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September 2023
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
August 2023
SVB and bank capital, revisited
Bank capital matters too much to be left to a ratio — Via FTAV
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Steven Kelly
July 2023
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
June 2023
Why Does Bank Accounting Seem So Backwards?
Fixing the accounting is futile; understanding the business is what matters
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Steven Kelly
May 2023
Stablecoins Deliver on Their Promise: Disrupting Banks
Like banks, but worse
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Steven Kelly
Have Banking Apps and Twitter Really Changed Bank Runs?
Some pushback on the increasingly popular narrative
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Steven Kelly
April 2023
What's So Special About the Fed's Bank Term Funding Program?
A new par for the course...at least in a different crisis
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Steven Kelly
2
Credit Suisse's AT1s & Bank Capital in a Crisis
The AT1 jig may be up
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Steven Kelly
1
March 2023
Misdiagnosing SVB
A run on banks, not a run on banking
 • 
Steven Kelly
7
© 2023 Steven Kelly
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