The Collapse of SVB, Silvergate & Signature Bank | Caitlin Long and Nic Carter
Supply Shock
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The Fed's FedNow Payment System Is Coming Online in July
The Fed confirmed that FedNow, which is the new payment system that is ultimately going to replace Fedwire, is coming online in July. The speed of money movement is going to increase inherently when you get a real-time system. And I was floored that the Fed said nothing in that press release about requiring the banks that are going to be offering FedNow to hold more liquidity. It means they don't get it yet. Totally agreed. They spent our financial regulators spent the last two, three months berating the crypto industry for introducing safety and soundness risks into the banking system. But there's something called an order that goes along with these actions that will come out later this year
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