UPDATED 12:48 PM EST — Report: “A Systemically-Important Bank Collapsed At 2:47 AM Sunday”??

• UPDATED 12:48 PM EST — Report: “A Systemically-Important Bank Collapsed At 2:47 AM Sunday”??
  by https://halturnerradioshow.com/
  As this story is written, it is 11:01 AM eastern U.S. time on Sunday, December 28.  Reports have been coming in CLAIMING “a systemically important bank, a major player in Silver Futures, failed to pay its Margin Call by 2:00 AM and was liquidated by the futures Exchange at 2:47 AM eastern US time.”
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  The reports are CONCEALING the name of the bank, but it is confirmed that overnight, the federal reserve was forced to pump another $34 Billion into the Banking System through its Emergency Overnight Repo facility.   This $34 Billion is on top of the $17 Billion which had to be pumped-in two days ago, on Friday morning.
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  The Bank involved is described as “one of the largest players in the precious metals derivatives market” blew past every risk limit, breached every covenant. and exhausted every line of credit.“
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  The Bank is further described as having been “massively short silver; we are talking massive positions numbering in the hundreds-of-millions ounces.”
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  According to the information coming out this morning, when Silver broke through $70 per ounce on Friday, this bank received a “Margin Call” from the Commodities Exchange(s) which “exceeded their liquid capital.”   I am further told that “the clearinghouse gave them until Sunday morning to post $2.3 BILLION in additional cash collateral.“
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  The report goes on to say that “over the past 36 hours, the Bank Executives frantically tried to raise cash. They reportedly called their counter-parties, they tried to sell assets, they begged for Bridge loans.  Nobody helped them.”
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  According to the reports, “Every major bank on Wall Street looked at the Bank’s Derivatives Book and saw the bank was “already dead;”  they just hadn’t stop moving yet.”
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  If these reports prove to be factual, and I have NO CONFIRMATION yet, the fall of this “systemically important” bank will have immediate repercussions throughout the entire banking system.   You see, a “systemically important” bank is a counter-party to many other banks in certain financial contracts, such as derivatives.   If the counter-party fails, all those derivative contracts are now failed. More info if and when I get it.  Check back later.
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  UPDATE 12:48 PM EST —
  According to additional information, at 2:47 AM the Bank notified the Exchange that they could NOT meet the $2.3 Billion margin call.  At 3:03 AM, the Exchange began forced liquidation of the Contracts.  By 4:15 AM, the Banks positions on the Exchange were fully closed.  SIXTEEN MINUTES LATER FEDERAL REGULATORS SEIZED THE BANK TO PREVENT A DISORDERLY UNWIND.

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