JP Morgan warns hedge funds to expect intraday margin calls
US bank may demand variation margin ‘up to seven’ times a day after Archegos default
(www.risk.net)
🚔 Crime & Corruption 💸
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So does this mean banks may run out of money at any time?
Wells Fargo is closing personal lines of credit as well.
https://www.cnbc.com/2021/07/09/wells-fargo-closed-your-personal-line-of-credit-now-what-do-you-do.html
Shit, hopefully our mortgage gets approved next month 😬
Personal LOC is unsecured debt, a mortage is backed by an asset.
Assets are what banks are banking on right now. They oughta be fighting for that business.
Oh awesome, gotta get out of Illinois!
It means that, if you're a hedge fund, your credit and your good name ain't so good around here no more.