Run on the banks

[whoishac...@gmail.com]

First sign it is coming:

https://www.cnn.com/2020/03/18/economy/banks-cash-coronavirus/index.html

Reverse psychology 101.

Andrew

[whoishac...@gmail.com]

Citibank may close branches:

https://online.citi.com/US/JRS/pands/detail.do?ID=covid19

This is a very fluid, evolving situation and in the event that we are required to close a branch or we believe it's in the best interest of our clients and colleagues, we will do so. As always, we are available to serve you 24/7 by phone, online and through the Citi Mobile app.

Andrew

[Const]

Надо сказать, что вот СНН всё же удивительное подлое место.

Ведь козлу же понятно.
Что никто не планировал ничего такого.
А вот после этой идиотской статейки - БУДУТ.
Побегут.

Причем тут вообще ж каждому барану очевидно,
что уж кого-кого, а банки подопрут и никакой
такой успешный run попросту невозможен.

---
Const

[Const]

Run-то тут каким боком ?

---
Const

[whoishac...@gmail.com]

Atm daily cash withdraw limit is $2000:

https://online.citi.com/US/JRS/pands/detail.do?ID=CitigoldCompare

People can't drain accounts if branches are closed.

Andrew

[whoishac...@gmail.com]

Coronavirus causes JPMorgan Chase to temporarily close 20% of bank branches:

https://www.foxbusiness.com/markets/coronavirus-causes-jpmorgan-chase-to-temporarily-close-20-of-bank-branches

Andrew

[Георгий Малышев]

On 3/19/2020 08:31, whoishac...@gmail.com wrote:

Привет, Смирнов!

> Atm daily cash withdraw limit is $2000:

Да тебе столько за всю жизнь не заработать.

[Const]

whoishac...@gmail.com wrote:
> Coronavirus causes JPMorgan Chase to temporarily close 20% of bank branches:

> https://www.foxbusiness.com/markets/coronavirus-causes-jpmorgan-chase-to-temporarily-close-20-of-bank-branches

Что, никак не дойдет, что run тут не при чём ?

---
Const

[YuraS]

Кгхм...

[whoishac...@gmail.com]

Read about Bank holiday:

https://www.ushistory.org/us/49a.asp

It is a standard way to prevent bank run. All transactions are stopped. You can close branches to stop subset of transactions. Then come limits on online transaction so you can't move money out.

Andrew

[whoishac...@gmail.com]

And don't forget about security deposit boxes. Those are not insured by banks. Police services are already scaled down to violent crimes only. When prisoners are released because of corona virus fears and riots start they will be to busy to check closed bank alarm. How long will it take for creative minds to open that big door and pop out security deposit boxes? My guess is couple of hours.

[Slawa Olhovchenkov]

whoishac...@gmail.com wrote:

wcgc> Read about Bank holiday:

wcgc> https://www.ushistory.org/us/49a.asp

wcgc> It is a standard way to prevent bank run. All transactions are stopped. You can close branches to stop subset of transactions. Then come limits on online transaction so you can't move money out.

а кто у нас сегодня павлов?

--
Slawa Olhovchenkov

[whoishac...@gmail.com]

It has started:

https://www.wsj.com/articles/some-bank-branches-run-low-on-cash-as-customers-make-big-withdrawals-11584568519

Some branches of U.S. banks and credit unions have run low on cash as customers make big withdrawals, prompting regulators to warn that they are putting their money at risk.

Andrew

[whoishac...@gmail.com]

Banks impose withdrawal limits (unofficial):

https://news.bitcoin.com/us-cash-crisis-withdrawal-limits-bank-run-fear/

Andrew

[whoishac...@gmail.com]

More banks closing branches:

https://www.cleveland.com/moneymatters/2020/03/huntington-bank-to-close-branches-without-drive-thrus-to-reduce-spread-of-virus.html

Andrew

[whoishac...@gmail.com]

https://www.cnn.com/2020/04/24/success/fed-removes-savings-account-limits/index.html

The Fed removed the previous limit of six transfers or withdrawals per month in order to allow people greater access to their personal savings during this time of economic uncertainty and widespread unemployment.

Andrew