The Kerryman Finn Group, LLC’s Post

I look forward to presenting new work with Viral Acharya (NYU Stern School of Business) and Manasa Gopal (Georgia Tech Scheller College of Business) today at the Tinbergen Institute. ❓ 𝐅𝐫𝐚𝐠𝐢𝐥𝐞 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐧𝐠? 𝐇𝐨𝐰 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐞 𝐑𝐞𝐥𝐢𝐚𝐧𝐜𝐞 𝐨𝐧 𝐒𝐡𝐚𝐝𝐨𝐰 𝐁𝐚𝐧𝐤𝐢𝐧𝐠 𝐀𝐟𝐟𝐞𝐜𝐭𝐬 𝐁𝐚𝐧𝐤 𝐏𝐫𝐨𝐯𝐢𝐬𝐢𝐨𝐧 𝐨𝐟 𝐋𝐢𝐪𝐮𝐢𝐝𝐢𝐭𝐲 ➡️ How and why firms that rely on non-bank funding have less access to bank liquidity! ➡️ This is a problem when firms face roll-over risk during periods of stress!!! #NonBanks #Banks #Liquidity #RolloverRisk #CreditLines #Cash Frankfurt School of Finance & Management https://lnkd.in/gg7-Fmew

There's more pain ahead for the small and mid-size banking sector stressed by distress in their office loan portfolios. But, it's not the first time the world has seen this movie. The 2008 global financial crisis greatly sped up the growth of private credit, but where is the disruption of bank lending headed next? Our experts share their views on the rapid evolution of the private debt market and look to the future. Read more at https://bit.ly/3MLpFKv #Alternatives #PrivateCredit #FixedIncome #Disruption #TheRedThread #ShareUBS

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In Finopotamus' latest article, Roy Urrico speaks with Steve Reider about Bancography's 2024 Outlook, including the importance of growing deposits and retaining branches.   “You ask a senior exec what keeps them up at night, and they'd give you a roster of half a dozen different topics,” said Reider. “But, on the delivery side, particularly for a smaller institution, it becomes challenging because for the community bank or for the local community credit union, the branch is a differentiator."   🔗 Read the full interview here: https://lnkd.in/dpYfpnuc     #2024Outlook #creditunions #fintech #deposits #branches

#HoldingTheBag II: not so strategic ‘risk transfers’ Banks Transfer Risk to Themselves - Bloomberg https://lnkd.in/d_xEE6n9 When JPMorgan Chase & Co. arranged a series of trades to shift the risk of losses from $20 billion of its loans, some of those dangers wound up at a familiar place: rival banks. The deal, struck late last year, was one of the biggest ever Synthetic Risk Transfer trades, or SRTs, opaque transactions heralded by Wall Street and approved by regulators that are supposed to hand possible loan losses to hedge funds and other nonbank investors. Yet some buyers in the JPMorgan deal — and in multiple other SRT trades — borrowed money from other banks to help finance their stakes and inflate returns, people familiar with the matter say. Nomura Holdings Inc., Morgan Stanley and NatWest Group Plc, have emerged as some of the most active lenders to investors in SRTs, along with rivals including Banco Santander SA and Standard Chartered Plc. That leaves them well-placed to profit from an expected surge in the deals — but exposed to potential losses if debts end up going bad and the SRT investor hits trouble. The lurking presence of Wall Street loans behind some of these complex trades suggests exposures that were meant to be shifted elsewhere remain tied to the banking system, an outcome that’s starting to spook regulators. “If a bank’s lending against the SRT instrument as collateral, you’re clearly not transferring the risk outside the banking system,” says Sheila Bair, who led the Federal Deposit Insurance Corp. during the financial crisis. “Any counterparty investing in SRT using bank-provided leverage should be prohibited, full stop.”

https://lnkd.in/gAP4SzPi "Move Over, Banks. Alternative Asset Giants Plunge Into Private Credit. Lending from asset managers has quadrupled over the past decade to nearly $2 trillion in asset” “Private credit’s growth spurt began after the 2008 financial crisis. As regulators tightened capital requirements for depositor-funded institutions, the banks pulled back from riskier loans.” “Private-credit managers say they are smart lenders. But a big reason their losses are low is because most of their investors are locked up for as long as 10 years. Unlike commercial banks, they need not fear a run on the bank by spooked depositors. That gives private lenders time to work through problem loans.” loans.” @barronsonline #privatecredit #investing

Dive into the intricacies of private credit with our latest blog post, "The Delicate Balance of Pricing Liquidity in the World of Private Credit." Read the insights: https://lnkd.in/g85uUe5e Key Insights: Grasp the essence of liquidity and illiquidity in the fast-paced realm of finance. Delve into the complexities of private credit, where liquidity meets various asset classes, from loans to structured products. Understand the nuances of private credit liquidity, from syndicated loans to collateralized loan obligations (CLOs) and distressed debt. Join the discussion! How do you navigate the complexities of liquidity in private credit? Share your insights in the comments! #PrivateCredit #FinanceInsights #LiquidityManagement #martiniai

Private credit landscape shifting as Wall Street banks reclaim ground in financing deals. Lower loan pricing is drawing business back to traditional players. See our take on Private Credit: https://lnkd.in/er8iSv-x #PrivateCredit #RealGrowth #FinancialMarketing https://lnkd.in/eZaPfUmX

While the 2008 global financial crisis greatly sped up the growth of private credit, where is the disruption of bank lending headed next? Our experts share their views on the rapid evolution of the private debt market and look to the future. Read more at https://from.ubs/6049mqvMt #Alternatives #PrivateCredit #FixedIncome #Disruption #TheRedThread #ShareUBS