by Brian Pillmore | Mar 13, 2023 | Brian's Blog
It’s surprisingly backwards… It has 3 core components – from the bank’s perspective: 1️⃣ Capital The bank’s own money.Either from investors, and/or previous profits kept on hand.The point is – The banks OWNS this money.BUT, the first dollar of loss that a...
by Brian Pillmore | Mar 13, 2023 | Brian's Blog
This picture was taken right after I became a partner in a whiskey and cigar business with these 2 great partners. One of them walks up to me and hands me a Glencairn glass of whiskey. “What’s this??” “THIS is a 1978 Glenmorangie Pride finished in a Bordeaux cask...
by Brian Pillmore | Mar 13, 2023 | Brian's Blog
I don’t see the shutdown of SVB by regulators or the self-liquidation of Silvergate as indicators of widespread contagion but there are some characteristics of troubled banks that we ought to be aware of: (1) Low loan-to-deposits (inefficient balance sheet...
by Ken Chase | Mar 13, 2023 | Banks, News
The Treasury Department, Federal Reserve Board, and Federal Deposit Insurance Corporation issued a joint statement on Sunday confirming that all Silicon Valley Bank uninsured deposits will be fully covered. The same announcement confirmed similar protections for...
by Ken Chase | Mar 10, 2023 | Banks, News
A trio of plaintiff companies recently filed a class action lawsuit against Bank of America, alleging that the bank knowingly misrepresented their Paycheck Protection Program (PPP) loans. The plaintiffs claim that BofA misled them by claiming that the pandemic-era...
