Fed Asymmetry Threatens Credit Crisis
The price volatility injected into markets by the Fed is a primary reason why the FDIC cannot easily find buyers for smaller banks.
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The Institutional Risk Analyst
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Banks | Markets | Fintech
Christopher Whalen
R. Christopher Whalen
- Apr 24
- 6 min
Commercial Real Estate & Bank OZK
Banks that do not aggressively reprice liabilities and assets as OZK did in Q1 2023 may be left behind.
1,144 views
R. Christopher Whalen
- Apr 19
- 7 min
The Bank Deposit Run Is Not Over
The funding crisis affecting US banks is not over and very definitely not limited to smaller banks.
4,515 views
R. Christopher Whalen
- Mar 26
- 10 min
Update: New York Community Bank
We liked the NYCB + Flagstar story prior to the transaction with the FDIC for the assets and deposits of Signature Bank.
1,116 views
R. Christopher Whalen
- Mar 11
- 6 min
Who Killed Silicon Valley Bank?; The IRA Bank Book Q1 2023
Last week not a single member of the Big Media managed to ask Fed Chairman Jerome Powell about the state of the US banking system
8,864 views
R. Christopher Whalen
- Feb 21
- 6 min
Is Stripe Worth $55 Billion? Really?
CEO Patrick Collison is guiding investors and the media to a $200 million profit in 2023. Selective disclosure??
547 views
R. Christopher Whalen
- Jan 30
- 7 min
Why the FT is Wrong About Ally Financial
Ally is still more finance company than bank and really has no core deposit base worthy of the name.
899 views
R. Christopher Whalen
- Jan 16
- 7 min
Goldman Drops Restatement; Jamie Dimon Drops the Ball on "Frank"
The Fed’s de facto embrace of inflation encourages misallocation of economic resources on a grand scale....
690 views
R. Christopher Whalen
- Jan 9
- 7 min
Crypto Collateral Damage Mounts
In other words, those residual claims on crypto issuers that have been trading at pennies on the dollar may have no value whatsoever.
682 views
R. Christopher Whalen
- Dec 20, 2022
- 5 min
Outliers: CapitalOne, Goldman Sachs & Citigroup
Like most nonbanks (and Goldman Sachs is predominantly a nonbank), volumes are falling and funding costs are rising.
555 views
R. Christopher Whalen
- Dec 12, 2022
- 4 min
Rising Interest Rates? Really?
Since 2008, dollar swap spreads have traded below Treasury yields, suggesting a persistent demand for dollars coming from offshore.
810 views
R. Christopher Whalen
- Dec 6, 2022
- 1 min
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
505 views
R. Christopher Whalen
- Dec 2, 2022
- 6 min
RMF Bankruptcy Signals Systemic Risk in GNMA Market
Bankruptcy of Reverse Mortgage Funding may be first step in a systemic crisis affecting the government loan market
1,019 views
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
7,492 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
353 views
R. Christopher Whalen
- Nov 17, 2022
- 7 min
Extension Risk Threatens US Banks
There are literally dozens of banks in the US made insolvent by the policy moves of the FOMC over the past year.
1,186 views
R. Christopher Whalen
- Oct 26, 2022
- 4 min
Update: Mr. Cooper (COOP)
Despite the outlook for the industry, COOP continues to be one of the better performing names in our mortgage surveillance group.
288 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?
781 views
R. Christopher Whalen
- Oct 6, 2022
- 6 min
Nonbank Lenders: The Dead Pool
With the Fed doubling down on rate increases, the pressure on all manner of nonbank finance companies and fintech platforms is growing.
626 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.
801 views
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