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UPDATE: New evidence on "Is the Fed Financing the FDIC?"
A new submission to the congressional record suggests more FDIC liquidity being sourced from the Fed
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Steven Kelly
Is the Fed Financing the FDIC?
Maybe casually
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Steven Kelly
SVB and bank capital, revisited
Bank capital matters too much to be left to a ratio — Via FTAV
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Steven Kelly
Where Was the Last Place You Saw the Deposits?
Some deposits got pulled, most just disappeared
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Steven Kelly
The Macro Story of SVB Isn't Just About the Fed
SVB: if not them, then who?
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Steven Kelly
Why Does Bank Accounting Seem So Backwards?
Fixing the accounting is futile; understanding the business is what matters
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Steven Kelly
Stablecoins Deliver on Their Promise: Disrupting Banks
Like banks, but worse
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Steven Kelly
Without Warning
Financial stability research notes, without introduction or specified cadence. Each one may be the last. Email for fund/bank advisory services. Associate Director of Research, Yale Program on Financial Stability. steven.kelly@yale.edu
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