The Institutional Risk Analyst

As of December 31, 2025, Athene had the ability to draw up to an estimated $30.7 billion via advances, inclusive of borrowings then outstanding. But when the funding agreements are added, the total exposure to the FHLBs from APO is over $50 billion vs $74 billion in total capital and retained earnings for the FHLB system.

“Moynihan is trying to demonstrate that the business can grow and hedge funds different investors in stock want price appreciation not just dividend. The decision to host the investor day was made long ago - JPM does it every year. Jamie Dimon has taken away the excuses of big banks that they can’t grow.”

Big banks have big CRE exposures, too. So what drives this marvelous progression up the wall of worry?