WGA Bank Top 100+ | Large Banks Retreat, Small Banks Rise
The big story nobody is discussing is the fact that large banks led by JPM, BAC and TFC continue to sell off briskly
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The Institutional Risk Analyst
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Banks | Markets | Finance
R. Christopher Whalen
- Sep 2
- 12 min
Recession? Consumer Lenders: AX, AXP, ALLY, Barclays, COF, SOFI, SYF
Axos continues to rebound after the bear raid by Hindenburg Research. AX ranked 18th in the WGA Bank Top Index in Q3 2024 vs 98th for SOFI
648 views
R. Christopher Whalen
- Jul 11
- 5 min
Earnings Setup: Consumer Lenders | ALLY AXP AX BCS COF SOFI SYF
The first comment to make is that consumer defaults are rising across the board. The only question we need to consider is the rate of change
533 views
R. Christopher Whalen
- Jul 7
- 10 min
Goldman Sachs Fails Fed Stress Test
Notice that the Fed stress test is silent on trillions of dollars in mark-to-market losses facing US banks from COVID-era securities
2,917 views
R. Christopher Whalen
- Apr 11
- 10 min
GSE Release? Really? Update: Ally Financial
You take the GSEs out of conservatorship, the big banks led by JPMorgan and U.S. Bancorp will own the conventional loan market
1,915 views
R. Christopher Whalen
- Jan 24
- 9 min
Interview: Bill Kennedy of RiskBridge Advisors
Volatility remains perhaps the biggest risk factor today, mostly because of a lack of visibility on unexpected risks.
786 views
R. Christopher Whalen
- Dec 8, 2023
- 4 min
Stocks, Interest Rates and Reverse RPs
Simply stated, with T-bills trading significantly above the yield on RRPs, there is no reason for MMFs to leave cash at the Fed
706 views
R. Christopher Whalen
- Jun 28, 2023
- 7 min
Profile: Comerica Inc.
If the FOMC raises the target rate for fed funds further, then banks like CMA are likely to come under renewed selling pressure.
1,457 views
R. Christopher Whalen
- Jun 9, 2023
- 6 min
Profile: Synchrony Financial
What can SYF tell us about the bleeding edge of unsecured consumer credit?
663 views
R. Christopher Whalen
- May 23, 2023
- 7 min
PacWest Bancorp & Fed Hawks
To survive long-term, both WAL and PACW need to get that beta back down below 2 and closer to 1, but the hawks on the FOMC may not cooperate
2,431 views
R. Christopher Whalen
- May 4, 2023
- 4 min
Banks, Interest Rates & Fed Chairs
Imagine how President Joe Biden will react if Chair Powell needs to announce formal limits on access to US bank deposits.
2,416 views
R. Christopher Whalen
- Jan 30, 2023
- 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.
982 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
1,094 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
358 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.
645 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.
808 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
353 views
R. Christopher Whalen
- Jul 13, 2022
- 4 min
Update: Ally Financial (ALLY)
The 5-year CDS spreads for ALLY were trading 280bp over the swaps curve compared with 120bp for Citigroup (C) & 150bp for CapitalOne
470 views
R. Christopher Whalen
- Sep 9, 2021
- 6 min
The IRA Top Ten Financials
Which US financial will best weather the coming equity market correction?
390 views
R. Christopher Whalen
- Jan 4, 2021
- 10 min
Profile: Bank of America
We think that a strong case can be made that to enhance shareholder value, Moynihan and the BAC board ought to spin-off Merrill Lynch...
500 views
Christopher Whalen
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