The Institutional Risk Analyst

Simply stated, US banks are twice as expensive as they were a year ago looking at earnings and assets....

The mere fact of vaccination, effective or no, is probably worth several points of GDP simply by improving the national mood.

We continue to believe that issuers and funds should be accumulating conventional servicing. Rates bottomed in February...

Given that IMBs now service two-thirds of all 1-4 family residential mortgage loans, the risk to the nonbanks from COVID is growing...

US banks are running at income levels that are less than half of a year ago...

“Time to turn on the lights and find the rest of the cockroaches”

We anticipate significant loan loss reserve releases back into income in Q1 2021 and thereafter as banks adjust their loan loss provisions

Think of the Federal Reserve Bank of New York as a giant sump pump, sucking the available duration out of the bond market...

This is a really bad time to be focused on macroeconomic data....

We have long advocated the idea of an independent mortgage bank (IMB) combining with a strong regional lender

In this issue of The Institutional Risk Analyst, we compare two major players in the residential mortgage servicing space, New...

Significantly, OZK predicts shrinking CRE loan volumes in 2021....

magine if the Fed started margin calling the big banks in response to the April market selloff rather than supporting the system!

Most of midtown Manhattan’s offices and other structures are unused. Commuter volumes are 10% of pre-COVID levels.

Unless the FOMC relents and eases up on its massive purchases of Treasury securities and MBS, bank earnings are likely to decline further

Whenever interest rates rise, the amen chorus on Wall Street starts to warble about the benefits to banks.

The evolution of fintech companies into regulated banks has implications for public market valuations...

The assumption of a stable financial and economic transition in the US during 2021 is perhaps the greatest risk facing the global markets.

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...

New issue volumes in all of the major securities asset classes other than Treasury debt are trending lower as 2021 begins....