Repo 105 Etc.
Wall Street Journal:
Big Banks Mask Risk Levels Quarter-End Loan Figures Sit 42% Below Peak, Then Rise as New Period Progresses; SEC Review
Major banks have masked their risk levels in the past five quarters by temporarily lowering their debt just before reporting it to the public, according to data from the Federal Reserve Bank of New York.A group of 18 banks—which includes Goldman Sachs Group Inc., Morgan Stanley, J.P. Morgan Chase & Co., Bank of America Corp. and Citigroup Inc.—understated the debt levels used to fund securities trades by lowering them an average of 42% at the end of each of the past five quarterly periods, the data show. The banks, which publicly release debt data each quarter, then boosted the ...
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I thought parking trades was illegal. Oh sorry, that's just on the floor.
See my rant on this topic from Feb.18
So once again the thought occurs ..Greece probably NOT UNIQUE ...... see Dubai Not Unique
(from Nov. 30). I mean why help out just one struggling nation when so many others are equally in need?
And the SP is of course up this morning (for now).