Sunday, November 25, 2012

Max Keiser: Global Shadow Banking System Grows to $67 Trillion!

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Max Keiser

Keiser Report: Shadow Banking

In this episode, Max Keiser and Stacy Herbert ask, "who knows what evil lurks in the heart of the global financial system?" And find the answer is that "the Shadow banking system knows!" The shadow banking system has grown to $67 trillion and has the power to cloud men's minds so they cannot see the fraud. In the second half, Max Keiser talks to Jan Skoyles of the Real Asset Company about clients wanting to park their gold in Singapore and about what is happening in the gold market in China.



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Bank Failure Friday: FDIC Seizes 50th Bank in 2012



The FDIC closed 1 bank on Friday, November 16, 2012. Total bank failures for 2012 increased to 50.

#50 Hometown Community Bank, Braselton, GA
* CertusBank, NA, Easley, SC, assumed all of the deposits and purchased most of the assets
* As of September 30, 2012, the bank had approximately $124.6 million in total assets
* FDIC estimates the cost to the Deposit Insurance Fund (DIF) will be $36.7 million
* The last bank closed in the state had been Jasper Banking Company, Jasper, on July 27, 2012

States where banks have been seized by the FDIC in 2012 (in alphabetical order): Alabama 1, California 1, Florida 8, Georgia 10, Illinois 8, Indiana 1, Kansas 1, Maryland 2, Michigan 1, Minnesota 4, Missouri 3, New Jersey 1, North Carolina 1, Oklahoma 1, Pennsylvania 2, South Carolina 2, Tennessee 3. Florida, Georgia, and Illinois have accounted for 26 total or 52% of all bank failures in 2012 to-date. Florida, Georgia, and Illinois accounted for 45 total or 49% of all bank failures in 2011.

USA Failed Banks by Year Bank failures skyrocketed in 2009 and 2010 to 140 and 157, respectively - a 2-year total of 297 compared to 32 from 2004 through 2008. Bank failures in 2011 continued at a high rate of 92. The total 2012 closings are currently estimated at 57. The 2012 annual bank failures are extrapolated from the weeks reported and failures year-to-date.



Cost of Failed Banks The total estimated cost to the FDIC Deposit Insurance Fund for the 2012 bank closures year-to-date is $2.46 billion.



The most costly banks to the Deposit Insurance Fund (DIF) in 2012 year-to-date:
1 Tennessee Commerce Bank, Franklin, TN $416.8M
2 The First State Bank, Stockbridge, GA $216.2M
3 Inter Savings Bank FSB, Maple Grove, MN $117.5M
4 Fidelity Bank, Dearborn, MI $92.8M 5 NOVA Bank, Berwyn, PA $91.2M
6 First Guaranty Bank & Trust Company of Jacksonville, Jacksonville, FL $82.0M
7 Second Federal Savings and Loan Association of Chicago, Chicago, IL $76.9M
8 Plantation Federal Bank, Pawleys Island, SC $76.0M
9 BankEast, Knoxville, TN $75.6M
0 Montgomery Bank & Trust, Ailey, GA $75.2M



Failed Credit Unions Credit union closings for 2012 remain at 13. No credit unions are now in conservatorship and managed by the NCUA.

5 have been liquidated and sold
* Telesis Community Credit Union of Chatsworth, CA
* Wausau Postal Employees Credit Union of Wausau, WI
* Saguache County Credit Union of Moffat, CO
* People Community Development Credit Union of Philadelphia, PA
* A M Community Credit Union of Kenosha, WI
6 have been liquidated and closed
* Women’s Southwest Federal Credit Union of Dallas, TX
* U.S. Central Bridge Corporate FCU of Lenexa, KS
* El Paso’s Federal Credit Union of El Paso, TX
* United Catholic Credit Union of Temperance, MI
* Western Bridge Corporate FCU of San Dimas, CA
* Shepherd’s Federal Credit Union of Charlotte, NC
2 have been liquidated and merged
* Trinity Credit Union, Trinidad, CO
* Eastern New York Federal Credit Union of Napanoch, NY

States where credit unions have been seized by the NCUA in 2012 (in alphabetical order): California 2, Colorado 2, Kansas 1, Michigan 1, New York 1, North Carolina 1, Pennsylvania 1, Texas 2, Wisconsin 2.

$XLF $SPY $DIA $QQQ $IWM $MACRO $FED

Sunday, November 11, 2012

Bank Failure Friday: 2 Banks and 2 Credit Unions Closed!



The FDIC closed 2 banks on Friday, November 2, 2012. Total bank failures for 2012 increased to 49.

#48 Heritage Bank of Florida, Lutz, FL
* Centennial Bank, Conway, AR assumed all of the deposits and purchased most of the assets
* FDIC retained the remaining assets for later disposition
* As of September 30, 2012, the bank had approximately $225.5 million in total assets
* FDIC estimates the cost to the Deposit Insurance Fund (DIF) will be $65.5 million
* The last bank closed in the state had been First East Side Savings Bank, Tamarac, on October 19, 2012

#49 Citizens First National Bank, Princeton, IL
* Heartland Bank and Trust Company, Bloomington, IL assumed all of the deposits and purchased most of the assets
* As of September 30, 2012, the bank had approximately $924.0 million in total assets
* FDIC estimates the cost to the Deposit Insurance Fund (DIF) will be $45.2 million
* The last bank closed in the state had been First United Bank, Crete, on September 28, 2012

States where banks have been seized by the FDIC in 2012 (in alphabetical order): Alabama 1, California 1, Florida 8, Georgia 9, Illinois 8, Indiana 1, Kansas 1, Maryland 2, Michigan 1, Minnesota 4, Missouri 3, New Jersey 1, North Carolina 1, Oklahoma 1, Pennsylvania 2, South Carolina 2, Tennessee 3. Florida, Georgia, and Illinois have accounted for 25 total or 51% of all bank failures in 2012 to-date. Florida, Georgia, and Illinois accounted for 45 total or 49% of all bank failures in 2011.

USA Failed Banks by Year Bank failures skyrocketed in 2009 and 2010 to 140 and 157, respectively - a 2-year total of 297 compared to 32 from 2004 through 2008. Bank failures in 2011 continued at a high rate of 92. The total 2012 closings are currently estimated at 57. The 2012 annual bank failures are extrapolated from the weeks reported and failures year-to-date.



Cost of Failed Banks The total estimated cost to the FDIC Deposit Insurance Fund for the 2012 bank closures year-to-date is $2.42 billion.



The most costly banks to the Deposit Insurance Fund (DIF) in 2012 year-to-date:
1 Tennessee Commerce Bank, Franklin, TN $416.8M
2 The First State Bank, Stockbridge, GA $216.2M
3 Inter Savings Bank FSB, Maple Grove, MN $117.5M
4 Fidelity Bank, Dearborn, MI $92.8M
5 NOVA Bank, Berwyn, PA $91.2M
6 First Guaranty Bank & Trust Company of Jacksonville, Jacksonville, FL $82.0M
7 Second Federal Savings and Loan Association of Chicago, Chicago, IL $76.9M
8 Plantation Federal Bank, Pawleys Island, SC $76.0M
9 BankEast, Knoxville, TN $75.6M
0 Montgomery Bank & Trust, Ailey, GA $75.2M



Failed Credit Unions

The NCUA closed 2 credit unions in the past week: U.S. Central Bridge Corporate Federal Credit Union of Lenexa, KS and Women’s Southwest Federal Credit Union of Dallas, TX. Credit union closings for 2012 increased to 13. No credit unions are now in conservatorship and managed by the NCUA.

5 have been liquidated and sold
* Telesis Community Credit Union of Chatsworth, CA
* Wausau Postal Employees Credit Union of Wausau, WI
* Saguache County Credit Union of Moffat, CO
* People Community Development Credit Union of Philadelphia, PA
* A M Community Credit Union of Kenosha, WI
6 have been liquidated and closed
* Women’s Southwest Federal Credit Union of Dallas, TX
* U.S. Central Bridge Corporate FCU of Lenexa, KS
* El Paso’s Federal Credit Union of El Paso, TX
* United Catholic Credit Union of Temperance, MI
* Western Bridge Corporate FCU of San Dimas, CA
* Shepherd’s Federal Credit Union of Charlotte, NC
2 have been liquidated and merged
* Trinity Credit Union, Trinidad, CO
* Eastern New York Federal Credit Union of Napanoch, NY

States where credit unions have been seized by the NCUA in 2012 (in alphabetical order): California 2, Colorado 2, Kansas 1, Michigan 1, New York 1, North Carolina 1, Pennsylvania 1, Texas 2, Wisconsin 2.

$XLF $SPY $DIA $QQQ $IWM $MACRO $FED

Bank Failure Friday: FDIC Seizes NOVA Bank, Berwyn, PA



The FDIC closed 1 bank on Friday, October 26, 2012. Total bank failures for 2012 increased to 47. Credit union failures for 2012 remain at 11.

#47 NOVA Bank, Berwyn, PA
* FDIC assumed all of the deposits and will payout insured deposits
* FDIC will retain all of the assets for later disposition
* As of June 30, 2012, the bank had approximately $483.0 million in total assets
* FDIC estimates the cost to the Deposit Insurance Fund (DIF) will be $91.2 million
* The last bank closed in the state had been American Eagle Savings Bank, Boothwyn, on January 20, 2012

States where banks have been seized by the FDIC in 2012 (in alphabetical order): Alabama 1, California 1, Florida 7, Georgia 9, Illinois 7, Indiana 1, Kansas 1, Maryland 2, Michigan 1, Minnesota 4, Missouri 3, New Jersey 1, North Carolina 1, Oklahoma 1, Pennsylvania 2, South Carolina 2, Tennessee 3. Georgia and Florida have accounted for 16 total or 28% of all bank failures in 2012 to-date. Georgia and Florida accounted for 36 total or 39% of all bank failures in 2011.

USA Failed Banks by Year Bank failures skyrocketed in 2009 and 2010 to 140 and 157, respectively - a 2-year total of 297 compared to 32 from 2004 through 2008. Bank failures in 2011 continued at a high rate of 92. The total 2012 closings are currently estimated at 57. The 2012 annual bank failures are extrapolated from the weeks reported and failures year-to-date.



Cost of Failed Banks The total estimated cost to the FDIC Deposit Insurance Fund for the 2012 bank closures year-to-date is $2.31 billion.



The most costly banks to the Deposit Insurance Fund (DIF) in 2012 year-to-date:
1 Tennessee Commerce Bank, Franklin, TN $416.8M
2 The First State Bank, Stockbridge, GA $216.2M
3 Inter Savings Bank FSB, Maple Grove, MN $117.5M
4 Fidelity Bank, Dearborn, MI $92.8M
5 NOVA Bank, Berwyn, PA $91.2M
6 First Guaranty Bank & Trust Company of Jacksonville, Jacksonville, FL $82.0M
7 Second Federal Savings and Loan Association of Chicago, Chicago, IL $76.9M
8 Plantation Federal Bank, Pawleys Island, SC $76.0M
9 BankEast, Knoxville, TN $75.6M
0 Montgomery Bank & Trust, Ailey, GA $75.2M



Failed Credit Unions The National Credit Union Administration (NCUA) has seized and/or closed 11 credit unions in 2012:
5 have been liquidated and sold
* Telesis Community Credit Union of Chatsworth, CA
* Wausau Postal Employees Credit Union of Wausau, WI
* Saguache County Credit Union of Moffat, CO
* People Community Development Credit Union of Philadelphia, PA
* A M Community Credit Union of Kenosha, WI
4 have been liquidated and closed
* El Paso’s Federal Credit Union of El Paso, Texas
* United Catholic Credit Union of Temperance, MI
* Western Bridge Corporate FCU of San Dimas, CA
* Shepherd’s Federal Credit Union of Charlotte, NC
2 have been liquidated and merged
* Trinity Credit Union, Trinidad, CO
* Eastern New York Federal Credit Union of Napanoch, NY
No credit unions are now in conservatorship and managed by the NCUA

States where credit unions have been seized by the NCUA in 2012 (in alphabetical order): California 2, Colorado 2, Michigan 1, New York 1, North Carolina 1, Pennsylvania 1, Texas 1, Wisconsin 2.

$XLF $SPY $DIA $QQQ $IWM $MACRO $FED

Largest USA Banks Ratings: U.S. Bancorp, Wells Fargo, Capital One Tops, Goldman Sachs Last



Big Banks Ratings Through September 30, 2012

The Largest USA Banks have reported third quarter 2012 financial results, the financial performance for the QE 9-30-12 and financial position at 9-30-12. There were several changes in the quarterly ratings: 4 downgrades and no upgrades. The median score is "D" and the average score for QE September 2012 is "C".

Above Average U.S. Bancorp is the sole leader at "A", followed by Wells Fargo and Capital One at "A-". These 3 banks have moved positively beyond the 2008 financial crisis. PNC Financial Services is next at "B+", followed by Bank of New York Mellon at "B" and Bank of America at "B-".

Below Average JPMorgan Chase is next at "D", which is the median rating. Citigroup follows with an "E+", below the median rating of "D". Farther below is Morgan Stanley at "E-". Trailing the field is Goldman Sachs, continuing at a dismal F-.

Rating, Bank, Change
A     U.S. Bancorp
A-    Wells Fargo
A-    Capital One
B+   PNC Financial Services
B     BNY Mellon
B-    Bank of America => (downgrade from B)
D     JPMorgan Chase
E+   Citigroup => (downgrade from D-)
E-    Morgan Stanley => (downgrade from E+)
F-    Goldman Sachs => (downgrade from G+)
C     Average

Largest USA Banks Rankings The 10 Largest USA banks ratings are presented below in a percentage format. The ratings range from A+ (100%) to G- (0%).



Based on fundamental analysis of both financial position and performance on a short-term and long-term basis, the largest 10 USA banks rankings have been updated with a composite score. There is no subjectivity involved from quarter to quarter, just objective data. The ratings are the result of the output from a model, with the latest quarterly financial statement data input.

The score can range from a high of A+ to a low of G-, a total of 21 tiers. The median score is D in this rating system. The average score can vary each quarter.

Financial position is weighted more than financial performance. Therefore, the rating is primarily a gauge of financial position, balance sheet strength, which indicates the ability of the bank to withstand a downturn in financial performance from either internal or external events. The rating is secondarily a gauge of financial performance, both short-term and long-term. A measure of financial safety and soundness, not future financial performance, is the predominant intent of the ratings.

$XLF $USB $PNC $WFC $BK $BAC $JPM $C $MS $GS $COF

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