How much is their existing capital base right now?
How much of a reserve will they need to provide in order to cover bad, sub- and non-performing loans?
In boating, there is a term called “the following sea”. It indicates a rogue wave from behind that you don’t see that swamps you. In CFC’s case, their balance sheet has to be in tatters right now. While cash flow/liquidity is the main issue immediately, they are also carrying a huge amount of drag related to bad paper.
I believe that this is what will kill them: Not what is in front, but the following sea.
