Author: Khurav

October 20th!

It's a new day, and dark clouds are still hanging over New York.

What reached everyone's ears faster than the bell of the New York Stock Exchange was, as expected, the announcement that major commercial banks would stop providing credit endorsements to securities dealers.

This comes as no surprise to anyone.

After all, not every brokerage is sober and rational in their judgment of the current situation. Even people like Peter Lynch had a premonition that the stock market crash was coming, but they still had a glimmer of hope for the better.

What about general securities firms?

Yesterday, when the stock market plummeted, perhaps it was because of wrong market judgment that the stock market could still be saved, or because of the delay in information update, the stock price they saw was not the real price, so that a large amount of cash

They have all invested in the purchase of stocks. Now once the bank stops providing credit guarantees, it will further stop lending.

There are only two options left for them: go bankrupt or seek mergers!

Just as the brokers were in distress, another piece of news spread from Washington to New York.

"In order to fulfill its responsibilities as a central bank, and to support the normal operation of the economy and financial system, the Federal Reserve System reiterated today that it will ensure the liquidity of the financial system!"

Greenspan's speech undoubtedly threw a life-saving straw to the desperate brokers.

Especially after these words were spoken, Bank of America and Chase Bank successively announced reductions in loan interest rates. It also allowed people to see the actions of the federal government in this crisis.

At the same time, in the Red Hat Building, there is also a shop of about 500 square meters that is being quickly renovated.

"Carter, the license has been issued to you. Now you can see how much you can afford. Don't worry, I will give you a guarantee of the lowest discount rate when we negotiate later!"

"Understood, the Manhattan branch is under renovation and is expected to be put into use at 10:30 am. I have asked the manager there to go to the New York Federal Reserve Bank to get the loan application materials!"

With this shareholder style, the Black Flag Commercial Bank license under Carter's name was upgraded from a Connecticut-level license to a "national" license.

We officially have the legal qualifications for commercial banks to bypass geographical restrictions on their operations!

At the same time, loan applications from fellow banks flowed from the New York Fed to the Black Flag National Bank of Commerce's large-value transfer system, and remittance applications were also received one after another.

Until after the market opens

"According to last night's plan, cancel the $6 billion buy order. For the rest, first mention the purchase price of Coca-Cola's limit order and change it to $44. Post it directly and charge as much as you can!"

"In addition, after the liquidation is completed, the remaining funds will be concentrated on buying the stocks of General Electric, Boeing, American Express and Chrysler! If there are still more funds, buy some Microsoft and Westinghouse Electric!"

After talking on the phone and once again emphasizing the plan that was discussed all night last night, Carter finally couldn't bear it any longer.

On the hotel bed, fell asleep

After a stormy day, I traveled to Atlanta and Washington that night. At the same time, I had to report the situation to Genzi and several others, communicate with the Federal Reserve, and arrange the following work.

It’s not exhausting, but it all pays off!

Just as Carter fell asleep, New York.

"Black Flag Bank? Where did this guy come from?!"

"Don't ask me, I don't know! But I can only say that we are really out of money at the New York Fed. Except for the loans approved by Chase, all the remaining money went to Boston. Now you want to borrow

To pay, you can only go to Black Flag Bank. This is the credit and asset certificate I issued to you. Take this and go to Fifth Avenue!"

Almost every commercial bank that applied for a loan heard the name Black Flag Bank from the New York Fed. I felt a little mixed.

From despair to seeing hope, I rushed to the New York Fed to apply for a loan. I was told that the New York Fed didn't have any money, but it could issue you a letter of guarantee and credit certificate. Take them to Chase, or

Black flag for inter-bank lending.

Chase Bank is an old acquaintance, everyone is familiar with it. But that black flag

Wary of new faces, people turned around and rushed to Chase Bank, only to find out

"Don't come! Go to Black Flag, we don't have any money! The New York Fed only gave a little, didn't you see the brokers queuing up outside?!"

"Their loans are not enough, how do you want me to lend money?!"

Lending the same money to a securities firm is a commercial loan, while lending it to a peer is an interbank loan. The interest rates of the two are obviously different. Only fools can make more money!

As a long-established commercial bank, people at Chase are very aware of the sudden appearance of some black flag commercial bank. Even its business license was issued on a temporary basis last night.

Being able to get the license in the middle of the night, this company obviously has a lot of background. Moreover, based on the news from the New York Fed, they are also one of the partners of the Federal Reserve.

So, it is obviously impossible to prevent it from entering New York, but Chase is still happy to add some congestion to it!

The direct result of this is

Carter had just fallen asleep, but within three hours he was awakened by a phone call from New York.

"Sorry, Mr. Black, it's not that we want to disturb you. It's just that there are too many banking institutions applying for interbank lending, and the loan amount has exceeded the range you specified."

"Ask Goodman about this! Didn't I call him over? Haven't they arrived yet?"

"No, no, Mr. Goodman is accompanying them in the reception room. It's not good for us to say these things in front of the guests."

"Okay, what's the total amount of these applications? Isn't US$2.5 billion enough for them?!"

Carter leaned on the bedside and lit a cigarette to cheer himself up.

"It's totally not enough. Chemical Bank alone has applied for US$400 million. According to their conditions, we cannot refuse this US$400 million loan. There are many more applications like this."

"What's the total?"

Chemical Bank is not a well-known name. But now, there are more than 290 branches in the United States, and there are 13 overseas branches. The total assets exceeded 70 billion US dollars before yesterday's plunge.

A well-established large commercial bank, one that ranks among the top 50 banks in the world. They applied for a turnover of 400 million US dollars. No matter who looked at it, this application was impossible to refuse.

Carter was willing to bear the reduction of profits in order to provide loans. Carter's thoughts also included some thoughts of friendship and the thought of helping Black Flag Commercial Bank gain a foothold.

"Based on the current application calculation, the total amount has exceeded 4.6 billion US dollars, and it may increase in the future. Mr. Black, look at it."

"Borrow it! If the money from the stock market has not arrived yet, use the money from the savings bank to fill it in first! The money that should be loaned should be released normally! The interest rate should be given at the same rate! Either don't do it, since you do it

Now, let’s be the good guys this time!”

"Remember, contact the Fox reporter and come over to report it."
Chapter completed!