Rebirth 79: I opened a bank in the United States

Chapter 964

10 Month 20 Day!
On a new day, dark clouds still hang over New York.

What spread to everyone's ears faster than the bell of the New York Stock Exchange was the announcement that major commercial banks would stop providing credit endorsements to securities firms, as expected.

No one was surprised by this.
After all, not every brokerage is sober and rational in judging the current situation.Even Peter Lynch and the like, who had a premonition of the stock market crash, still had a glimmer of hope in their minds.

But what about stockbrokers in general?
Yesterday, when the stock market plummeted, it may be due to a wrong market judgment that the stock market can be rescued, or because of the delay in updating information, the stock price they saw was not the real price, so that a large amount of cash All invested in the purchase of stocks.Now once the bank stops providing credit guarantees, and further stops lending.

There are only two ways to go waiting for them: go bankrupt or seek mergers!
Just as the brokerages were in mourning, another news spread from Washington to New York.
"To fulfill its responsibilities as a central bank, and to support the normal functioning of the economy and the financial system, the Federal Reserve System reaffirms today that it will ensure the liquidity of the financial system!"

Greenspan's speech undoubtedly threw the life-saving straw to the desperate brokerages.

Especially after this sentence was finished, Bank of America and Chase Bank successively announced the reduction of loan interest rates.It also made people see that in this crisis, the actions of the federal government
At the same time, in the Red Hat Building, there is also a shop of about 500 square meters that is being renovated rapidly.
"Carter, the license has been issued to you, now you can see how much you can bear, don't worry, I will give you a guarantee of the lowest discount rate after I negotiate!"

"Understood, the Manhattan branch is under renovation, and it is expected to be put into use at 10:30 am. I have asked the manager there to go to the New York Federal Reserve Bank to get the loan application materials!"

With this shareholder style, Carter's black-flag commercial bank license was also upgraded from a Connecticut-level license to a "national"-level license.

Formally possesses the legal qualification to circumvent geographical restrictions on commercial banks!
At the same time, loan applications from fellow banks also flowed from the New York Federal Reserve to the Black Flag National Commercial Bank Federal Reserve's large-value transfer system, and one remittance application was received after another.
until after the market opens
"According to last night's plan, cancel the purchase order of 60 billion US dollars. For the rest, first raise the purchase price of the limit order on Coca-Cola's side to 44 US dollars. Release it directly, and collect as much as you can!"

"In addition, after closing positions, the remaining funds will be concentrated in buying stocks of General Electric, Boeing, American Express, and Chrysler! If you have more funds, buy some Microsoft and Westinghouse Electric!"

After talking on the phone, and finally emphasizing the plan that was discussed overnight last night, Carter finally couldn't bear it anymore.

In a hotel bed, falling asleep
After a day of rough wind and waves, I ran between Atlanta and Washington that night. I had to report the situation with Brother Genzi, communicate with the Federal Reserve, and arrange the following work.
It’s not exhausting, but it all pays off!
Just as Carter fell asleep, New York.
"Black Flag Bank? Where did this guy come from?!"

"Don't ask me, I don't know! But I can only say that we really have no money in the New York Fed. Except for the loan approved by Chase, the rest of the money went to Boston. Now you want to loan To pay, you can only go to Black Flag Bank, this is the credit and asset certificate I issued to you, take this and go to Fifth Avenue!"

Almost every commercial bank that applied for a loan heard the name of Black Flag Bank at the New York Fed.mood, slightly complicated
From despair to seeing hope, I rushed to the New York Fed to apply for a loan.In the end, I was told that the New York Fed had no money, but they could issue you a letter of guarantee and a credit certificate, and take them to Chase or Black Flag for interbank lending.
Chase Bank is an old acquaintance, and everyone is familiar with it.but that black flag
Wary of the new faces, people head back to Chase, and it turns out
"Don't come! Go find the black flag, we have no money! The New York Fed just gave it a little bit, didn't you see the brokerages queuing up outside?!"

"Their loans are not enough, how do you ask me to lend?!"

The same money, lending to a brokerage is a commercial loan.Lending to peers belongs to interbank lending. The interest rates of the two are obviously different. If you can make more money, fools will make less!

As an established commercial bank, the people at Chase knew very well that the black-flag commercial bank that popped up all of a sudden, even the business license was urgently obtained last night.

Being able to get the license issued in the middle of the night, this family obviously has a lot of background.Moreover, combined with news from the New York Fed, they are also one of the partners of the Fed.
Then, it is obviously impossible to prevent it from entering New York, but Chase is still very happy to add some congestion to it!
A direct result of this is that
Carter had just fallen asleep, and within three hours, he was awakened by a call from New York.
"Sorry, Mr. Black, it's not that we want to disturb you. Rather, there are too many banking institutions applying for interbank lending, and the loan amount has exceeded the range you specified."

"Ask Goodman about this! Didn't I call him over? Hasn't he arrived yet?"

"No, Mr. Goodman is accompanying them in the reception room. It's not good for us to say these words in front of the guests."

"Okay, what is the total amount of these applications? Isn't 25 billion US dollars not enough for them?!"

Carter leaned against the head of the bed and lit a cigarette to cheer himself up.

"It's not enough at all. The Chemical Bank alone applied for 4 million US dollars. According to their conditions, we can't refuse this 4 million US dollars of loans. There are many other applications like this."

"What's the total amount?"

Chemical Bank, the name is not well known.But as far as today is concerned, there are more than 290 branches in the United States, and there are 13 overseas branches. The total assets exceeded 700 billion US dollars before the sharp drop yesterday.
A well-established large commercial bank, one of the top 50 banks in the world, applied for a turnover of 4 million U.S. dollars. From anyone's point of view, this is an application that is impossible to refuse.

Willing to bear, reduce profits, in order to provide loans, Carter's thinking also has some thoughts of friendship, and the idea of ​​helping the Black Flag Commercial Bank gain a firm foothold.
"As far as the current application is concerned, the total amount has exceeded 46 billion US dollars, and it may increase in the future. Mr. Black, look."

"Borrow! If the money from the stock market has not arrived in the account for a while, first fill it in with the money from the savings bank! The money that should be released should be released normally! You can pay whatever interest rate you want! Or don't do it, since you do it Let's be good people this time!"

"Remember, contact the Fox reporter and come over to report."

(End of this chapter)