Thank you Anne...you do a great job staying on top of this data

I'm glad to help howeer I can. I pretty much eat and breathe the markets , for better or for worse

Currently, I'm keeping an eye on that $2 trillion US dollar shortfall, which is what they admit to. Actual numbers are probably about 25-50% higher...but I'm a cynic. Just look at the way that JPM's "whale" exposure has exploded from $1BN to over $4BN as the truth slowly comes out, lol

The dollar shortage hits directly at smaller corporations in developed nations, and perhaps even emerging central banks.

This is on top of that $46 TRN corporate refinancing wall approaching...which S&P says will result in "challenging" credit markets

Economists use the words "challenging " and "difficult" the same way your dentist tells you it's not pain, it's "pressure", lol

Here is an interesting piece from today's FT, discussing the dollar shortage and the pressure on swap lines...

Note that he says that the US dollar shortage is WORSE than it was in 2008. That should raise a few red flags...just consider the myriad of implications in that one statement

He starts off by discussing that his father, a civil servant, advised bureaucrats to blame everything on "technical difficulties" (interesting, given the nature of this thread, and the "technical difficulties" occuring over in the Uk banking system)

Liquidity crisis brewing...

The article is worth reading, but, I've isolated just a few paragraphs...

A ‘squall in the fall’ over dollars for Europe
By John Dizard

June 24, 2012 5:11 am

...Also, it appears that the rest of the world is much shorter of dollars than it was even at the time of the 2008 crisis.

The world has run up even more dollar-denominated debt in recent years, as private America deleveraged. So foreign private accounts are enormously short of dollars; two weeks ago Morgan Stanley estimates the dollar gap at about $2tn.

Already, banks in peripheral Europe, which appears to start now at the Rhine, have had to cut down on voluntary dollar lending or new project finance that requires dollars. Spanish banks, for example, have tried to offset their dollar shortage by using their subsidiaries in the western hemisphere to channel funds home. That practice is up against the prudential, or regulatory, limits.

...Edwin Truman, a senior fellow at the Peterson Institute in Washington, a former Treasury official, and former director of the Division of International Finance of the Federal Reserve Board of Governors, says “I can’t imagine they [the Fed] will be lucky enough that the Europeans won’t want to continue [the swap lines], and that this will happen sometime before the end of the year. It will be a squall in the fall.”

Please read the rest at the FT site, always worth a morning read imo:
[link to www.ft.com]