Loading ...I read that report on Basel 3 ….and can’t believe that the Fed etc would let that happen…..I have often thought that the real possy that the scum can never cover is hidden in the far fwds of the London Mkt, which no-one sees, or reports…it is just rolled over, well before it becomes due/spot…that way it never really settles, as the Feds credit is in theory limitless…they just ‘owe’ JPM a couple of $ trillion, in some account kept in the bottom draw…wink, wink.
So if the London unalocated mkt gets closed down….it can’t happen etc….and as Basel 3 is voluntary, I’m sure they will agree etc.