Saturday, November 8, 2008

US banks deeper in red

This is getting quite serious. For the first time, US banks' Nonborrowed reserves dipped below 0 since January 08.

US Bank Nonborrowed reserves (Sept. 08)

-$187.305 Billion

Then the $700B bailout (actually $850Billion, but who's counting?)

Today (Nov.) it's at
-$259.385 Billion

while the Fed based requirement sits at $52.272 Billion

Source: The US Federal Reserve

The tax payer Wall Street handout didn't seem to "rescue" much, or am I missing something?

0 Reflections: