Bank of America Gets More Than $15B in Deposits After SVB Failure

Re:Bank of America Gets More Than $15B in Deposits After SVB... by unmole on Tuesday March 14, 2023 @11:02PM (#35163237)

JPMC is the only Tier-4 Global Systemically Important Bank in the world: https://en.wikipedia.org/wiki/List_of_systemically_important...

The reason it would be hit the hardest is because it's literally the biggest among entities deemed Too Big To Fail.

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Re:Bank of America Gets More Than $15B in Deposits After SVB... by yourapostasy on Wednesday March 15, 2023 @12:28AM (#35163885)

Makes one wonder what it takes to be designated Tier 5. On percentage of global GDP basis, surprisingly to laypeople JPMC hardly makes a dent measuring by AUM, but I’d like to see the total transaction value run through them tallied as a percentage of global GDP.

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Re:Bank of America Gets More Than $15B in Deposits After SVB... by credit_guy on Wednesday March 15, 2023 @03:23AM (#35164987)

Here’s a back of the envelope: the global GDP is about 100 Trillion USD [1]. The annual volume of Fedwire transactions is about 1 Quadrillion USD [2]. The Fed does not disclose volumes by bank, but let’s make the assumption they are roughly proportional with the AUM of the bank. JPMorgan has a 25% market share when calculated by AUM [3]. So a rough approximation would be that the volume of Fedwire transactions where JPMorgan is one of the counterparties is more than twice the global GDP.

[1] https://en.m.wikipedia.org/wiki/Gross_world_product

[2] https://www.frbservices.org/resources/financial-services/wir...

[3] https://www.statista.com/statistics/727548/market-share-top-...

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Re:Bank of America Gets More Than $15B in Deposits After SVB... by brutusurp on Wednesday March 15, 2023 @04:50PM (#35174526)

Doesn't make them trustworthy. It makes them a liability.

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