The Institutional Risk Analyst

Banks | Markets | Fintech

Silvergate, Reverse RPs and the “Theology of Prosperity”

Crypto, of course, is not an asset as much as a bad idea that was given life by Quantitative Easing

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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.

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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

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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

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Equity Market Valuations & Quantitative Tightening

The reduction in the Fed's balance sheet is the largest ever margin call on equity exposures of all descriptions.

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Update: Western Alliance Bancorp (WAL) and Silvergate Corp (SI)

There are virtually no conventional lenders in the US today that are profitable when the sell a loan into the secondary market.

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Profile: Silvergate Capital Corp (SI)

SI’s management team is taking advantage of the narrative in Washington, which is that stable coins will be a bank only product

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