Meet The 35 Foreign Banks That Got Bailed Out By The Fed (And This Is Just The CPFF Banks)

Tyler Durden's picture

One may be forgiven to believe that via its FX liquidity swap lines the Fed only bailed out foreign Central Banks, which in turn took the money and funded their own banks. It turns out that is only half the story: we now know the Fed also acted in a secondary bail out capacity, providing over $350 billion in short term funding exclusively to 35 foreign banks, of which the biggest beneficiaries were UBS, Dexia and BNP. Since the funding provided was in the form of ultra-short maturity commercial paper it was essentially equivalent to cash funding. In other words, between October 27, 2008 and August 6, 2009, the Fed spent $350 billion in taxpayer funds to save 35 foreign banks. And here people are wondering if the Fed will ever allow stocks to drop: it is now more than obvious that with all banks leveraging the equity exposure to the point where a market decline would likely start a Lehman-type domino, there is no way that the Brian Sack-led team of traders will allow stocks to drop ever... Until such time nature reasserts itself, the market collapses without GETCO or the PPT being able to catch it, and the Fed is finally wiped out in one way or another.

The 35 companies in question:

Dexia SA
BNP Paribas
Barclays PLC
Royal Bank of Scotland Group
Commerzbank AG
Danske Bank A/S
ING Groep NV
Deutsche Post AG
Erste Group Bank AG
Free State of Bavaria
HSH Nordbank AG
HSBC Holdings PLC
DZ Bank AG
Republic of Korea
Sumitomo Mitsui Banking Corporation
Banco Espirito Santo SA
Bank of Nova Scotia
Mizuho Corporate Bank, Ltd.
Syngenta AG
Mitsui & Co Ltd
Bank of Montreal
Caixa Geral de Depósitos
Mitsubishi UFJ Financial Group
Shinhan Financial Group Co Ltd
Mitsubishi Corp
Aegon NV
Royal Bank of Canada
Sumitomo Corp

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bob_dabolina's picture

Thank god Banco Espirito Santo SA got bailed out [wipe my brow of a pearl of sweat]

That one has systemic written all over it.

nope-1004's picture

Do any of them not?  The entire ship is going to sink one day.


bob_dabolina's picture

Free State of Bavaria

That one was serious. We would have been seriously fucked had they not bailed that one out.

Waterfallsparkles's picture

Yet, they let Lehman, Bear Stearns, Washington Mutual, Countrywide go down the tubes.

tmosley's picture

I think he's being sarcastic.

Sometimes hard to tell these days.

bob_dabolina's picture

With this data dump I'm dropping sarcasm bombs all day.

MarketTruth's picture

WAIT! Is this the same as the central bank liquidity swaps Bernanke refused to answer to congress in this video?

Or is this bail out scam an additional scam on top of the $500,000,000,000?

MarketTruth's picture

FIAT currency to be precise.

Perhaps it is time these other banks get smart and demand loans be made in physical gold yet paid back in dollars.

crazyjsmith's picture

Yeah, I believe this is the very list he was refusing to disclose, when he blatantly said, "No"

It is becoming evident to why he was not wanting this info to be released.  The curious aspect will be to see how our media will pick up this story.  I am guessing the digging that TD has done in the first few moments this was disclosed will far surpass anything our little media pigs will do over the coming days and weeks.  We won't even hear about this in one weeks time.  It is not disturbing, it's frightening.  All on a day where we see the market go up over 200 points!! 

Bob Sponge's picture


I wonder if they pumped the market like crazy today to distract people from the release of this data.

Founders Keeper's picture

[I am guessing the digging that TD has done in the first few moments this was disclosed will far surpass anything our little media pigs will do...]---crazyjsmith

I agree on both accounts, crazyjsmith.  TD does an awesome job.  MSM, predictably miserable.

However, the MSM goes back to work this January.

As soon as the new Tea Party congressmen are sworn in, and the Repubs take over the House, the MSM's 2-year vacation will be over.  It's back to work.  The socialist left-wing MSM reporters and journalists will descend on D.C. like never before.  Swarming the Halls of congress anxious to discredit Republicans and defend their dear leader, Obama. 

News, investigative reports, exposes, feature articles, and breaking news headlines will come flooding into newspapers, magazines, websites, and onto network and cable news anchors' desks. 

Here's the secondary effect in this rush.  And, the more important.  These MSM reporters have been on vacation.  I suspect none of them have been researching what's been really going on in the economy these past 2 years.  (Why should they?  Their guy won the election.  All was right with the world.)  So, they go back to work reporting any and all activity of the new Republican House.  I expect, in their rush to discredit the new Repub leadership, the MSM will inadvertantly uncover news stories that will expose Wall Street, the Fed, and damage the White House.  Unwittingly, of course, because the reporters have no idea the interconnectedness of the corruption---they haven't been paying attention to current affairs. 

(I do not write this in defense of the Republican party.  Both Dems and Repubs are shameful representatives of their electorate.)

eatthebanksters's picture

More like the entire fleet will disappear...

Rainman's picture

UBS is the biggest hog in the pen. Isn't UBS where the great patriot former US Senator Phil Gramm hangs his hat 8 to 5 ??? 

Concentrated power has always been the enemy of liberty.'s picture


  The Bank of Korea International Conference 2006 Held In Seoul SEOUL, SOUTH KOREA - JUNE 16: Brian Sack, Vice President of the Macroeconomic Advisers, LLC speaks during The Bank of Korea International Conference 2006; Monetary Policy in an Environment of Low Inflation at the Westin Chosun Hotel on June 16, 2006 in Seoul, South Korea. Some 200 Central bank officials, business leaders and Professors from 31 countries attend the two-day international forum for discussion and exchange a diversity of opinions about economic issues. - well the pic didn't paste, but this guy saw what bernanke saw...a great moderate halucination - we are ruled by idiots.

nope-1004's picture

So much for a "sound Canadian banking system".

King_of_simpletons's picture

Yeah, I was thinking the same. The Canadian public were conned into thinking that their Banks escaped the financial crisis unscathed when in fact it is the USFED that bailed their asses out.

Bay of Pigs's picture

I informed the tellers at TD who didn't even know about their own banks exposure to the US RE market. Canadian banks are also heavily exposed to the RE bubble in Canada. It is a fuckan charade up north. Just starting to roll over.

King_of_simpletons's picture

Re: Canadian Banks -

or just google the headline: "Canadian Banks Borrowed US Federal Reserve Crisis Money"

LongSoupLine's picture

gee, shocking...the top bank is a...wait for it..."primary dealer".

faustian bargain's picture

so is BNP and Barclays, and several others:


BNP Paribas Securities Corp.
Barclays Capital Inc.
Cantor Fitzgerald & Co.
Citigroup Global Markets Inc.
Credit Suisse Securities (USA) LLC
Daiwa Capital Markets America Inc.
Deutsche Bank Securities Inc.
Goldman, Sachs & Co.
HSBC Securities (USA) Inc.
Jefferies & Company, Inc.
J.P. Morgan Securities LLC
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Mizuho Securities USA Inc.
Morgan Stanley & Co. Incorporated
Nomura Securities International, Inc.
RBC Capital Markets, LLC
RBS Securities Inc.
UBS Securities LLC.

RobotTrader's picture

Today's technical take on the market action:



Top volume movers on

Duuude's picture





cosmictrainwreck's picture

I mean, like, reeeallly..........WHO GIVES A SHIT?

bugs_'s picture

How demoralizing

hambone's picture

I'm not feeling well - the more I know the more unwell I feel.

Guess the point is if all we do is after the fact figure out how we were raped but no one cares...are we not better off not knowing?  Seriously, my mental health is taking a pounding.  My ability to function normally in Amerika is in question.

Thoughts?  Is this knowledge helping or hurting folks?

Fritz's picture

Yes - get on with the business of living life and stop dwelling on negativity.


jus_lite_reading's picture

When the black friday'ers realize they're not getting next weeks' unemployment checks, you'll feel better...

eatthebanksters's picture

What did that congressman get caught on tape saying?  I think his word were,"It's all rigged!"

Yes We Can. But Lets Not.'s picture

I've taken such an awful financial beating the past 5 years, I now care much less about money/security and feel better today, though years 1 and 2 were tough...

The 4 banks I've worked for during this period haven't fared well - one bit it big-time and now in the hands of foreign gubmint, one acquired for a pittance following a huge bank treasury department miscue, one has yet to repay a penny of the TARP money it took, stock is $4 and bank still loses $1MM per day, and the other is a solidly run Canadian bank....

illyia's picture

hambone - it hurts because its terrible. When it hurts enough people try to change things. We've travelled so far down the road of corruption because we wish to avoid the pain.

It is not remarkable that even very "educated" and "aware" people remain in denial. It is so much easier... But denial doesn't work, it just lets the slavers build bigger plantations and buy more slaves.

What will work is transparency. And, we are going to have to make that happen. The banksters won't. The corpgov won't. Only when We the People decide to make it change will it change.

And, we will only decide that when it hurts enough. So... you are an early adopter...

Bob Sponge's picture

Well said. You need to know the truth about a problem before you can fix it.

Xibalba's picture

Quite a few German banks on that list. 

Spalding_Smailes's picture

Just wait those swap lines will be dryhump'd again ...

etrader's picture

There's rumours been floating around that Landesbank has got problems with dollar funding.

CNBC Euroland at least allows such thing to be mentioned ....

2min 16sec in Christoph Eibl, ( Tiberius Group)


Spalding_Smailes's picture

Great info- thanks.



A dollar shoooortage ?

I thought the dollar was dead  ? Unwanted, trash ? Hmmmmm ...


ECB : Ben we need dollars ...

Ben : Ok give me this,that,this,that and pay 10% in Gold.

ECB : .... ok.

Ben : Thanks, I'll wire it after glee is over.

trav7777's picture

perhaps this is why the Fed didn't transfer Germany's gold back to them.  Collateral.

The dollar sits underneath 75% of world debt.  You need dollars to make your payments?  You borrow them from the Fed

Spitzer's picture

There is one thing in common with every single hyperinflated currency in history which is, a shortage of the said currency.

Cojones's picture

3 dutch banks, including ING and Aegon which were nationalised at the time.

Mongo's picture

within next months.. as everybody discovers that iPad is nothing less of an hardened toiletpaper tissue the collapse will commence and it will be brutal.


Until then.. I shal buy some more gold

Waterfallsparkles's picture

THAT IS AN OUTRAGE.  Now they want to cut our Social Security and Medicare and raise OUR Taxes to pay for it.

jus_lite_reading's picture

and nobody says PEEP about it... bend over and lube up. maybe it's better not to know the truth??

Arkadaba's picture

Can you say It is getting too unreal.

DocLogo's picture

running a cartel is god's work

iota's picture

Wow, lucky RBS; bailed out by two different nations.

doomandbloom's picture

Hello, nice to meet you...

Bartanist's picture

So the apparent plan is an orderly transition of all common equity ownership to the Federal Reserve Bank, then a crash and then selling the assets back to the public at the lower price.

The Fed would be the only entity to take the hit, which does not really matter since the Fed created the money to buy the stocks at the higher levels out of thin air anyway.

What comes from thin air can return to thin air.