Chapter 1321: Terrified Continental Bank

The latest website: This plan is only difficult to act, but Harris Rothier can arrange it alone.

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

Time was running out. After everyone left, Harris Rothier immediately called the family headquarters in London to apply for a global financial media resource.

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

The reason why it is not reported in the United States is because Harris Rothschild is the key to the Continental Illinois Bank, and does not want to leak the news in the United States in advance, so that the Chicago consortium can take precautions.

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

Continental Bank of Illinois in the United States, with one headquarters and two buildings, is not the kind of community bank that blooms everywhere.

So even if a crisis hits, there won't be the kind of situation where angry customers are lining up outside to withdraw their money.

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

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

Of course, if you want to freeze in disguise, you also need to have money inside the Bank of Illinois in the mainland. If you can't get it done within a few days, it will be over!

Therefore, it is still necessary to compete for speed, and the first to start can ensure the safety of funds!

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

In particular, the international banks that have deposit business in the Bank of Illinois in mainland China have held emergency meetings to discuss whether to take the initiative to default, give up deposit profits and pay a small amount of liquidated damages to withdraw their deposits.

Of course, there are also those who immediately withdraw money from the Bank of Illinois in mainland China without any negotiation.

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

A short-term deposit of $140 million at the Continental Illinois Bank of the Austrian Central Bank also applied for a withdrawal.

Several other banks controlled by the Rothier family also applied for the withdrawal of their deposits as soon as possible.

All in all, that's a whopping $490 million!

The news from abroad quickly returned to the United States. When Chairman and President James McCormick was terrified and was about to convene a meeting of executives, many European banks refused to roll over funds, and the matter of up to $490 million followed closely. occurred later.

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

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

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

In the conference room, the atmosphere was extremely depressing. Everyone sitting looked solemn. No one took the initiative to speak. All of them looked down at the materials handed out.

When the last person comes in.

"Bump!"

James McCormick, with no regard for his image, patted the table and drew everyone's attention to himself.

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

"Everyone has read the information. Our bank has encountered a huge crisis. This is the conspiracy of the enemy, 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 rollover of funds and voluntarily defaulted on the agreement to apply for withdrawal, all have a common controller behind the scenes - the Rothschild family!"

"And right now, the Canadian branch of the Rothschild family is currently fighting us fiercely in the Canadian financial markets."

"The reason is clear, because Canadian currency bulls are running out of steam."

"Their purpose is also very clear, trying to use this method to break our capital chain and force us to withdraw funds voluntarily!"

"Although the crisis has just happened, the enemy's attack is very fierce. According to incomplete statistics, there are currently 67 media outlets around the world known to spread rumors about our bank!"

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

"What can you do?"

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

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

"The Rothschild family's business in our bank is only 490 million US dollars, and their behavior is to set the fire. As long as we hold up the first wave of the Rothschild family's offensive, then with the amount of funds in our bank, we can do it without Withdraw funds from the Canadian foreign exchange market.”

A vice president named Barton Armstrong immediately expressed his opinion.

"I agree with Vice President Armstrong's opinion that the crisis has just arrived, we can't panic, for the time being, it is not enough to withdraw the funds from the Canadian foreign exchange market. At present, the exchange rate of the Canadian dollar against the US dollar has only dropped to about 0.7868 points, and there is still a big change in the short term. Downside, that's a huge profit."

"If we take the initiative to withdraw the funds, then the purpose of the Rothschild family will be achieved, and our funds are too large, and the delivery price will be at a loss if the delivery is urgent."

"And our behavior of withdrawing 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."

Jonas Clark, another vice president, said clearly.

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

"A temporary commitment to increase interest rates if necessary."

An executive said immediately.

But another executive immediately retorted: "It's not advisable to increase interest rates, it will only make big customers think that our funds are really problematic, so they will take this special behavior."

Another executive offered key advice: "I suggest immediately applying to the regulator for help, requesting a public statement from the Office of the Comptroller of the Currency, and asking the government to endorse our bank!"

"If our bank really goes wrong and fails, it will definitely be enough to cause financial risks in the entire United States. The government will never allow this to happen!"

"I agree!"

"I also agree, I suggest using my contacts to get the three major rating agencies, Standard & Poor's, Moody's and Fitch, to stand up for us and crush all rumors!"