by Pam Martens and Russ Martens, Wall St On Parade:
There are eight Global Systemically Important Banks (G-SIBS) in the U.S. They are: JPMorgan Chase, Citigroup, Bank of America, Goldman Sachs, Bank of New York Mellon, Morgan Stanley, State Street and Wells Fargo. These are the banks that pose the greatest risk to the stability of the U.S. financial system and are monitored under the Federal Reserve’s stress tests.
Five of those eight banks pose the greatest risk to financial stability because together they hold $200.18 trillion (yes trillion) in notional derivatives (face amount) or 86 percent of all derivatives held by all of the nation’s banks, according to the Office of the Comptroller of the Currency – the federal regulator of national banks. Those banks are: JPMorgan Chase, Citigroup, Goldman Sachs, Morgan Stanley, and Bank of America.
GOLD CLOSED DOWN $6.65 TO $1663.05//SILVER CLOSED DOWN 18 CENTS TO $19.17//PLATINUM ROSE BY $2.45 TO 921.15//PALLADIUM CLOSED DWON $69.10 TO $2147.10//UPDATES ON EUROPE/GERMANY’S ECONOMIC WOES RE ENERGY//HUNGARY’S GAS STATIONS WILL RUN OUT OF GAS IN ONE WEEK//EU THREATENS HUNGARY AGAIN AS THEY REFUSE TO TOE THE LINE//SWEDEN SHOCKS MARKETS WITH A 100 BASIS POINT INTEREST RATE RISE//RUSSIA VS UKRAINE UPDATES//COVID UPDATES//VACCINE MANDATES//DR PAUL ALEXANDER///VACCINE IMPACT//VACCINE INJURY//ATLANTA FED LOWERS Q3 GDP TO ONLY .3% YEAR/YEAR: IT WILL BE BELOW PAR BY THE END OF THE QUARTER//HUGE CRASH IN HOUSING PERMITS AS THE HOUSING SECTOR IN THE USA IMPLODES
