The IRA Bank Book Q2 2021: Lower Earnings Ahead
If you back reserve releases out of Q1 2021 bank results, revenues and earnings were down and trend is headed lower due to QE
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The Institutional Risk Analyst
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Banks | Markets | Fintech
Christopher Whalen
R. Christopher Whalen
- Apr 22, 2021
- 6 min
Citigroup: Breaking Up is Hard to Do
Citi has drifted through years of government ownership and weak leadership by the board of directors
321 views
R. Christopher Whalen
- Apr 12, 2021
- 6 min
Forbearance, Shrinking NIM & Prepayments Menace US Financials
Simply stated, US banks are twice as expensive as they were a year ago looking at earnings and assets....
835 views
R. Christopher Whalen
- Apr 5, 2021
- 13 min
Update: Commercial, Residential Loans & MSRs
We continue to believe that issuers and funds should be accumulating conventional servicing. Rates bottomed in February...
412 views
R. Christopher Whalen
- Mar 25, 2021
- 7 min
Update: Q1 2021 Bank Earnings
US banks are running at income levels that are less than half of a year ago...
309 views
R. Christopher Whalen
- Mar 23, 2021
- 7 min
Interview: Joe Costello on the Risk to Democracy from Social Media
How do we prevent the Facebooks and Googles from dominating our political life? That is the question we must answer.
475 views
R. Christopher Whalen
- Feb 3, 2021
- 6 min
Profile: Bank OZK -- It's All About the NIM
Significantly, OZK predicts shrinking CRE loan volumes in 2021....
346 views
R. Christopher Whalen
- Jan 29, 2021
- 8 min
Update: Commercial & Residential Real Estate, MSRs
Most of midtown Manhattan’s offices and other structures are unused. Commuter volumes are 10% of pre-COVID levels.
718 views
R. Christopher Whalen
- Jan 17, 2021
- 5 min
Q4 Earnings Update: JPM, Citi & WFC
Unless the FOMC relents and eases up on its massive purchases of Treasury securities and MBS, bank earnings are likely to decline further
299 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...
464 views
R. Christopher Whalen
- Dec 28, 2020
- 8 min
Outlook 2021: Financials & Credit Markets
New issue volumes in all of the major securities asset classes other than Treasury debt are trending lower as 2021 begins....
764 views
R. Christopher Whalen
- Nov 27, 2020
- 4 min
The Myth of GSE Release
The prospective ejection of the GSEs, Fannie Mae and Freddie Mac, from government control seems finally to be dead for the next four years.
1,323 views
R. Christopher Whalen
- Nov 23, 2020
- 7 min
Nonbank Update: PennyMac Financial Services
There is no actual disclosure from PSFI as to exactly how much of the firm’s default advances are being financed with bondholder funds
527 views
R. Christopher Whalen
- Nov 2, 2020
- 9 min
Bank Profiles: Morgan Stanley vs Goldman Sachs
Not all AUM is created equal. Even though GS claims to have twice the AUM of MS, it makes less than half the revenue....
321 views
R. Christopher Whalen
- Oct 19, 2020
- 11 min
Bank Profile: Wells Fargo & Co
In this edition of The Institutional Risk Analyst, we assign a neutral risk rating to Wells Fargo & Co, the fourth largest US bank
310 views
R. Christopher Whalen
- Oct 12, 2020
- 7 min
Top Five US Banks: Q3 2020 Earnings Setup
There is a reason why the smart money on Wall Street is creating new strategies focused on non-performing loans...
707 views
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