[flagged]
@dang, maybe consider banning the IP or something.
Status page for SVB payment systems
11–20 of 23 posts
Re: Status page for SVB payment systems
#12Didn't the company collapse and is now being run by the FDIC?
Well, yes. This page is probably talking about the bank formerly known as SVB; now known as DINB of Santa Clara.
Re: Status page for SVB payment systems
#13BAI2 now that's a term I haven't heard in a long time, thank goodness. I wonder if there files are read from an FTP server?
They use SFTP now.
Re: Status page for SVB payment systems
#14BAI2 now that's a term I haven't heard in a long time, thank goodness. I wonder if there files are read from an FTP server?
Yup, it is SFTP for both sending files (initiating payments) and receiving files (getting balances, confirmations, etc). This is how most programmatic money movement was happening under the hood at SVB (and many other banks for that matter).
Re: Status page for SVB payment systems
#15I gather moderntreasury.com is private company. It is slightly confusing - at first glance I thought this page and this info was connected to US Treasury Department.
Same, easy mistake.
Re: Status page for SVB payment systems
#16The head of finance at our company was in line all day this morning to transfer the company's money out of First Republic in South Bay. He said that the parking lot was filled with Ferraris and Porsches all illegally parked because there was no space left. Monday is going to be a very interesting day. If a buyer isn't found for SVB and possibly First Republic before the open on Monday, it might be a really bad day on…
We will see what happens this weekend but if Ackman is right then we’ll see bank after bank go to 0 in the coming weeks and months.
50% of mortgages were written (new + refinanced) between 2020 and 2022. These are all in bonds paying 3% or less. Who is holding these?
If deposits were used to buy these then so many banks are done for. Those depositors want their money back so they can get 4%+ interest now. Everyone is going to start to pull.
Contagion is here.
Re: Status page for SVB payment systems
#17The head of finance at our company was in line all day this morning to transfer the company's money out of First Republic in South Bay. He said that the parking lot was filled with Ferraris and Porsches all illegally parked because there was no space left. Monday is going to be a very interesting day. If a buyer isn't found for SVB and possibly First Republic before the open on Monday, it might be a really bad day on…
We will see what happens this weekend but if Ackman is right then we’ll see bank after bank go to 0 in the coming weeks and months. 50% of mortgages were written (new + refinanced) between 2020 and 2022. These are all in bonds paying 3% or less. Who is holding these? If deposits were used to buy these then so many banks are done for. Those depositors want their money back so they can get 4%+ interest now. Everyone is…
> These are all in bonds paying 3% or less. Who is holding these?
Fannie Mae and Freddie Mac. Most mortgage originators packaged up the mortgages and sold them immediately to the government.
Re: Status page for SVB payment systems
#18Earlier quoted context omitted.
We will see what happens this weekend but if Ackman is right then we’ll see bank after bank go to 0 in the coming weeks and months. 50% of mortgages were written (new + refinanced) between 2020 and 2022. These are all in bonds paying 3% or less. Who is holding these? If deposits were used to buy these then so many banks are done for. Those depositors want their money back so they can get 4%+ interest now. Everyone is…
> These are all in bonds paying 3% or less. Who is holding these? Fannie Mae and Freddie Mac. Most mortgage originators packaged up the mortgages and sold them immediately to the government.
They didn’t “sell them to the government”.
However, the Fed was actually a large purchaser of MBS if that is what you’re referring to.
Re: Status page for SVB payment systems
#19Earlier quoted context omitted.
We will see what happens this weekend but if Ackman is right then we’ll see bank after bank go to 0 in the coming weeks and months. 50% of mortgages were written (new + refinanced) between 2020 and 2022. These are all in bonds paying 3% or less. Who is holding these? If deposits were used to buy these then so many banks are done for. Those depositors want their money back so they can get 4%+ interest now. Everyone is…
> These are all in bonds paying 3% or less. Who is holding these? Fannie Mae and Freddie Mac. Most mortgage originators packaged up the mortgages and sold them immediately to the government.
Yep, my 2021 mortgage was sold before the first payment.
Re: Status page for SVB payment systems
#20BAI2 now that's a term I haven't heard in a long time, thank goodness. I wonder if there files are read from an FTP server?
Yup, it is SFTP for both sending files (initiating payments) and receiving files (getting balances, confirmations, etc). This is how most programmatic money movement was happening under the hood at SVB (and many other banks for that matter).
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