” Either the new Federal Reserve Chairman Janet Yellen is a prepper, or there is something afoot in the world of banking. If she is a prepper, I missed any indication of that in her background. Bankers typically talk in terms of contingency plans and liquidation programs, not prepping for disasters.
In January of this year, Supervisory Regulation (SR) 14-01 was issued in regarding the need for bank preparedness particularly for the eight bank holding companies (BHCs) in the United States. According to the memo, there are eight Bank Holding Companies that appear to be at risk and that risk threatens the financial stability of the United States. These eight companies are Bank of America Corporation, Bank of New York Mellon Corporation, PLC, Citigroup Inc., Goldman Sachs Group, Inc., JPMorgan Chase & Co., Morgan Stanley, State Street Corporation, and Wells Fargo & Company.”