclusive of any evidence regarding the allowance or disallowance of the Surviving Claims, and (ii) WMILT and Claimants holdingSurviving Claims shall submit their respective response in opposition to any request for attorneys’ fees, inclusive of any evidence in support of their opposition.
11.
Upon review of the parties’ submissions, the Court will direct the parties regarding next steps, including with respect to the scheduling of a hearing on the parties’ submissions and the allowance or disallowance of the Surviving Claims.
For the 1st disribution on Dec 18th from BAC and the rest for the next 3 years for escrow distribution.
Interest will be paid on March 18, June 18, September 18 and December 18 of each year, commencing on March 18, 2021, with the final interest payment date occurring on the maturity date.?The notes will accrue interest at the following rates per annum during the indicated periods of their term: oDecember 18, 2020 to but excluding December 18, 2022:0.40%; oDecember 18, 2022 to but excluding June 18, 2023:0.50%; and oJune 18, 2023 to but excluding December 18, 2023:0.55%;
https://secfilings.nasdaq.com/filingFrameset.asp?FilingID=14518166&RcvdDate=11%2F20%2F2020&CoName=BANK%20OF%20AMERICA%20CORP%20%2FDE%2F&FormType=424B2&View=html&fbclid=IwAR1jNC9cZ9E-PpuF5H6PB7fa8U_-DMAMhhzuzW5dGR_3X6GkiMzEhEdua3c
Trigger dates:
11/21 Distribution within 2 months/ January 1/21/23 LBHI
11/20 NYSC Drop dead for settlement money FDIC
11/27 DTCC destruction of documents
12/5 Bond redempton12/12 NYSD Fair and reasonable Hearing 12/15 Bond redemption12/18 Bonds to be redeemed for
12/18 settlement distribution
12/27 Last day to close
1/21 "TWO Months of 11/21, putting the receipt of release smack dab into 2024's taxing year ! ! ... 01/21/2024"
We must be strong in the face of evil at this time of year. The most pressure we are feeling in the conditions of wars and Holiday pressures . It is a time that good is bad and bad is good. We are all bleeding and are going through the same thing. Do not allow yourself here to submit to the warfare and battle We are in this in Sprit and know that we are in the legal right. Our strength in numbers is our strength here. We are in the world and its deception but protected by the power of our God and his truth. I still pray for those that do not have the extra protection. In this travesty may all of our collective be Blessed. Stay strong and know we are very close to a remedy.
$$$$= 66.3 b
Players
Timing
What else does anyone want
Fits with May 1st JPM PRESS Release on merger
Sorry BIZ 66.3 billion
116 billion is the answer Biz
They are to intertwined FootBall
I am still hoping for an EOY payment but this is how they will Fund it Bucket 1 over 2 years. Bucket 2 May 28th in Spring of 2024.
"The Federal Deposit Insurance Corporation (FDIC) Board of Directors approved a final rule to implement a special assessment to recover the loss to the Deposit Insurance Fund (DIF) associated with protecting uninsured depositors following the closures of Silicon Valley Bank and Signature Bank. The Federal Deposit Insurance Act (FDI Act) requires the FDIC to take this action in connection with the systemic risk determination announced on March 12, 2023.
Under the final rule, the banks that benefited most from the assistance provided under the systemic risk determination will be charged a special assessment to recover losses to the DIF resulting from the protection of uninsured depositors. In general, large banks and regional banks, and particularly those with large amounts of uninsured deposits, were the banks most vulnerable to uninsured deposit runs and benefited most from the stability provided under the systemic risk determination.
The FDIC estimates that 114 banking organizations will be subject to the special assessment, including 48 banking organizations with total assets over $50 billion and 66 banking organizations with total assets between $5 and $50 billion. No banking organizations with total assets under $5 billion will pay a special assessment, based on data for the December 31, 2022 reporting period.
Currently, the FDIC estimates that of the total cost of the failures of Silicon Valley Bank and Signature Bank, approximately $16.3 billion was attributable to the protection of uninsured depositors. These loss estimates will be periodically adjusted as assets are sold, liabilities are satisfied, and receivership expenses are incurred.
The special assessment will be collected at an annual rate of approximately 13.4 basis points for an anticipated total of eight quarterly assessment periods. Because the estimated loss pursuant to the systemic risk determination will be periodically adjusted, the FDIC retains the ability to cease collection early, impose an extended special assessment collection period after the initial eight-quarter collection period to collect the difference between losses and the amounts collected, and impose a one-time final shortfall special assessment after both receiverships terminate.
The special assessment will be collected beginning with the first quarterly assessment period of 2024 (i.e., January 1 through March 31, 2024) with an invoice payment date of June 28, 2024.
https://www.fdic.gov/.../special-assessment-final-rule-11...
Special assessment
66.3 Billion invoice payment 6/28/ 2024
Bullish
BULLISH
I am still hoping for an EOY payment but this is how they will Fund it Bucket 1 over 2 years. Bucket 2 May 28th in Spring of 2024.
"The Federal Deposit Insurance Corporation (FDIC) Board of Directors approved a final rule to implement a special assessment to recover the loss to the Deposit Insurance Fund (DIF) associated with protecting uninsured depositors following the closures of Silicon Valley Bank and Signature Bank. The Federal Deposit Insurance Act (FDI Act) requires the FDIC to take this action in connection with the systemic risk determination announced on March 12, 2023.
Under the final rule, the banks that benefited most from the assistance provided under the systemic risk determination will be charged a special assessment to recover losses to the DIF resulting from the protection of uninsured depositors. In general, large banks and regional banks, and particularly those with large amounts of uninsured deposits, were the banks most vulnerable to uninsured deposit runs and benefited most from the stability provided under the systemic risk determination.
The FDIC estimates that 114 banking organizations will be subject to the special assessment, including 48 banking organizations with total assets over $50 billion and 66 banking organizations with total assets between $5 and $50 billion. No banking organizations with total assets under $5 billion will pay a special assessment, based on data for the December 31, 2022 reporting period.
Currently, the FDIC estimates that of the total cost of the failures of Silicon Valley Bank and Signature Bank, approximately $16.3 billion was attributable to the protection of uninsured depositors. These loss estimates will be periodically adjusted as assets are sold, liabilities are satisfied, and receivership expenses are incurred.
The special assessment will be collected at an annual rate of approximately 13.4 basis points for an anticipated total of eight quarterly assessment periods. Because the estimated loss pursuant to the systemic risk determination will be periodically adjusted, the FDIC retains the ability to cease collection early, impose an extended special assessment collection period after the initial eight-quarter collection period to collect the difference between losses and the amounts collected, and impose a one-time final shortfall special assessment after both receiverships terminate.
The special assessment will be collected beginning with the first quarterly assessment period of 2024 (i.e., January 1 through March 31, 2024) with an invoice payment date of June 28, 2024.
https://www.fdic.gov/.../special-assessment-final-rule-11...
Special assessment
66.3 Billion invoice payment 6/28/ 2024
Ray this may help
393511/22/2023DECLARATION of Kay Ruvolo of Angeion Group LLC in Support re: (3870 in 1:11-md-02262-NRB, 643 in 1:11-cv-05450-NRB) MOTION to Approve 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, (638 in 1:11-cv-05450-NRB, 3865 in 1:11-md-02262-NRB) MOTION for Attorney Fees OTC Plaintiffs' Notice of Motion and Motion for Attorneys Fees and Reimbursement of Litigation Expenses. Document filed by Mayor and City Council of Baltimore. Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-05450-NRB.
393411/22/2023JOINT REPLY MEMORANDUM OF LAW in Support re: (3870 in 1:11-md-02262-NRB, 643 in 1:11-cv-05450-NRB) MOTION to Approve 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, (638 in 1:11-cv-05450-NRB, 3865 in 1:11-md-02262-NRB) MOTION for Attorney Fees OTC Plaintiffs' Notice of Motion and Motion for Attorneys Fees and Reimbursement of Litigation Expenses. Document filed by Mayor and City Council of Baltimore. Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-05450-NRB.
"The proposal includes transition provisions to give banks sufficient time to adapt to the changes
while minimizing any potential adverse impact. It would also allow banks to count, as part of
the required amounts, certain existing long-term debt.
Comments on the proposal are due by November 30, 2023."
https://www.fdic.gov/news/press-releases/2023/pr23065a.pdf