HUD Secretary Fudge must either withdraw this proposal immediately or continue with a rule that destroys much of the government market
WISE is a play on the relentless advance of technology that lowers costs and eventually forces change in the legacy world of banking and pay
Cheap liquidity c/o the FOMC does little for bank earnings when asset returns are also falling
We anticipate a shift in deposits out of banks and into the Fed that could further complicate liquidity in Q3 2021.
When you hear people talking about the Fed tapering QE next year, you know they are behind the proverbial curve.
Once this release of reserves is finished, however, the run rate revenue and income for large banks is likely to decline.
The big banks in Boston, New York and London did not support “Lincoln’s War”
While the progress in machine learning is impressive, horsepower in terms of computational capacity does not translate into intelligence.
The BIS is essentially saying to the banking industry that bitcoin is not a permitted asset for depositories. Adios bitcoin!
Fed Chairman Jay Powell effectively is short an equity put option to the world…