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Fed Releases Bailout Data
Press Release
Release Date: December 1, 2010
For immediate release
The Federal Reserve Board on Wednesday posted detailed
information on its public website about more than 21,000 individual
credit and other transactions conducted to stabilize markets during the
recent financial crisis, restore the flow of credit to American families
and businesses, and support economic recovery and job creation in the
aftermath of the crisis.
Many of the transactions, conducted through a variety of
broad-based lending facilities, provided liquidity to financial
institutions and markets through fully secured, mostly short-term loans.
Purchases of agency mortgage-backed securities (MBS) supported mortgage
and housing markets, lowered longer-term interest rates, and fostered
economic growth. Dollar liquidity swap lines with foreign central banks
helped stabilize dollar funding markets abroad, thus contributing to the
restoration of stability in U.S. markets. Other transactions provided
liquidity to particular institutions whose disorderly failure could have
severely stressed an already fragile financial system.
As financial conditions have improved, the need for the
broad-based facilities has dissipated, and most were closed earlier this
year. The Federal Reserve followed sound risk-management practices in
administering all of these programs, incurred no credit losses on
programs that have been wound down, and expects to incur no credit
losses on the few remaining programs. These facilities were open to
participants that met clearly outlined eligibility criteria;
participation in them reflected the severe market disruptions during the
financial crisis and generally did not reflect participants' financial
weakness.
The Federal Reserve is committed to transparency and has
previously provided extensive aggregate information on its facilities in
weekly and monthly reports. As provided by the Dodd-Frank Wall Street
Reform and Consumer Protection Act of 2010, transaction-level details
now are posted from December 1, 2007, to July 21, 2010, in the following
programs:
- Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF)
- Term Asset-Backed Securities Loan Facility (TALF)
- Primary Dealer Credit Facility (PDCF)
- Commercial Paper Funding Facility (CPFF)
- Term Securities Lending Facility (TSLF)
- TSLF Options Program (TOP)
- Term Auction Facility (TAF)
- Agency MBS purchases
- Dollar liquidity swap lines with foreign central banks
- Assistance to Bear Stearns, including Maiden Lane
- Assistance to American International Group, including Maiden Lane II and III
Additionally, discount window and open market operation
transactions after July 21, 2010, will be posted with a two-year lag.
The data made available Wednesday can be downloaded in multiple formats, including Excel, at www.federalreserve.gov/newsevents/reform_transaction.htm.
The Excel files allow users to search, sort, and filter the data for
each program in multiple categories. The site also provides explanations
of each program as well as definitions for the data elements.
In the case of broad-based facilities, details provided include
the name of the borrower, the amount borrowed, the date the credit was
extended, the interest rate charged, information about collateral, and
other relevant credit terms. Similar information is provided for the
draws of foreign central banks on their dollar liquidity swap lines with
the Federal Reserve. For agency MBS transactions, details include the
name of the counterparty, the security purchased or sold, and the date,
amount, and price of the transaction.
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Godspeed Mr.Durden
Financial instruments in the Pool will remain on the books of institution but will be appropriately “ring?fenced.” Turning shit into Shinola.
Hmmm...this is interesting:
12-01 12:18: Goldman Sachs sees Gold prices to peak near USD 1750 per ounce in 2012, citing rising US real interest rates
you mean what they say in private is different?
i pray nothing happens between South and North Korea...otherwise, that target might be achieved within next couple of months...
now let's all go to the article on Dimon in the NYTs, and ask them if they plan to highlight this data in the same location and point size this afternoon........
http://community.nytimes.com/comments/www.nytimes.com/2010/12/05/magazine/05Dimon-t.html?sort=oldest&offset=2
What a putrid PR piece that is. Still waiting for my comments on it to be "moderated".
Nonetheless, using the opportunity provided by the NYT to provide transperancy into the crimes of JPM shouldn't be passed up.
Do you think Dimon is gearing up JPM's PR machine prior to the Wikileaks story of the TBTF bank to arrive in January?
What i love is zero media coverage of this
http://www.nj.com/cranford/index.ssf/2010/12/cranford_man_pleads_guilty_to.html
Thanks for posting that. Frankly, that's nothing short of shocking it gets no media coverage. Sickening, in fact. It's all fraud, all of it.
Its possible that is one intention. But first Timmay will need to be found laying under a bus and Jamie CON-Firm-ed by the SINate as the new Treasury SECRETary.
I just love it when they lie through their teeth while denying they're doing so. I guess it's Ying and Yang in balance in some perverted way.
They ARE committed to transparency; note the little dots...... (Like those to the left, here.) They precede the modifing clauses such as: when we must, or when required by law, or when we absolutely have to or get our nutsacks removed, or after we've redacted the information until it's fucking useless, or we'll get to it when we can, a little short handed today, luv.....
It's kind of like the pursuit of happiness, you're never guaranteed to get there, but you can pursue it.
Wasn't it Exxon who advertised their commitment to the environment, when in reality they had been court ordered to clean up after the Exxon Valdez?
yeah as transparent as a heeping pile of steaming horse chips.....
Yin
Slow FRB website is sloooow.
Everyone and their brother is busy downloading the latest release of Fed approved financial porn. You can bet the vast majority are doing so in an attempt to figure out a way to game the gamers.
Pig pile.
Bets on which bank will be blasted first?
my bad
2 year lag?
Don't even bother looking, it's been completely scrubbed clean.
Big surprise, they paid 100% or more of face value for everything. Who benefitted from this bonanza? Why the primary dealers of course. No telling what they paid on the back end to acquire the garbage.
Source: mbs.xls file showing detailed agency MBS purchases.
SPX up 25 now... must be a damn good report.
Exerpt:
"The Federal Reserve is committed to transparency..."
Wow, these criminals have some massive balls, no?
Balls are only required when there's some actual risk involved. The Fed and it's compliant financial control system have things well under control. At least for the moment.
In fact, part of the control is the reassurance to the financial system that the Fed is still willing to lie, lie and lie some more.
So few even listen to what they're saying (too busy with Black Friday, Dancing with the Stars, etc...) they can say whatever they want.
Go discuss economics on reddit, and you'll find moron Keynesian economics students who will stop at nothing to defend the BLS, and the Federal Reserve.
They brainwash their minions well.
And just why would I waste my breath on mouth breathing pieces of shit?
mad python skilz
Fascinating that the Banco De Mexico participated in the currency swaps and the Swiss National Bank was so active....
Can you explain the mbs actions it looks like they bought and sold on same date neighboring cusips with similiar terms, always losing on spread
I'm going to work on that. I'm wondering it they laundered the losses on the agency paper through the Federal Home Loan Banks....
indeed.. those UBS boys were busy
interesting indeed....
Who makes the rules? The question is moot. We make the rules!
Self regulation, bitchez!
-----------------------------------------------------------------------------
Amschel Mayer Rothschild (1773-1855), who in 1838 said, "Permit me to issue and control the money of a nation, and I care not who makes its laws."
Here is his heir's close-up on Bloomberg, today:
http://noir.bloomberg.com/apps/news?pid=20601010&sid=auYQh8N_qZuU
And don't forget to sort out the MBS acquisitions. There's a who's who of crap distributors there, I'll try to get a graph by bank on that up later....
Of course "These facilities were open to participants that met clearly outlined eligibility criteria; participation in them reflected the severe market disruptions during the financial crisis and generally did not reflect participants' financial weakness."
It was all just one big experiment -- just in case. There really never was any crisis Mr. and Mrs. Stupid Ass American -- None of these banks really needed the money -- repeat NONE of them were ever in any danger. We just forced them to take 3 Trillion just in case -- but no worries -- we didn't lose a thin dime of your money.
can this data be trusted?
Blindly, I'm sure. After all - what could they poooooossibly have to hide?
elohel
THANKS FOR THE LAUGH!!
Your welcome. I just ask the obvious... because it's like asking the liar to tell the truth...
you'd be suprised how often liars accidentally do tell
Well, there are liars.. and then there is Ben Bernanke and his henchmen
Oh boy, this is going to be fun!
how much did Waddle & Reed get, or was that Reed & Waddle, or Widdle de Dump, or just Larry, Moe and Curly......?
Here, I just made this ;-)
How's BofA look?
Like shit. PDCF activity:
$638 billion
MBS sold from Merrill Lynch Division of BoA:
$4,835,000,000
Don't forget "Hudson Castle", which was really Lehman in disguise. They were hitting it up big all along. Huffington Post and others got this one right.
Fascinating. Lehman hit the PDCF for $68 billion September 15, 16, & 17th right before going tits up..
Exerpt:
"The Federal Reserve is committed to transparency..."
Wow, these criminals have some massive balls, no?
If truth reigned supreme, it would have read:
"We are only, begrudgingly releasing this data, after being sued in federal court, and after losing an appeal we decided to take, and because we decided that the SCOTUS would probably not reverse the decision (and also because of the WikiLeak data that will come), and the data we are releasing has been cherry picked, highly fudged and misstated, and the really good and juicy stuff is still being withheld by us, as its disclosure may cause even American Sheeple to revolt. Thank you."
Interesting to see how many gov entities went to the TALF window. Even more interesting is how many of them used credit cards as collateral.
Oh, and if you lived in Wilmington, DE, odds are you got paid.
PIMCO, what a joke.
My feeling too - how come PIMCO appear so often and so deep. I was expecting the banks et al but not Gross and Co!
David and Golieth! Thank you TD!
Thank you Mark Pittman, RIP.
How much taxpayer money went over seas is what's going to be interesting.
Well, there's you clue as to why Allied Irish went TU.
TAF borrowings:
$34,700,000,000
They were insovlent in 2009, the Fed and Irish government along with the Brits just kept the charade going a little bit longer...
FWIW, the TAF spreadsheet is another who's who of insolvency.....
you should have been reading the Irish Times...lot's of money "disappearing." hide in plain sight of course. intereresting that "the Bank Prez wasn't home when the pitchforks came calling."
Thanks, this is an interesting and timely bit of news.
[added]
The Fed on TAF:
Whoops!
was the WikiLeaks bank release timing a coincidence?
Bank of America is finished .....................2 years ago
What does it mean that CALPERS took out TALF loans (in the billions...)?
Interesting....I thought the Fed could only buy AAA paper. But they finally admit that within Maiden Lane I there is AA+ or lower....and a lot of crap mixed in that I might add...
This is in its charter. My understanding is that they invoked a little-known rule of Calvinball to get around it.
The AIG and Maiden Lanes are juicy...bring the A1 and some good bourbon while digesting those suckers...just scanning them now.
Apparently they thought it would be good idea to cross the streams. Haha.
Alas, but Chapter 11 protections were not deemed adequate vouchsafe for the sack-assed princes of privalege and filthy lucre...
Oh they're "crossing streams" alright. some might even call them "raging rivers...
For those of us who don't have a fucking clue at what we are looking at, thanks to all of you for the hard work. Looking forward to the laymans read.
Morgan Stanley borrowed $2 trillion from The Bernank during the financial crisis. Are you fucking kidding me?
The Bernank must go...immediately!
TAF DATA: Huge foreign bank support by Fed...but read closely: biggest recipients are "our cousins" (read partners in crime) in the Big Wall Street Ponzi:
$232 Billion to Barclay's, $124 Billion to Soc Gen, $123 to Dressner....
The TAF dwarfed the TARP! The $800 Bazooka was actually meant as a smoke screen for far larger amounts passed under the table to partners in crime.
Ask yourself: Why would the US FED bail out certain foreign banks with US taxpayer dollars? Because they're the incestuous kissing cousins of Wall Street banks. When they sell each other derivatives its not really a transaction. It's not really business. It just builds a pyramid scheme no different than that stupid chain letter you've gotten in the mail that guarantees to make you money.
So since nothing has been fixed or changed as a consequence of the crisis, look for the same business model to recur and expand: Wall Street will look for new potential partners in crime, my guess is in Asia where they're hungry for a little sleaze. And when the chain letter scheme built with derivatives collapses, the Fed will be right there with more secret funds and bailout money. And then they'll cut more out of social security to pay for it like now.
I'm just now getting here, good get on Barclays -- I was guessing that one and Soc Gen. the usual suspects.
We all work for them - for life.
All the fraud was run thru AIG
Wednesday, December 01, 2010 12:43:03 PM
Citigroup Inc Citigroup, Bank of America the largest users of the Fed PDFC lending facility, according to records released today - CNBC's Kelly
- Citi and BoA each took total loans over $1T over the period, though sources telling CNBC the numbers may be inflated by double counting.
Have Market Intel? TradeTheNews.com Tip Line -> Click Here
It is interesting to me that stocks surged again, and the Dollar tanked again ten minutes BEFORE the release time of the Fed. Someone had access to the information BEFORE the general release to the public!
There are no more free marrkets! There is NO free enterprise, and there is no more freedom, in America! There is only the kleptocratic plutocracy! The oligarchs rule!
ZH is awesome. Please tell me what this all means. I'm only smarter than a 5th grader.
"Federal Reserve is committed to transparency" -- made me LOL.
Money Market Funds, MBS, foreign banks -- looks like liquidity run-on-bank type stuff, but it doesn't stop there...much more.
There's alot there, for sure, and the discount window is kept dark. If numbers are given for these, a little math should give an idea about the discount window.
although there is nothing FEDERAL about the federal reserve, that is a very official looking symbol those criminals have
Don't forget the secret handshakes. That's what really makes 'em legit.
The FED is proving it can gun the market 2% whenever it wants. All I can say is holy shit and stand off to the side.
FEDI-Leaks!!