The ECB just announced that five banks do not meet capital requirements.
If the ECB admits five, how many are there? Five? Ten? Twenty? A hundred?
If you know the answer, you certainly know more than me.
ECB Admits Five Banks Don’t Meet Capital Requirements
Via translation, Huky Guru reports ECB Detects Five Eurozone Banks Don’t Meet Capital Requirements.
A report by the ECB figure in five eurozone institutions that do not meet the minimum capital requirements required by the institution, but has not detailed the names of these banks.
Specifically, the report indicates that five banks have failed to meet the requirements of Tier 1 capital required by the SREP, but has not disclosed which ones. A sixth bank achieved the level of “almost” capital impaired.
Three Cockroach Rules
- There’s never just one.
- There’s always more than you see.
- There’s always more cockroaches than anyone admits, especially central banks.
Mike “Mish” Shedlock
The Air Force is making parts for its experimental scramjet with a 3D printer because it is the only way to manufacture the internal chemical and crystalline structure needed to withstand the extreme forces at 7x speed of sound. How soon before an entire plane is just printed out?
Maybe rats is a better comparison. Cockroaches can survive a nuclear bomb!
Deutsche Bank looks more like a tarantula.
Rule 4: There is no easy way to eradicate cockroaches. That includes central banks.
REMINDS ME OF THE MOVIE: “AND THEN THERE WERE NONE”
https://youtu.be/y3EJ9f_7rHQ
FOR THOSE THAT DON’T HAVE TIME TO WATCH THE MOVIE:
And Then There Were None (1945 film) – Wikipedia, the free …
https://en.wikipedia.org/wiki/And_Then_There_Were_None_(…
Wikipedia
And Then There Were None is a 1945 film adaptation of Agatha Christie’s … With two deaths matching the Ten Little Indians nursery rhyme, they search the …
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Saturday, August 22, 2015
Weekly Commentary: It’s Always Worse Than You Think
http://creditbubblebulletin.blogspot.com/2015/08/weekly-commentary-its-always-worse-than.html
Excerpt:
As an analyst of Credit and (serial) Bubbles going back 25 years, there’s a recurring theme that is especially pertinent these days. Financial and economic Bubbles invariably prove much more resilient than Bubble analysts presume. And, at the end of the day, the excesses and consequences go beyond what even the hardcore “bears” could anticipate. The adage around our office became: “It’s Always Worse Than You Think.”