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Thursday, July 17, 2008

some IndyMac numbers

Some numbers on IndyMac's asset & liability portfolios that were in a WSJ article I was just reading:

IndyMac had $19bn of deposits, of which $1bn was uninsured, held by ~10,000 different people (for an average of $100,000 per person). The article reports that IndyMac will make 50% of uninsured deposits available it sounds like eventually everyone will get their money back. Maybe once the FDIC breaks it up and sells off different pieces to other banks. so it's not a question of people losing their money, but of liquidity--some of those depositors won't be able to get all their money right away.

Also, they have $15bn of outstanding loans, of which ~$1.7bn are "nonperforming"(meaning, it seems, either 30 or 90 days past due:

The next thing I want to learn about is the SIPC (Securities Investor Protection Corporation), whose mission is "Restoring funds to investors with assets in the hands of bankrupt and otherwise financially troubled brokerage firms."

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