Monday, February 8, 2010

Weekly H15 delayed -- from the Federal Reserve website:

No update on February 8, 2010

Due to inclement weather, the Federal Reserve Board is closed on Monday, February 8, 2010. The H.15 weekly release scheduled for today will not be published. The release and daily update will be published on Tuesday, February 9, 2010, unless otherwise announced.

Thursday, January 21, 2009

Freddie Mac's RNY page shows the 'open' as 09:30:52 EST, so that's what we're going with today.

Friday, January 15, 2010

Were you wondering why the 11th District Cost of Funds index leaped 84 basis points (0.84%) in a single month? This article in The Wall Street Journal explains why:

The jump in Cofi is tied to the wave of bank mergers caused by the financial crisis. It has its roots in the 2006 acquisition of California lender Golden West Financial Corp. by Wachovia Corp. The deal left Wachovia with souring mortgages and spurred that bank's sale to Wells Fargo & Co. in 2008. Wachovia was by far the biggest bank included in the Cofi calculation, and as part of its acquisition by Wells Fargo, it was removed from the report data for Cofi.

Read the whole thing.

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