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THIS CAN"T BE GOOD...Banks Are So Stuffed With Cash They Tell Companies: No More Deposits

 
Don Draper from Nantucket
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06/10/2021 03:23 PM

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THIS CAN"T BE GOOD...Banks Are So Stuffed With Cash They Tell Companies: No More Deposits
[link to www.zerohedge.com (secure)]


Banks are so overloaded with cash they are losing money on deposits...



No More Cash Please
Some banks, awash in deposits, are encouraging corporate clients to spend the cash on their businesses or move it elsewhere. It's a strange case of "No More Cash Please".

U.S. companies are holding on to billions of dollars in cash. Their banks aren’t sure what to do with it. Some banks are encouraging corporate customers to consider alternatives.

Top of mind for many big banks is a rule requiring them to hold capital equivalent to at least 3% of all assets. Worried about the rule’s impact during the pandemic, the Fed changed the calculation in 2020 to ignore deposits the banks held at the central bank, but ended that break this March. Since then, some banks have warned the growing deposits could force them to raise more capital, or say no to deposits.

“Raising capital against deposits and/or turning away deposits are unnatural actions for banks and cannot be good for the system in the long run,” Jennifer Piepszak, then-CFO of JPMorgan Chase & Co., said on a call with analysts in April.

One strategy is reverse tiering, giving clients lower yields for additional deposits. Asking customers to move some funds to another, smaller bank also is an option, said Pete Gilchrist, an executive vice president at Novantas Inc., which advises banks.

In recent months, banks including BNY Mellon have focused on moving clients from deposits into money-market funds. The money-market funds, in turn, need new places to park all that new cash and earn some interest. But rock-bottom interest rates have pushed them into storing it back at the Federal Reserve overnight, in a facility that pays them zero return and had been largely ignored for the past three years.

Nonsensical QE
Bear in mind that the Fed, via QE has been stuffing banks with cash for a year at a rate of about $120 billion a month.

Not only do the banks have no use for it, it's starting to cost them money.

The Fed's solution, using the word loosely, is to do reverse Repos draining banks of cash.

Reverse repos topped $500 billion this week, effectively undoing over four months of QE.
Too late too late will be the cry!
Jury Nullification, learn it, live it!
If ignorance is bliss than knock the smile off my face.
Everyone has a plan til they get punched in the face. M Tyson
They don't need to burn the books they just remove em!
Don Draper from Nantucket  (OP)
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06/10/2021 03:24 PM

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Re: THIS CAN"T BE GOOD...Banks Are So Stuffed With Cash They Tell Companies: No More Deposits
Bear in mind that the Fed, via QE has been stuffing banks with cash for a year at a rate of about $120 billion a month.

Not only do the banks have no use for it, it's starting to cost them money.

The Fed's solution, using the word loosely, is to do reverse Repos draining banks of cash.

Reverse repos topped $500 billion this week, effectively undoing over four months of QE.

Too late too late will be the cry!
Jury Nullification, learn it, live it!
If ignorance is bliss than knock the smile off my face.
Everyone has a plan til they get punched in the face. M Tyson
They don't need to burn the books they just remove em!
Perma-Banned

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06/10/2021 03:37 PM

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Re: THIS CAN"T BE GOOD...Banks Are So Stuffed With Cash They Tell Companies: No More Deposits
Bear in mind that the Fed, via QE has been stuffing banks with cash for a year at a rate of about $120 billion a month.

Not only do the banks have no use for it, it's starting to cost them money.

The Fed's solution, using the word loosely, is to do reverse Repos draining banks of cash.

Reverse repos topped $500 billion this week, effectively undoing over four months of QE.

 Quoting: Don Draper from Nantucket


It sure ain't good...It won't be long now!!!
Banned again man!!!
Anonymous Coward
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06/10/2021 03:42 PM
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Re: THIS CAN"T BE GOOD...Banks Are So Stuffed With Cash They Tell Companies: No More Deposits
there's an electron shortage!!
Don Draper from Nantucket  (OP)
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06/10/2021 03:43 PM

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Re: THIS CAN"T BE GOOD...Banks Are So Stuffed With Cash They Tell Companies: No More Deposits
Bear in mind that the Fed, via QE has been stuffing banks with cash for a year at a rate of about $120 billion a month.

Not only do the banks have no use for it, it's starting to cost them money.

The Fed's solution, using the word loosely, is to do reverse Repos draining banks of cash.

Reverse repos topped $500 billion this week, effectively undoing over four months of QE.

 Quoting: Don Draper from Nantucket


It sure ain't good...It won't be long now!!!
 Quoting: Perma-Banned


hesright
Too late too late will be the cry!
Jury Nullification, learn it, live it!
If ignorance is bliss than knock the smile off my face.
Everyone has a plan til they get punched in the face. M Tyson
They don't need to burn the books they just remove em!
Anonymous Coward
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06/10/2021 03:50 PM
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Re: THIS CAN"T BE GOOD...Banks Are So Stuffed With Cash They Tell Companies: No More Deposits
Has to be fake news since physical CASH would represent a tiny fraction of the banks USD deposits.
Don Draper from Nantucket  (OP)
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06/10/2021 03:51 PM

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Re: THIS CAN"T BE GOOD...Banks Are So Stuffed With Cash They Tell Companies: No More Deposits
Has to be fake news since physical CASH would represent a tiny fraction of the banks USD deposits.
 Quoting: Anonymous Coward 80465505


comeonman
Too late too late will be the cry!
Jury Nullification, learn it, live it!
If ignorance is bliss than knock the smile off my face.
Everyone has a plan til they get punched in the face. M Tyson
They don't need to burn the books they just remove em!
Anonymous Coward
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06/10/2021 03:52 PM
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Re: THIS CAN"T BE GOOD...Banks Are So Stuffed With Cash They Tell Companies: No More Deposits
Has to be fake news since physical CASH would represent a tiny fraction of the banks USD deposits.
 Quoting: Anonymous Coward 80465505


there's an electron shortage.

nothing is shipping from China.
Don Draper from Nantucket  (OP)
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06/10/2021 04:12 PM

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Re: THIS CAN"T BE GOOD...Banks Are So Stuffed With Cash They Tell Companies: No More Deposits
Has to be fake news since physical CASH would represent a tiny fraction of the banks USD deposits.
 Quoting: Anonymous Coward 80465505


there's an electron shortage.

nothing is shipping from China.
 Quoting: Anonymous Coward 7282682


wtfdid
Too late too late will be the cry!
Jury Nullification, learn it, live it!
If ignorance is bliss than knock the smile off my face.
Everyone has a plan til they get punched in the face. M Tyson
They don't need to burn the books they just remove em!
Anonymous Coward
User ID: 78583157
06/10/2021 04:14 PM
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Re: THIS CAN"T BE GOOD...Banks Are So Stuffed With Cash They Tell Companies: No More Deposits
Has to be fake news since physical CASH would represent a tiny fraction of the banks USD deposits.
 Quoting: Anonymous Coward 80465505


there's an electronics shortage.

nothing is shipping from China.
 Quoting: Anonymous Coward 7282682


wtfdid
 Quoting: Don Draper from Nantucket


fixed
Don Draper from Nantucket  (OP)
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06/10/2021 05:13 PM

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Re: THIS CAN"T BE GOOD...Banks Are So Stuffed With Cash They Tell Companies: No More Deposits
Has to be fake news since physical CASH would represent a tiny fraction of the banks USD deposits.
 Quoting: Anonymous Coward 80465505


there's an electronics shortage.

nothing is shipping from China.
 Quoting: Anonymous Coward 7282682


wtfdid
 Quoting: Don Draper from Nantucket


fixed
 Quoting: Anonymous Coward 78583157


Ahhh Gotcha!
Too late too late will be the cry!
Jury Nullification, learn it, live it!
If ignorance is bliss than knock the smile off my face.
Everyone has a plan til they get punched in the face. M Tyson
They don't need to burn the books they just remove em!
Don Draper from Nantucket  (OP)
Silver Bitchezz

User ID: 57553864
United States
06/10/2021 06:12 PM

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Re: THIS CAN"T BE GOOD...Banks Are So Stuffed With Cash They Tell Companies: No More Deposits
bUmp
Too late too late will be the cry!
Jury Nullification, learn it, live it!
If ignorance is bliss than knock the smile off my face.
Everyone has a plan til they get punched in the face. M Tyson
They don't need to burn the books they just remove em!
beeches

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06/10/2021 06:35 PM

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Re: THIS CAN"T BE GOOD...Banks Are So Stuffed With Cash They Tell Companies: No More Deposits
dollars
we only have each other. And that makes us rich.. . .

Wisdom in the man, patience in the wife, brings peace to the house and a happy life.
Don Draper from Nantucket  (OP)
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06/10/2021 08:36 PM

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Re: THIS CAN"T BE GOOD...Banks Are So Stuffed With Cash They Tell Companies: No More Deposits
dollars
 Quoting: beeches


jay
Too late too late will be the cry!
Jury Nullification, learn it, live it!
If ignorance is bliss than knock the smile off my face.
Everyone has a plan til they get punched in the face. M Tyson
They don't need to burn the books they just remove em!
Anonymous Coward
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United States
06/10/2021 08:41 PM
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Re: THIS CAN"T BE GOOD...Banks Are So Stuffed With Cash They Tell Companies: No More Deposits
Has to be fake news since physical CASH would represent a tiny fraction of the banks USD deposits.
 Quoting: Anonymous Coward 80465505


Unless a lot of out of country money is coming back to buy goods before the bust.
Goneviral

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06/10/2021 08:43 PM

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Re: THIS CAN"T BE GOOD...Banks Are So Stuffed With Cash They Tell Companies: No More Deposits
5 star thread club
Acts 2:38 King James Version (KJV)
38 Then Peter said unto them, Repent, and be baptized every one of you in the name of Jesus Christ for the remission of sins, and ye shall receive the gift of the Holy Ghost.
Anonymous Coward
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06/10/2021 08:43 PM
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Re: THIS CAN"T BE GOOD...Banks Are So Stuffed With Cash They Tell Companies: No More Deposits
1.9 TRILLION COVID BUKKKKS



https://imgur.com/qxi5r95
Don Draper from Nantucket  (OP)
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06/10/2021 08:48 PM

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Re: THIS CAN"T BE GOOD...Banks Are So Stuffed With Cash They Tell Companies: No More Deposits
1.9 TRILLION COVID BUKKKKS



https://imgur.com/qxi5r95

 Quoting: Anonymous Coward 74004428


10% for the big guy!
Too late too late will be the cry!
Jury Nullification, learn it, live it!
If ignorance is bliss than knock the smile off my face.
Everyone has a plan til they get punched in the face. M Tyson
They don't need to burn the books they just remove em!
Anonymous Coward
User ID: 80461082
06/10/2021 09:56 PM
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Re: THIS CAN"T BE GOOD...Banks Are So Stuffed With Cash They Tell Companies: No More Deposits
ruh roh
TheFool
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06/10/2021 10:12 PM

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Re: THIS CAN"T BE GOOD...Banks Are So Stuffed With Cash They Tell Companies: No More Deposits
bump
***All in my opinion of course***
Don Draper from Nantucket  (OP)
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06/10/2021 10:59 PM

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Re: THIS CAN"T BE GOOD...Banks Are So Stuffed With Cash They Tell Companies: No More Deposits
bump
 Quoting: TheFool


Appreciate the bump. I would hope more people see this thread and realize just how significant this is the overall monetary system and the impending collapse that is certainly coming. All the pieces are falling into place for the biggest monetary collapse ever.
Too late too late will be the cry!
Jury Nullification, learn it, live it!
If ignorance is bliss than knock the smile off my face.
Everyone has a plan til they get punched in the face. M Tyson
They don't need to burn the books they just remove em!
Don Draper from Nantucket  (OP)
Silver Bitchezz

User ID: 57553864
United States
06/11/2021 08:06 AM

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Re: THIS CAN"T BE GOOD...Banks Are So Stuffed With Cash They Tell Companies: No More Deposits
ruh roh
 Quoting: Anonymous Coward 80461082


THIS^^^^^
Too late too late will be the cry!
Jury Nullification, learn it, live it!
If ignorance is bliss than knock the smile off my face.
Everyone has a plan til they get punched in the face. M Tyson
They don't need to burn the books they just remove em!





GLP