The banks that failed in the spring of 2023 were outliers that violated some of the golden rules of banking, but many investors continue to unfairly paint the bank group with a broad brush, according to KBW CEO Tom Michaud. In the episode, Michaud discussed the drivers of the large bank failures in 2023 and the idiosyncrasies of those institutions. He further discussed the regulatory response to the liquidity crunch and criticized the Basel III endgame proposal while advocating for deposit insurance reform. The executive also noted that investors continue to treat all banks the same and express concern over their commercial real estate exposures but noted that most of the industry faces an earnings issue rather than a threat to safety and soundness.
Ep 7 - How exposed are banks to the retail sector
Ep 6 - Scale still matters for small banks, de novos
Ep 5 - What blockchain means for banks
Ep 4 - Dishing on CCAR with RBC's Cassidy
Ep 3 - What's next for bank M&A
Ep 2 - Weighing chances of bank regulatory reform
Ep 1 - What's ahead for bank stocks
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