v3 Chapter 1321： Panic Continental Bank

Latest website: This plan is only difficult to act, but Harris Rohill can arrange it alone.

That night, he took the initiative to say that he would do his best to do this, while others would integrate their reserve funds as soon as possible and prepare to seize the opportunity to counterattack!

Time is running out. After everyone left, Harris Rohill immediately called the family headquarters in London to apply for the use of global financial media resources.

On the early morning of May 23, a large number of experts from financial newspapers commented on the hidden financial problems and risks of the Bank of Illinois in the United States outside the United States, especially in Europe, island countries, and Australia.

The reason why he did not report in the United States is because Harris Rohill wanted to hit the key to the mainland Illinois Bank, and did not want to leak the news in the United States in advance, so that the Chicago consortium would be prepared.

Because most of the funds of the Mainland Bank of Illinois come from short-term high-interest deposits from foreign financial institutions, as well as overseas private deposits.

The Continental Bank of Illinois in the United States has only one headquarters and two buildings. It is not the kind of community bank that blooms everywhere.

So even if the crisis breaks out, there will be no such situation where angry customers line up outside waiting for withdrawals.

These international financial institutions do not need to withdraw funds, and can process them electronically at the first time, and refuse to automatically roll their short-term deposits in the mainland Illinois Bank.

This refusal is actually equivalent to freezing the funds first, and then it is not too late to raise them.

Of course, to freeze in disguise, it is also necessary for mainland Illinois Bank to have money inside. If you can't figure it out within a few days, it's over!

So this still has to compete for speed, first can ensure the safety of funds!

After the exposure of the financial media outside the United States, it immediately caused a shock in the international financial market.

In particular, the international banks that have deposit business in the Illinois Bank of the Mainland have convened emergency meetings one after another to discuss whether to actively default, give up deposit profits and pay a small amount of liquidated damages to withdraw deposits.

Of course, there are some who do not need to negotiate and withdraw funds to the Mainland Bank of Illinois as soon as possible.

For example, Barclays Bank of the United Kingdom applied for a withdrawal of a short-term deposit of US$190 million in the Bank of Illinois on the mainland.

The Austrian Central Cooperative Bank’s short-term deposit of US$140 million in the Mainland Bank of Illinois also applied for withdrawal.

Several other banks controlled by the Rohill family also applied to withdraw their deposits as soon as possible.

Add up to a total of 490 million US dollars!

News from abroad quickly spread back to the United States. When Chairman and President James McCormick was frightened and was about to convene a meeting with senior executives, many European banks refused to roll over funds, and the amount of up to 490 million US dollars followed closely. Happened later.

James McCormick only felt his scalp numb, and he almost ran into the conference room.

The information processing departments and offices of the Continental Bank of Illinois are busy.

On the morning of May 23, Chicago, Headquarters of the Continental Bank of Illinois.

The atmosphere in the meeting room was extremely depressing. Everyone sitting in there was solemn. No one took the initiative to speak. They all lowered their heads and looked at the materials handed out.

When the last person came in.

"Bump!"

James McCormick ignored his image and patted the table, drawing everyone's attention to himself.

He stood up, put his hands on the table, leaned forward, his face was very dignified, and said in a deep voice:

"Everyone has read the information. Our bank has encountered a huge crisis. This is an enemy's conspiracy, and the enemy is very powerful!"

"Barclays Bank, Central Savings Bank of Austria, etc., the first batch of banks that applied to stop the automatic rolling of funds, and actively defaulted on the agreement to apply for withdrawal, all have a common controller behind the scenes-the Rohill family!"

"Now, the Canadian branch of the Lowhill family is currently fighting fiercely with us in the Canadian financial market."

"The reason is clear, because the bulls in the Canadian foreign exchange market are almost unsupported."

"Their purpose is also very clear, trying to use this method to break our capital chain, forcing us to take the initiative to withdraw funds!"

"Although the crisis has just occurred, the enemy's attacks are very fierce. According to incomplete statistics, a total of 67 media outlets around the world are known to spread rumors against our bank!"

"Call everyone to a meeting urgently, and the theme of the meeting is one to solve this crisis!"

"What can you do?"

James McCormick finished speaking in one breath, sat down again, took a sip from the cup, panted, and looked expectantly at everyone present.

"Chairman, we must immediately arrange for someone to take the initiative to call those customers with deposits of more than 10 million U.S. dollars, explain the reasons clearly to them, and reassure them as much as possible, and we must not let this panic expand rapidly."

"The Lowhill family’s business in our bank is only 490 million US dollars. Their behavior is to set fire. As long as we sustain the first wave of the Rohill family’s offensive, then with the amount of funds in our bank, we can do nothing. Withdraw funds from the Canadian foreign exchange market."

A vice president named Patton Armstrong immediately expressed his opinion.

"I agree with the opinion of Vice President Armstrong. The crisis has just arrived. We can't panic. It is not enough to withdraw funds from the Canadian foreign exchange market. At present, the Canadian dollar exchange rate against the US dollar has fallen to about 0.7868 points. The downside is huge profits."

"If we take the initiative to withdraw funds, then the purpose of the Rohill family will be achieved, and our amount of funds is too large, and if it is delivered urgently, the delivery price will be at a loss."

"And our withdrawal of funds will be infinitely magnified, and international institutions will think that there is a real problem with our capital chain, so they will make this unwise behavior.

Another vice president, Jones Clark, said clearly.

"Withdrawing funds is the last step. I also think that the most important thing now is to immediately contact major customers, appease them, and ask them for support."

"If necessary can temporarily promise to increase interest rates."

An executive said immediately.

But another executive immediately retorted: "The act of increasing interest rates is not desirable. This will only make big customers think that our funds are really problematic, so they will take this special behavior."

Another executive made a key suggestion: "I suggest to immediately apply for help from the supervisory authority, and request a public statement from the Office of the Comptroller of the Currency to let the government endorse our bank!"

"If our bank really went bankrupt and went bankrupt, it would definitely be enough to cause an outbreak of financial risks across the United States, and the government will never allow this to happen!"

"I agree!"

"I also agree. I suggest using personal connections to let the three major rating agencies, Standard & Poor's, Moody's and Fitch, come forward to guarantee us and crush all rumors!"