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Risk Concealed: Private Credit, PIK and the Banks
If you figure that the seven year portion of the Treasury curve is around 4% today, a nearly 7% yield on EverBank's NDFI loan book seems pretty risky. But in fact the average yield on this loan category was over 10% for all 100 plus banks in Peer Group 1. So while EverBank certainly has a concentration in NDFI lending, it is not the highest yield. JPMorgan (JPM) was 5.9% in Q3, putting the House of Morgan in the 80th percentile of Peer Group 1.
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Mar 159 min read


Vanguard & Black Rock Control JP Morgan? | PNC & United Wholesale Mortgage
BK and Vanguard are above the 4.9% legal limit on ownership of voting shares of a bank. This fact gives the FDIC et al the power...
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Apr 4, 20247 min read


Winter is Coming in Bank Credit
If a bank has 6% debt to assets, what is the equity of the parent BHC worth?
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Sep 1, 20236 min read
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