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FDIC Includes Credit Union Bank Deposits In Predictions

FDIC ILC
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EDITOR NOTE: Just last year, the FDIC had set rules prohibiting brokered deposits from institutions that didn’t meet their liquidity standards. The purpose of this rule was to reduce liquidity risks that can severely affect banks and their customers. Currently, the FDIC has been asked to vote on an amendment of that rule which even FDIC Director Martin Gruenberg thought would significantly weaken those protections. How did this happen? The amendments were given to the board the night before they were asked to vote on it. This means that nobody had the time to thoroughly investigate the negative implications of the amendments. Gruenberg, however, recognized immediately that the changes raised important and complex safety concerns that could put the entire banking system at risk. He was one of the few who had enough sense to vote against the amendments. A bank that isn’t adequately capitalized can rely 100% on funds from third parties and those funds would not be considered “brokered deposits.” There’s no limit and apparently no rule to regulate their reliance on these third parties. And there’s nothing to prevent a third-party from working with several banks or closing existing relationships to work exclusively with any bank of choice. In the end, there’s nothing to stop companies like Walmart, Facebook, and Amazon from brokering deposits from one institution to the next. What this means is that there’s nothing to keep your bank well capitalized enough to possibly survive a banking collapse.

December 15th, 2020, the FDIC met to discuss budget increases for major uncertainty in 2021!

They also began incorporating Credit Union deposits into their Bank Failure predictions. ⇒Watch Now.

Defund the banks.

Buy non-CUSIP Gold and Silver now before time runs out!

non-CUSIP Gold & Silver is Wealth for Generations to Come,
Anthony Allen Anderson

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All articles are provided as a third party analysis and do not necessarily reflect the explicit views of GSI Exchange and should not be construed as financial advice.

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