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urbanrealtor.
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June 14, 2011 at 2:17 PM #704541June 14, 2011 at 3:35 PM #703376
briansd1
Guest[quote=Veritas]Sorry Brian, cannot not explain without being involved in a flamewar and I think that is what you want. Draw your own conclusions and think what you want. Rich has made it clear and I enjoy posting here, so I refuse to fight with you about where the tax dollars went or why or who authorized it.[/quote]
So you cannot explain how the Fed’s discount window is related to Obama without a flamewar?
I think that most of us here know how the Fed generally operates. The Fed manages the money supply independent of the executive.
The credit available at the discount window is not tax dollars.
Note the time period during which discount window lending peaked.
Lending through the discount window soared to a peak of $111 billion on Oct. 29, 2008, as credit markets nearly froze in the wake of the bankruptcy on Sept. 15, 2008, of Lehman Brothers Holdings Inc. While the loans provided banks with backstop cash, the public has never known which banks borrowed or why. Fed officials say all the loans made through the program during the crisis have been repaid with interest.
Also note the Dodd-Frank law is providing for more transparency and disclosure on loans extended on or after July 21, 2010. So there’s progress in that regard. Prior to the Bloomberg lawsuit, the information was not disclosed.
8. Does the Federal Reserve disclose the identity of institutions that borrow from the discount window?
Yes. In accordance with the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Pub. L. No. 111-203), the Federal Reserve has changed its practices with respect to disclosure of discount window lending information. Effective for discount window loans (primary, secondary, and seasonal credit) extended on or after July 21, 2010, the Federal Reserve will publicly disclose the following information, generally about two years after a discount window loan is extended to a depository institution:
The name and identifying details of the depository institution;
The amount borrowed by the depository institution;
The interest rate paid by the depository institution; and
Information identifying the types and amounts of collateral pledged in connection with any discount window loan. This disclosure requirement does not apply to collateral pledged by depository institutions that do not borrowhttp://www.frbdiscountwindow.org/dwfaqs.cfm?hdrID=14&dtlID=75#ps8
You can also look at the period for which data was released, March 2008 – 2009 thanks to the Bloomberg lawsuit. Please explain how Obama was involved, as he had barely taken office.
https://spreadsheets.google.com/ccc?key=0ArHUdrxFMmkTdGdvdHNNS3FQaXBwaWc5Y1EtNGtGZ3c&hl=en#gid=0
More info from zerohedge, the same source website of the information you previously posted:
http://www.zerohedge.com/article/excel-breakdown-all-discount-window-users-between-march-2008-2009June 14, 2011 at 3:35 PM #703471Guest[quote=Veritas]Sorry Brian, cannot not explain without being involved in a flamewar and I think that is what you want. Draw your own conclusions and think what you want. Rich has made it clear and I enjoy posting here, so I refuse to fight with you about where the tax dollars went or why or who authorized it.[/quote]
So you cannot explain how the Fed’s discount window is related to Obama without a flamewar?
I think that most of us here know how the Fed generally operates. The Fed manages the money supply independent of the executive.
The credit available at the discount window is not tax dollars.
Note the time period during which discount window lending peaked.
Lending through the discount window soared to a peak of $111 billion on Oct. 29, 2008, as credit markets nearly froze in the wake of the bankruptcy on Sept. 15, 2008, of Lehman Brothers Holdings Inc. While the loans provided banks with backstop cash, the public has never known which banks borrowed or why. Fed officials say all the loans made through the program during the crisis have been repaid with interest.
Also note the Dodd-Frank law is providing for more transparency and disclosure on loans extended on or after July 21, 2010. So there’s progress in that regard. Prior to the Bloomberg lawsuit, the information was not disclosed.
8. Does the Federal Reserve disclose the identity of institutions that borrow from the discount window?
Yes. In accordance with the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Pub. L. No. 111-203), the Federal Reserve has changed its practices with respect to disclosure of discount window lending information. Effective for discount window loans (primary, secondary, and seasonal credit) extended on or after July 21, 2010, the Federal Reserve will publicly disclose the following information, generally about two years after a discount window loan is extended to a depository institution:
The name and identifying details of the depository institution;
The amount borrowed by the depository institution;
The interest rate paid by the depository institution; and
Information identifying the types and amounts of collateral pledged in connection with any discount window loan. This disclosure requirement does not apply to collateral pledged by depository institutions that do not borrowhttp://www.frbdiscountwindow.org/dwfaqs.cfm?hdrID=14&dtlID=75#ps8
You can also look at the period for which data was released, March 2008 – 2009 thanks to the Bloomberg lawsuit. Please explain how Obama was involved, as he had barely taken office.
https://spreadsheets.google.com/ccc?key=0ArHUdrxFMmkTdGdvdHNNS3FQaXBwaWc5Y1EtNGtGZ3c&hl=en#gid=0
More info from zerohedge, the same source website of the information you previously posted:
http://www.zerohedge.com/article/excel-breakdown-all-discount-window-users-between-march-2008-2009June 14, 2011 at 3:35 PM #704063Guest[quote=Veritas]Sorry Brian, cannot not explain without being involved in a flamewar and I think that is what you want. Draw your own conclusions and think what you want. Rich has made it clear and I enjoy posting here, so I refuse to fight with you about where the tax dollars went or why or who authorized it.[/quote]
So you cannot explain how the Fed’s discount window is related to Obama without a flamewar?
I think that most of us here know how the Fed generally operates. The Fed manages the money supply independent of the executive.
The credit available at the discount window is not tax dollars.
Note the time period during which discount window lending peaked.
Lending through the discount window soared to a peak of $111 billion on Oct. 29, 2008, as credit markets nearly froze in the wake of the bankruptcy on Sept. 15, 2008, of Lehman Brothers Holdings Inc. While the loans provided banks with backstop cash, the public has never known which banks borrowed or why. Fed officials say all the loans made through the program during the crisis have been repaid with interest.
Also note the Dodd-Frank law is providing for more transparency and disclosure on loans extended on or after July 21, 2010. So there’s progress in that regard. Prior to the Bloomberg lawsuit, the information was not disclosed.
8. Does the Federal Reserve disclose the identity of institutions that borrow from the discount window?
Yes. In accordance with the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Pub. L. No. 111-203), the Federal Reserve has changed its practices with respect to disclosure of discount window lending information. Effective for discount window loans (primary, secondary, and seasonal credit) extended on or after July 21, 2010, the Federal Reserve will publicly disclose the following information, generally about two years after a discount window loan is extended to a depository institution:
The name and identifying details of the depository institution;
The amount borrowed by the depository institution;
The interest rate paid by the depository institution; and
Information identifying the types and amounts of collateral pledged in connection with any discount window loan. This disclosure requirement does not apply to collateral pledged by depository institutions that do not borrowhttp://www.frbdiscountwindow.org/dwfaqs.cfm?hdrID=14&dtlID=75#ps8
You can also look at the period for which data was released, March 2008 – 2009 thanks to the Bloomberg lawsuit. Please explain how Obama was involved, as he had barely taken office.
https://spreadsheets.google.com/ccc?key=0ArHUdrxFMmkTdGdvdHNNS3FQaXBwaWc5Y1EtNGtGZ3c&hl=en#gid=0
More info from zerohedge, the same source website of the information you previously posted:
http://www.zerohedge.com/article/excel-breakdown-all-discount-window-users-between-march-2008-2009June 14, 2011 at 3:35 PM #704212Guest[quote=Veritas]Sorry Brian, cannot not explain without being involved in a flamewar and I think that is what you want. Draw your own conclusions and think what you want. Rich has made it clear and I enjoy posting here, so I refuse to fight with you about where the tax dollars went or why or who authorized it.[/quote]
So you cannot explain how the Fed’s discount window is related to Obama without a flamewar?
I think that most of us here know how the Fed generally operates. The Fed manages the money supply independent of the executive.
The credit available at the discount window is not tax dollars.
Note the time period during which discount window lending peaked.
Lending through the discount window soared to a peak of $111 billion on Oct. 29, 2008, as credit markets nearly froze in the wake of the bankruptcy on Sept. 15, 2008, of Lehman Brothers Holdings Inc. While the loans provided banks with backstop cash, the public has never known which banks borrowed or why. Fed officials say all the loans made through the program during the crisis have been repaid with interest.
Also note the Dodd-Frank law is providing for more transparency and disclosure on loans extended on or after July 21, 2010. So there’s progress in that regard. Prior to the Bloomberg lawsuit, the information was not disclosed.
8. Does the Federal Reserve disclose the identity of institutions that borrow from the discount window?
Yes. In accordance with the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Pub. L. No. 111-203), the Federal Reserve has changed its practices with respect to disclosure of discount window lending information. Effective for discount window loans (primary, secondary, and seasonal credit) extended on or after July 21, 2010, the Federal Reserve will publicly disclose the following information, generally about two years after a discount window loan is extended to a depository institution:
The name and identifying details of the depository institution;
The amount borrowed by the depository institution;
The interest rate paid by the depository institution; and
Information identifying the types and amounts of collateral pledged in connection with any discount window loan. This disclosure requirement does not apply to collateral pledged by depository institutions that do not borrowhttp://www.frbdiscountwindow.org/dwfaqs.cfm?hdrID=14&dtlID=75#ps8
You can also look at the period for which data was released, March 2008 – 2009 thanks to the Bloomberg lawsuit. Please explain how Obama was involved, as he had barely taken office.
https://spreadsheets.google.com/ccc?key=0ArHUdrxFMmkTdGdvdHNNS3FQaXBwaWc5Y1EtNGtGZ3c&hl=en#gid=0
More info from zerohedge, the same source website of the information you previously posted:
http://www.zerohedge.com/article/excel-breakdown-all-discount-window-users-between-march-2008-2009June 14, 2011 at 3:35 PM #704571Guest[quote=Veritas]Sorry Brian, cannot not explain without being involved in a flamewar and I think that is what you want. Draw your own conclusions and think what you want. Rich has made it clear and I enjoy posting here, so I refuse to fight with you about where the tax dollars went or why or who authorized it.[/quote]
So you cannot explain how the Fed’s discount window is related to Obama without a flamewar?
I think that most of us here know how the Fed generally operates. The Fed manages the money supply independent of the executive.
The credit available at the discount window is not tax dollars.
Note the time period during which discount window lending peaked.
Lending through the discount window soared to a peak of $111 billion on Oct. 29, 2008, as credit markets nearly froze in the wake of the bankruptcy on Sept. 15, 2008, of Lehman Brothers Holdings Inc. While the loans provided banks with backstop cash, the public has never known which banks borrowed or why. Fed officials say all the loans made through the program during the crisis have been repaid with interest.
Also note the Dodd-Frank law is providing for more transparency and disclosure on loans extended on or after July 21, 2010. So there’s progress in that regard. Prior to the Bloomberg lawsuit, the information was not disclosed.
8. Does the Federal Reserve disclose the identity of institutions that borrow from the discount window?
Yes. In accordance with the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Pub. L. No. 111-203), the Federal Reserve has changed its practices with respect to disclosure of discount window lending information. Effective for discount window loans (primary, secondary, and seasonal credit) extended on or after July 21, 2010, the Federal Reserve will publicly disclose the following information, generally about two years after a discount window loan is extended to a depository institution:
The name and identifying details of the depository institution;
The amount borrowed by the depository institution;
The interest rate paid by the depository institution; and
Information identifying the types and amounts of collateral pledged in connection with any discount window loan. This disclosure requirement does not apply to collateral pledged by depository institutions that do not borrowhttp://www.frbdiscountwindow.org/dwfaqs.cfm?hdrID=14&dtlID=75#ps8
You can also look at the period for which data was released, March 2008 – 2009 thanks to the Bloomberg lawsuit. Please explain how Obama was involved, as he had barely taken office.
https://spreadsheets.google.com/ccc?key=0ArHUdrxFMmkTdGdvdHNNS3FQaXBwaWc5Y1EtNGtGZ3c&hl=en#gid=0
More info from zerohedge, the same source website of the information you previously posted:
http://www.zerohedge.com/article/excel-breakdown-all-discount-window-users-between-march-2008-2009June 14, 2011 at 4:36 PM #703396Veritas
ParticipantWere you a badger in your past life? Like I said, can’t help you; don’t want to fight.
June 14, 2011 at 4:36 PM #703491ParticipantWere you a badger in your past life? Like I said, can’t help you; don’t want to fight.
June 14, 2011 at 4:36 PM #704083ParticipantWere you a badger in your past life? Like I said, can’t help you; don’t want to fight.
June 14, 2011 at 4:36 PM #704231ParticipantWere you a badger in your past life? Like I said, can’t help you; don’t want to fight.
June 14, 2011 at 4:36 PM #704591ParticipantWere you a badger in your past life? Like I said, can’t help you; don’t want to fight.
June 14, 2011 at 4:58 PM #703401GuestBased on the spreadsheet by zerohedge, here are the top totals I get for borrowings from the discount window March 2008 to March 2009:
BANK OF NY MELLON Total 6,071,792,534,545
DEXIA CREDIT LOCAL NY BR Total 2,762,625,000,000 (Belgium)
DEPFA BK PLC NY BR Total 2,552,830,000,000 (Ireland)
JPMORGAN CHASE BK NA Total 1,965,776,678,472
CPFF Total 554,998,001,108 (USA)
http://en.wikipedia.org/wiki/Commercial_Paper_Funding_FacilityBANK OF NY Total 341,526,000,000
AIG Total 249,616,483,142
US CENTRAL FCU Total 195,008,000,000
SOVEREIGN BK Total 133,810,000,000 (USA purchased by Spain’s Santander in 2008)I also noticed the following borrowings from San Diego area banks:
TEMECULA VALLEY BK Total 4,500,100,000
LA JOLLA BK FSB Total 4,291,000,000June 14, 2011 at 4:58 PM #703496GuestBased on the spreadsheet by zerohedge, here are the top totals I get for borrowings from the discount window March 2008 to March 2009:
BANK OF NY MELLON Total 6,071,792,534,545
DEXIA CREDIT LOCAL NY BR Total 2,762,625,000,000 (Belgium)
DEPFA BK PLC NY BR Total 2,552,830,000,000 (Ireland)
JPMORGAN CHASE BK NA Total 1,965,776,678,472
CPFF Total 554,998,001,108 (USA)
http://en.wikipedia.org/wiki/Commercial_Paper_Funding_FacilityBANK OF NY Total 341,526,000,000
AIG Total 249,616,483,142
US CENTRAL FCU Total 195,008,000,000
SOVEREIGN BK Total 133,810,000,000 (USA purchased by Spain’s Santander in 2008)I also noticed the following borrowings from San Diego area banks:
TEMECULA VALLEY BK Total 4,500,100,000
LA JOLLA BK FSB Total 4,291,000,000June 14, 2011 at 4:58 PM #704088GuestBased on the spreadsheet by zerohedge, here are the top totals I get for borrowings from the discount window March 2008 to March 2009:
BANK OF NY MELLON Total 6,071,792,534,545
DEXIA CREDIT LOCAL NY BR Total 2,762,625,000,000 (Belgium)
DEPFA BK PLC NY BR Total 2,552,830,000,000 (Ireland)
JPMORGAN CHASE BK NA Total 1,965,776,678,472
CPFF Total 554,998,001,108 (USA)
http://en.wikipedia.org/wiki/Commercial_Paper_Funding_FacilityBANK OF NY Total 341,526,000,000
AIG Total 249,616,483,142
US CENTRAL FCU Total 195,008,000,000
SOVEREIGN BK Total 133,810,000,000 (USA purchased by Spain’s Santander in 2008)I also noticed the following borrowings from San Diego area banks:
TEMECULA VALLEY BK Total 4,500,100,000
LA JOLLA BK FSB Total 4,291,000,000June 14, 2011 at 4:58 PM #704236GuestBased on the spreadsheet by zerohedge, here are the top totals I get for borrowings from the discount window March 2008 to March 2009:
BANK OF NY MELLON Total 6,071,792,534,545
DEXIA CREDIT LOCAL NY BR Total 2,762,625,000,000 (Belgium)
DEPFA BK PLC NY BR Total 2,552,830,000,000 (Ireland)
JPMORGAN CHASE BK NA Total 1,965,776,678,472
CPFF Total 554,998,001,108 (USA)
http://en.wikipedia.org/wiki/Commercial_Paper_Funding_FacilityBANK OF NY Total 341,526,000,000
AIG Total 249,616,483,142
US CENTRAL FCU Total 195,008,000,000
SOVEREIGN BK Total 133,810,000,000 (USA purchased by Spain’s Santander in 2008)I also noticed the following borrowings from San Diego area banks:
TEMECULA VALLEY BK Total 4,500,100,000
LA JOLLA BK FSB Total 4,291,000,000 -
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