> this happens while the bank still has enough liquidity to cover 50% of deposits
American banking receivership is actually an effective system. The point is to reorganise when things look, but aren’t, fucked.
American banking receivership is actually an effective system. The point is to reorganise when things look, but aren’t, fucked.
at crappy rates now (like most mortgages written in the last few years), but these borrowers seem extremely unlikely to default (and they can't refinance advantageously now so they are kinda stuck paying FRC)