Bank M2M Losses Surge in Q3 to $347 Billion
Rapidly rising interest rates in Q3 2022 pushed down the tangible capital for the US banking industry to negative $1.9 trillion
top of page
The Institutional Risk Analyst
© 2003-2023 | Whalen Global Advisors LLC All Rights Reserved in All Media | ISSN 2692-1812 | Terms & Conditions
Banks | Markets | Fintech
Christopher Whalen
R. Christopher Whalen
- Nov 28, 2022
- 6 min
Is JPMorgan Chase Insolvent?
The US banking industry has been rendered insolvent by the Federal Open Market Committee
7,175 views
R. Christopher Whalen
- Nov 25, 2022
- 9 min
Crypto Crash Signal End of Fintech?
Despite all the hyperbole, the great crypto fraud was a small game, like the party poker that many crypto enthusiasts share in common
349 views
R. Christopher Whalen
- Nov 15, 2022
- 6 min
Loan Delinquency, EBOs & Ginnie Mae MSRs
It seems obvious that the reported book value metrics coming from many commercial banks, REITs and mortgage banks are a tad inflated...
726 views
R. Christopher Whalen
- Nov 10, 2022
- 5 min
Update: Crypto Fraud Crumbles as Bank Stocks Surge
Crypto has gone from a sort-of juiced up equity strategy to a distressed credit story in just hours.
435 views
R. Christopher Whalen
- Nov 7, 2022
- 7 min
Brief: The Return of Home Equity Loans
Every residential mortgage loan made in 2020-2021 is likely to be underwater by the end of 2023
1,292 views
R. Christopher Whalen
- Nov 4, 2022
- 5 min
TIAA Sells Everbank; Mortgage Earnings Wrap
The big news this week starts with the poor showing by Rocket Companies (RKT), reporting a loss for Q3 2022 and a big decline in volumes.
283 views
R. Christopher Whalen
- Oct 28, 2022
- 7 min
Update: Credit Suisse (CS) & PennyMac Financial (PFSI)
Like COOP, volumes are down dramatically from 2021 but MSR values and cash flows from servicing are rising
889 views
R. Christopher Whalen
- Oct 17, 2022
- 7 min
Will the FOMC Break the Financials?
Will the market risk created by quantitative tightening (QT) tip over a large bank or nonbank financial firm?
775 views
R. Christopher Whalen
- Oct 12, 2022
- 7 min
Update: U.S. Bank vs. Bank OZK; Q3 2022 Earnings Setup
How will this above-peer performer from Little Rock do in a Fed-induced recession that rivals 2008 in terms of market losses?
598 views
R. Christopher Whalen
- Oct 2, 2022
- 10 min
Large Banks: QT Winners & Losers
A number of readers have asked us to talk about the winners and losers among large banks in the current interest rate environment.
784 views
R. Christopher Whalen
- Sep 14, 2022
- 2 min
IRA Bank Book Q3 2022
We expect to see reasonably strong earnings for commercial lenders in Q3 2022 as loan yields slowly rise...
277 views
R. Christopher Whalen
- Sep 8, 2022
- 5 min
Update: The Bull Case for US Financials
Investors who were buying large caps at 2x book value a year ago are now running away from bank stocks just as fundamentals improve...
502 views
R. Christopher Whalen
- Aug 21, 2022
- 7 min
Interest Rates, FinTechs & MSRs
Interest rates are starting to be very positive, and bank deposit rates are barely moving, so pretense of fintech as bank killer is over
518 views
R. Christopher Whalen
- Aug 15, 2022
- 9 min
Universal Banks | Morgan Stanley, Goldman Sachs, Charles Schwab, Raymond James & Stifel
Total noncore funding at GS was over $700 billion at the end of Q1 2022 vs $321 billion for MS.
432 views
R. Christopher Whalen
- Aug 7, 2022
- 7 min
Update: Guild Mortgage & Block Inc.
Since Block has not yet changed its ticker symbol, perhaps Mr. Dorsey will eventually change the company's name back to Square...
345 views
R. Christopher Whalen
- Jul 21, 2022
- 5 min
Should the FOMC Pause Rate Hikes After July?
The real message to the FOMC is this: hike another 75bp in July and then let the Fed funds target sit for a few meetings...
595 views
R. Christopher Whalen
- Jul 19, 2022
- 6 min
Interest Rates & Bank Earnings
The good news for BAC and other banks is that there is a discernable lift underway on the yield of bank balance sheets
347 views
R. Christopher Whalen
- Jul 7, 2022
- 5 min
Top Five US Banks by Market Performance
In times of market volatility and suddenly ended delusions of easy money, the prudent path is to fly to quality.
446 views
R. Christopher Whalen
- Jun 29, 2022
- 8 min
Bank Earnings Setup: JPM, USB, WFC, BAC & Citi
Most of the banks in our surveillance group are down between 10% and 30% so far this year, but none of these are particularly cheap as yet
444 views
bottom of page