How to get paid is to be negotiated by the Banks vs FDIC for the Project west case of the the EC, JPMC, FDIC for at least 16 B in Bucket 1(75%/25%). The rest will come this summer in Bucket 2( !00% u's???) Coop and mergers and the DTS's and the execution of the Trusts.
"FDIC wants big banks to shoulder cost of SVB, Signature failures May 11, 2023 11:12 AM ETBank of America Corporation (BAC), JPM, C, WFCSIVBQ, SBNYBy: Max Gottlich, SA News Editor9 Comments
"The Federal Deposit Insurance Corporation proposed that the largest U.S. lenders should pay billions of dollars in additional fees to recover the FDIC's losses from backstopping uninsured depositors at Silicon Valley Bank (OTC:SIVBQ) and Signature Bank (OTC:SBNY), according to a Thursday release.
The FDIC estimated the moves back in March cost its Deposit Insurance Fund around $15.8B. But that figure could change as there are still assets in FDIC receivership that have yet to be liquidated."
Its a great move....COOP is smart gaining alot of traction with mortgage servicing versus mortgage origination. Also would take a loong time to grow organically thus the acquisition of mid to smaller companies..
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