Meet The 171 Banks For Which The Margin Of Failure Is One Thousand Dollars

Tyler Durden's picture

At this point the majority of the population is transfixed by the biggest borrowers from the discount window. Yes, we know by now that the bulk of these were foreign banks, primarily Dexia and Depfa, but that is simply because only Bank Holding Companies, or depository institutions (and yes, last we checked Goldman deposit branches are still sorely missing), are allowed discount window access. Keep in mind that most banks were Investment Banks and not under the BHC umbrella until after the Lehman collapse. Which is why most banks only had access to the PDCF, which is how the Fed eliminated the loophole for emergency liquidity trickling down to everyone. The majority of US investment banks therefore accessed Fed rescue funding via the PDCF, of which JPMorgan and BofNY Mellon were intermediaries due to their position as the only two tri-party repo clearers and keymasters of the shadow banking mechanism. A quick glance at the PDCF confirms that all banks, pre their conversion to Bank Holdings Companies in the week following Lehman's failure, borrowed from the Fed, if not necessarily from the Discount Window (and yes, as Bob Ivry confirmed, Goldman did borrow directly from the Discount Window on at least five occasions post its "depository status" conversion despite Gary Cohn's perjury to the contrary even as Goldman repeatedly dipped in the PDCF both before and after Lehman's failure, even setting the precedent of first pledging defaulted bonds as collateral before any other solvent bank). Yet what we are more concerned by is not the mega borrowings: after all, it makes sense that if you need tens of billions you will go to the Fed. We are far more concerned by the banks for whom the marginal amount of cash was smallest. Below we present the 171 banks that had to access the Discount Window for the paltry sum of $1,000.00. That's right - these are the banks for whom the margin of failure is as low as one thousand dollars. Any readers who have cash deposited with these banks (many of whom have not yet been visited by the FDIC's Failure Friday phenomenon), are urged to immediately remove all funds and run, Forrest, run.

The banks in question:

1St Source Bk
Albany B&Tc Na
Alpha B&Tc
Ameriana Bk Sb
American Eagle Bk
American Nb
Ameristate Bk
Andrew Johnson Bk
Atlantic Coast Bk
Banco Popular N Amer
Bank Of Alpena
Bank Of Dudley
Bank Of Elmwood
Bank Of Fl Se
Bank Of Fl Sw
Bank Of Fl Tampa Bay
Bank Of Hiawassee
Bank Of Marin
Bank Of Miami Na
Bankeast
Bb&T Fncl Fsb
Belmont B&Tc
Benjamin Franklin Bk
Beverly B&Tc Na
Boone Cty Bk
Byron Bk
Capital One Bk Usa Na
Capital One Na
Cedar Rapids B&Tc
Centier Bk
Central Il Bk
Central St Bk
Chain Bridge Bk Na
Chesapeake Bk
Citizens & Farmers Bk
Citizens Bk
Citizens Cmrc Nb
Citizens Nb
Citizens St Bk
Clear Lake B&Tc
Coastal Cmrc Bk
Coastal Fcu
Columbus Cmnty Bk
Community B&Tc
Community Bk Of Tri-Cty
Community Cap Bk
Community First Bk
Communitysouth Bk And Tr
Connecticut Bk & Tr Co
Cornerstone Cmnty Bk
Csb Bk
Dnb First Na
Eaglebank
East Carolina Bk
Eastern Mi Bk
Elizabeth St Bk
Enterprise Nb Of Palm Beac
Enterprise Nb Of Palm Beach
Equitable Bk Ssb
Farmers St Bk
Fidelity Bk
Finance Fact
Finemark Nb&Tc
First Amer B&Tc
First Century Bk
First Century Bk Na
First Chatham Bk
First Cherokee St Bk
First City Bk Of Fl
First Cmnty Bk
First Dupage Bk
First Ga Cmnty Bk
First Nb Danville
First Nb Midwest
First Nb Of Brookfield
First Nb Of Chester Cty
First Nb Of Muscatine
First T&Sb
First Tr Bk
Firstbank Fs
Franklin Svg Bk
Frederick Cty Bk
Freedom Scty Bk
Frontier Bk
Gateway B&Tc
Gateway Bk Of Cent Fl
George D Warthen Bk
Glens Falls Nb&Tc
Grand B&Tc Of Fl
Great Eastern Bk Of Fl
Greeneville Fed Bk Fsb
Harborone Cu
Heritage Bk Central Il
Hinsdale B&Tc
Home Fed Bk Corp
Home S&Lc
Home Svg Bk
Howard Bk
Idaho Tr Nat Bk
Ing Bk Fsb
Integrity First Bk
Irwin Union Bk Fsb
Killbuck Svgs Bk Co
Kress Nb
La Porte Svg Bk
Lake Cmnty Bk
Lloyds Tsb Bk Plc Miami Agy
Main St Bk
Mansfield Co-Op Bk
Marine Bk
Marine Bk Springfield
Mcintosh St Bk
Merchants Bk Of Bangor
Meredith Village Svg Bk
Midcarolina Bk
Middleburg Bk
Millennium Bcpbank Na
Minster Bk
Mitsubishi Ufj Tr & Bkg Ny Br
Morris Bk
Mount Vernon Bk
Mountain Valley Cmnty Bk
Mutual Bk
National B&Tc Of Sycamore
National Bk Indianapolis
Nationwide Bk
Nbt Bk Na
New Frontier Bk
Norstates Bk
North Bk
North Shore Bk A Co-Op Bk
North Shore Bk Fsb
North Shore Cmnty B&Tc
Northmark Bk
Northpointe Bk
Northwest Cmnty Cu
Northwest Ga Bk
Orlando Fcu
Oxford B&T
Park Ave Bk
Patterson Bk
Peachtree Bk
Peoples' Bk Arlington Heights
Pioneer Bk
Pna Bk
Premier Bk
Rainier Pacific Svg Bk
Red River Bk
River Cities Bk
Sandy Spring Bk
Security Nb Of Omaha
Signature Bk
Smartbank
Southwest Ga Bk
Statewide Bk
Sterling Bk
Strategic Cap Bk
Tower B&Tc
Traverse City St Bk
Treynor St Bk
Union Fsb
United B&T
United B&Tc Na
Unity Nb
Village B&Tc
Warren Bk
Washington Tc
Waterstone Bk
Webster Bk Na
Wheaton B&Tc
Whitesville St Bk

For those wondering what the full borrowing histogram looks like by bucket, here it is, by key distributions, with the mode between $10,000,000 and $50,000,000. And on the top side, there were 3 distinct discount window borrowings for over $50 billion, the biggest of which was for $61 billion by, surprise, AIG, and the next two were for CPFF (Commercial Paper Funding Facility) in yet another SPV shell funding scheme.