Not much going on, it was labor day, so most of the markets and regulatory announcements didn’t happen.<\/p>\n
That being said, it looks like we may have a couple new candidates for bank failure Fridays, with the Federal Reserve imposing restrictions on two correspondent banks<\/a>, Nebraska Bankers’ Bank of Lincoln, NE, and Midwest Independent Bank of Jefferson City, MO.<\/p>\n Correspondent banks are “banks for banks”, they provide clearing services, participate in large loans, etc. Silverton Bank<\/a> was a correspondent bank.<\/p>\n We are also seeing more clouds on the horizon with insurance, with the cost of reinsurance increasing<\/a>. <\/p>\n Reinsurance is basically insurance of the insurance companies, they sell risk to each other in order to spread the risk, and revenues, around.<\/p>\n As an aside, while I have been ranting about how the next crash is CRE, it might be insurance.<\/p>\n We are seeing more optimism among manufacturers, with the Price Waterhouse Coopers survey showing a 27% improvement<\/a>, which may mean that people are going to start restocking inventories.<\/p>\n In energy, oil was basically flat at $68.05\/bbl<\/a>, while in currency, the Yen rose against both the Euro and the dollar<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Not much going on, it was labor day, so most of the markets and regulatory announcements didn’t happen. That being said, it looks like we may have a couple new candidates for bank failure Fridays, with the Federal Reserve imposing restrictions on two correspondent banks, Nebraska Bankers’ Bank of Lincoln, NE, and Midwest Independent Bank …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1080,973,1135,1004,1045,985],"tags":[],"class_list":["post-191267","post","type-post","status-publish","format-standard","hentry","category-currency","category-economy","category-energy","category-finance","category-insurance","category-regulation"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/191267"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=191267"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/191267\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=191267"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=191267"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=191267"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}