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What podcasters are saying about Banks
Summary
In the past 30 days, 44 speakers on 27 finance podcasts discussed Banks in 77 views. Chorus has followed Banks since September 22, 2026: 80 views from 47 speakers on 27 shows.
Who talks about it most
- Chris Whalen · 10
- Tim Melvin · 5
- Thomas Hoenig · 4
- Jeff Snider · 4
- Patrick Harker · 3
- Steve Eisman · 3
- David Vélez · 3
- Nick Nemeth · 3
- Matt Reed · 2
- Louis-Vincent Gave · 2
The latest views
Newest first. Every quote is checked against the episode's transcript.
Chris Verrone · Baird Strategas
Bank leadership shifting from big banks to regionals and small banks; insurance breaking out after three years.
Verrone argues the leadership change within financials is important. Insurance has been dead money for three years but is now breaking out, with new-high data strongest there. Among banks, the strength has moved away from the big banks to regionals and small community banks. He cites Citigroup and BofA down over the past month, JPMorgan up 2%, and East West Bancorp turning up, and says this is a handoff from the last couple of years of leadership rather than a bearish signal.
“Even if you look at the banks, the leadership among the banks has evolved. It is not the big banks here. ...It's the regionals and the small community banks.”at 17:19
Jason Snipe · Odyssey Capital Advisors
Regional bank improvement is a positive signal for the real economy and the broader market.
Snipe says the regional banks represent the real economy. He wants to see alternative managers and investment banks participate meaningfully, but regional banks starting to improve, with better forward guidance, is a unique positive signal for the market. He ties this to Chris Verrone's point about leadership moving from big banks to regionals.
“But to see the regionals, which is the real economy, starting to improve here and have some better guidance going forward, I think that's a that's a unique positive for the market.”at 19:30
Luke Gromen · Forest for the Trees (FFTT)
Consumer loan losses would wipe out about 40% of bank equity per 5% default increase, forcing selling or issuance.
The Fed puts US banking-system equity capital at about $2.6 trillion, so a 5% default increase on consumer debt, about $1 trillion, equals roughly 40% of that capital base. To protect capital, banks would stop lending, sell Treasuries (adding supply alongside the Treasury and foreign sellers), or issue equity, which the market would dislike. Gromen notes bank stocks, Blackstone, Blue Owl, American Express and Capital One have badly underperformed the S&P over three to six months, and he asks why if AI works someone would want to own them.
“every 5% default rate increase on consumer debt as a result of AI unemployment or deflation in wages is equal to 40% of the total equity base of The United States banking system.”at 22:29
MacroVoices: MacroVoices #556 Luke Gromen: US Midterms & Beyond ·
Thomas Hoenig · Mercatus Center at George Mason University
Banks' unrealized securities losses are a major risk, hidden by accounting rules that let them avoid capital charges.
Large banks hold longer-term securities with sizable unrealized losses. Under the rules, they do not have to charge those losses against capital as long as earnings can cover them, and US government securities carry zero risk weight. This relies on the market looking through the losses. Silicon Valley Bank showed how quickly a public realization that losses overwhelm capital can trigger a liquidity crisis.
“Well, I think it is a major risk, obviously, and what you see is the accounting of it that is keeping that from the incoming more serious problem.”at 19:31
The David Lin Report: Fed's Next Mistake? Ex-Fed President Warns Of Market Fallout | Thomas Hoenig ·
Thomas Hoenig · Mercatus Center at George Mason University
Banks have indirect AI exposure through private credit lending and are growing more cautious.
There is more bank exposure to AI and the tech sector, some direct and more indirect, because banks lend to private credit entities that lend to tech. Banks are comfortable because they expect private credit will absorb losses with its own capital rather than go bankrupt. Hoenig expects banks to remain more cautious for the foreseeable future.
“there is more bank exposure, if not directly, and there's some directly, but also indirectly. Banks are lending to private credit, entities who are lending to the tech sector.”at 28:11
The David Lin Report: Fed's Next Mistake? Ex-Fed President Warns Of Market Fallout | Thomas Hoenig ·
Thomas Hoenig · Mercatus Center at George Mason University
Bank lending to AI, tech and onshoring projects is driving money supply growth despite higher rates.
The banking industry creates money through lending, and it has been increasing lending where opportunities arise in AI and technology. Government subsidies from 2025 to build factories and production capacity encourage banks to lend to these institutions. That credit and deposit growth lets money supply increase, so banking is growing even as the Fed's balance sheet is restrained.
“the Fed isn't the only one who creates money. The banking industry creates money. And what they've been doing is increasing their lending... as the opportunity presents itself with AI and other times of primarily technology.”at 31:15
The David Lin Report: Fed's Next Mistake? Ex-Fed President Warns Of Market Fallout | Thomas Hoenig ·
Thomas Hoenig · Mercatus Center at George Mason University
Recognizing securities losses in capital would slow lending, but regulators are unlikely to change the rule soon.
Requiring banks to recognize unrealized securities losses in capital would have to be phased in once the economy settles. It would slow some lending and push banks to fund operations with capital rather than borrowed funds or deposits, producing a stronger industry. But the government wants banks to keep buying its debt, which needs very low capital charges, so Hoenig doubts the rule will change soon.
“you could slowly change that rule... it would slow some forms of lending... I doubt I don't see that they would change that rule anytime soon, because the government itself can hardly afford to do that.”at 32:52
The David Lin Report: Fed's Next Mistake? Ex-Fed President Warns Of Market Fallout | Thomas Hoenig ·
Jeff Snider · Atlas Financial
European banks are turning defensive: tightening credit and buying sovereign bonds, reflecting a credit-cycle downturn.
The ECB's access-to-finance survey shows a net 46% of firms reporting higher bank interest rates, but loan availability deteriorated faster than demand: a net 5% of firms reported reduced access to bank loans versus 1% the prior quarter, while only a net 2% reported lower financing needs. This widens a financing gap in the real economy, affecting both small and large firms. The ECB's bank lending survey shows banks tightening credit and citing worsening risk perceptions and lower risk tolerance, not just the policy rate. Meanwhile, euro-area banks bought nearly €30 billion of government bonds in September after July and August sales, and the buying likely understated because bond prices fell. Snider reads this as banks preferring liquid, collateral-eligible sovereign debt over private loans with credit risk, which is balance-sheet protection rather than deflationary behavior. He frames it as the same environment causing borrowers and lenders to reinforce each other's pullback, a credit cycle downturn that is also visible in the US and China. The French banks BNP, Societe Generale and Credit Agricole hold about $60 billion of French sovereign debt, and he argues they face scrutiny for this exposure.
“Europe's banks are seeing the opposite. They're tightening lending standards. They're reducing loan availability. They're reporting weaker demand and buying more sovereign debt. It's not deflationary behavior. It's balance sheet protection.”at 11:35
Eurodollar University: European Banks Just Did What They Do Before Every Crisis... ·
Danny Moses · Moses Ventures
Bank credit risk is not systemic, but fee income could be, and tough 2027 comps loom.
Danny says banks have shifted from being valued on book value to being valued on earnings per share, which requires growth. That makes them face tough comparisons in 2027, especially if there is any slowdown. He sees pockets of credit stress here and there but nothing systemic. He notes banks can change risk weights on categories such as software if credit underperforms, creating a chain reaction. He thinks fee revenue could be systemically affected, but credit risk is not.
“I think fees could be systemic, but credit is not systemic is the way I would kinda put it.”at 18:10
On The Tape with Danny Moses: Lessons From The Great Financial Crisis | "Clear Takes" with Vincent Daniel and Danny Moses ·
Tim Melvin · Community Bank Investor
Community bank credit is far better than the headlines suggest, with high capital and good loan quality.
Melvin says bank headlines have been awful since 2023, but earnings keep showing credit is much better than people give banks credit for. Community banks don't do subprime or near-prime lending, so capital levels are high and loan quality is pretty good. He sees a couple of small cracks, confined to older commercial real estate, but nothing he would lose sleep over.
“Credit's way better than anybody's giving these guys credit for.”at 1:53
The Acquirers Podcast: Tim Melvin: Finding Value Where Wall Street Isn’t Looking ·
Tim Melvin · Community Bank Investor
US community banks will consolidate from about 4,400 down to a thousand or fewer.
There are about 4,400 community banks left, down from 18,000 when consolidation started. Melvin expects the count to fall to a thousand or under and says it is going to happen, which is why he focuses on the smaller banks and ignores the giants.
“There's about 4,400 of them left, down from 18,000 when consolidation started, and we're going to a thousand or under, Toby.”at 4:07
The Acquirers Podcast: Tim Melvin: Finding Value Where Wall Street Isn’t Looking ·
Tim Melvin · Community Bank Investor
Community bank stocks have risen sharply, making cheap banks hard to find at his price targets.
Melvin's nano-cap bank list is up about 30% on the year. He wants to buy banks at about 80% of tangible book value with negligible loan losses and lots of capital, but he cannot get that price widely because banks have moved up so much over the past couple of years. He is waiting for an industry or administration mistake to push prices down again and has learned to be patient.
“When we look at the industry as a whole, my only complaint is it's getting tougher to find cheap banks.”at 4:32
The Acquirers Podcast: Tim Melvin: Finding Value Where Wall Street Isn’t Looking ·
Tim Melvin · Community Bank Investor
Small banks can hedge an inverted yield curve by parking deposits in securities, which big banks cannot.
When deposits cost more than the loans a bank is making, a bank has a problem. Melvin says most banks hedge this by stopping new loans and parking money in securities. Smaller banks can do that easily, a big advantage over giants such as JPMorgan, which has nowhere near enough securities to absorb its deposits.
“A lot of them will just stop making the loans and park the money in securities as well. And that's one of the big advantages of being a smaller bank, and you can do that.”at 6:31
The Acquirers Podcast: Tim Melvin: Finding Value Where Wall Street Isn’t Looking ·
Tim Melvin · Community Bank Investor
The 2023 bank failures were four isolated mismanagement cases, not a credit crisis; he'd buy the dip again.
SVB and similar banks took huge uninsured deposits from venture-backed companies, around 90% of deposits, and bought long-duration, low-yielding mortgage securities and treasuries after the Fed signalled rates would stay low. When rates rose they could not sell without huge losses, and the run came fast. Melvin argues it was not a broad credit event: loans were not going bad across the country as in 2008-09, and calls to community bankers found no panic. He wishes it would happen again because it was a tremendous buying opportunity.
“until you looked at what was actually happening, it wasn't a credit deal. It wasn't that, you know, loans were going bad all over the country like we saw in 2008, 2009. It was four isolated incidents tied to a specific corner of the industry”at 10:12
The Acquirers Podcast: Tim Melvin: Finding Value Where Wall Street Isn’t Looking ·
Jeremy Zirin · UBS Asset Management
Rising rates with a healthy economy favor banks; loan growth, credit trends and pipelines look solid.
Zirin argues that rising rates alongside a healthy economy are generally a winning formula for banks and capital-markets-sensitive stocks. Early Q3 earnings-season results support this: core financial sector fundamentals look solid, loan growth remains strong, credit trends are positive, and banking pipelines remain robust. He therefore highlights financials as one of the areas with attractive fundamentals.
“Rising rates in concert with a healthy economy is generally a winning formula for banks and capital market sensitive stocks. And from what we've heard during earnings season so far, core financial sector fundamentals look solid, loan growth remain strong, credit trends are positive, and banking pipelines remain robust.”at 16:10
UBS On-Air: House Call: Talking Equity Markets with UBS Asset Management ·
Brian Gardner · Stifel Financial
Warren at Senate Banking would mean contentious hearings, but regulators will not change course because of Congress.
If Democrats win the Senate and Elizabeth Warren takes over Banking, the industry will not like it and hearings will be very contentious, with bank CEOs at the witness table. Gardner expects letters to regulators, but the Comptroller, the FDIC chair and the Fed vice chair for supervision will take them under consideration and move on. Administrations do not care what Congress says unless Congress can act to block the regulators, and Democrats would not have that leverage even in a sweep.
“there'll be a lot of angry letters and the Comptroller and the FDIC chair and the vice chair of supervision for the Fed will say thank you very much. We'll take your letter under consideration. And they will go on their way.”at 18:18
Bloomberg Surveillance: Bloomberg Surveillance TV: October 28th, 2026 ·
Ethan Mollick · Wharton School, University of Pennsylvania
AI agents could undermine banks, which depend on customers' inertia in low-yield deposit accounts.
Mollick agrees with an ApolloResearch point that AI agents threaten the banking system. Many people keep small sums in low-interest accounts because moving money is too hard. Personal agents could move the money into high-yield savings automatically, which would cut the deposit inertia the economy relies on. He says companies are not ready for this. Kantrowitz adds that large companies move cash between accounts for yield, but consumers don't.
“one of the most interesting was the threat to the banking system. ApolloResearch pointed this out. Yes. This is true. ... the economy basically depends on us being lazy with small amounts of money that we keep in low interest bearing accounts”at 1:04:57
Big Technology Podcast: This AI Expert Argues We're Underestimating AI's Productivity Impact — With Ethan Mollick ·
Ariana Salvatore · Morgan Stanley
Proposed financial rules will likely be finalized before year-end, so deregulation continues regardless of midterms.
Salvatore says many proposed financial rules will be finalized before the end of this year, possibly even before the midterms. Deregulation is controlled by the executive branch through presidentially appointed agency heads. A Congress flip could add hearings and oversight, but she expects the overall deregulatory agenda to stay intact.
“particularly [the outlook] for financials is really interesting because a lot of the rules that have been proposed are really, in our view, going to be finalized really before the end of this year, even before the midterms in some cases.”at 41:40
CNBC Closing Bell: Markets Brace for the Fed as Earnings Roll In 10/27/26 ·
Matt Reed · Fidelity Investments
Q3 bank earnings were solid: loan growth, activity and credit performance held up, with good returns on capital.
Matt has spent weeks reading bank reports and listening to management, and the bottom-up picture matches the macro picture Jake described. Loan growth has been good, activity has stayed strong, and credit is performing well so far. The group has been earning good returns on capital in this higher-rate environment.
“Loan growth has been good. Activity stayed strong. Credit continues to perform well so far.”at 5:35
Fidelity Viewpoints: 10.27.26 - Why a recession may be farther away than you think ·
Matt Reed · Fidelity Investments
For financials, the reason rates move matters more than their level, outside of extremes.
Outside of extreme levels, the level and pace of rates matter less for financials than what they signal about the economy. Financials are levered to the economy, so the key question is what rate moves imply about future growth expectations. Some companies do better or worse with specific rate moves, but that misses the larger effect of the economic signal.
“So the unfortunate answer is, like, outside of extremes, the level and pace are a little bit less relevant to what it tells us.”at 6:12
Fidelity Viewpoints: 10.27.26 - Why a recession may be farther away than you think ·
Rupert Harrison · PIMCO
A well-trailed UK bank tax is already priced into bank shares, and its cost will pass to customers.
The bank tax is a well-trailed measure that Harrison thinks is now largely priced into bank shares. Expectations are that hiking the rates back up raises about £2-3bn. That is the largest revenue item, outweighing the small capital gains and entrepreneurs-relief changes he expects. The tax is not costless: he expects it to pass through to deposit rates and mortgage rates.
“a pretty well trailed tax on the banks, that is now pretty much in the price, I think, for certainly bank shares ... That will get passed through, in terms of, you know, deposit rates and mortgage rates.”at 6:42
Bloomberg Talks: PIMCO UK Senior Advisor Rupert Harrison Talks Budget ·
Patrick Harker · The Wharton School, University of Pennsylvania
Community banks can thrive, not just survive, by deeply understanding a niche customer base.
Many people argue that community banks cannot compete because technology rewards scale. Harker's counterexample is a small Pennsylvania bank, transcribed as the Bank of Burdenham, which he says is the first de novo bank since the financial crisis. It serves the Amish community heavily. The bank worked with regulators, including the FDIC, to take an alternative approach to identity. It accepted genealogical records and attestation in place of IDs and credit scores. It runs mobile branches that the FDIC treats as branches. The community insures barns and rebuilds them after fires. The bank has had very few write-offs. Harker also cites a Wyoming bank that serves ranchers. He concludes that deep customer knowledge is the alternative to scale.
“But if you really understand your customer, I mean, really deeply understand your customer, you cannot just survive, but you can thrive.”at 14:42
Macro Musings: Patrick Harker on Real-Time Payments and the Future of the Federal Reserve ·
Patrick Harker · The Wharton School, University of Pennsylvania
US countercyclical capital buffer should be raised from zero; release it for all banks at once.
The US countercyclical capital buffer has been zero since its inception, while the UK runs a 2% buffer. Harker says raising it does not force banks to hold more capital, because regulators can lower other capital requirements to offset it. He argues a buffer built up in good times and released for everyone at once carries no stigma, and it keeps the system away from the edge of a crisis, where the Fed otherwise has to reach for QE. He admits there is some friction and that banks pushed back when he argued for raising it in Fed debates.
“In The UK, it's 2% capital. Now people are saying that's forcing banks to hold more capital. No. No. You just... You lower the other capital requirements.”at 44:01
Macro Musings: Patrick Harker on Real-Time Payments and the Future of the Federal Reserve ·
Patrick Harker · The Wharton School, University of Pennsylvania
Discount window use gets publicly disclosed and read as trouble, so stigma limits its usefulness.
Harker responds to proposals to make the discount window more accessible, such as counting discount window collateral toward liquidity coverage ratios or reviving term auction facilities. He argues that the core problem is stigma: a bank's discount window borrowing is publicly disclosed, and the market reads it as a sign the bank is in trouble. He contrasts this with the Bank Term Funding Program, which everyone used without stigma because all banks took it. The stigma is hard to engineer around, so he points to a countercyclical buffer released for everyone at once as a better approach.
“This gets publicly disclosed that you went to the discount window, which the market's gonna read as that bank's in trouble.”at 46:31
Macro Musings: Patrick Harker on Real-Time Payments and the Future of the Federal Reserve ·
Jeff Snider · Atlas Financial
Investors are demanding more for bank AT1 and contingent capital, though a banking crisis is not imminent.
Snider cites the average spread on global contingent convertible bonds (COCOs), which rose to about 253bp after falling below 200bp in August and September. A Bank of New York Mellon preferred priced 32.4bp wider than a near-identical structure sold three months earlier. A new AT1 from Belfius was indicated below face value almost immediately, and BancoBPM's AT1 order book shrank during sales. Investors now demand more compensation for loss-absorbing bank capital that can skip payments or go unpaid. He says this does not signal a banking crisis, only that the margin for complacency is narrowing.
“The average spread in Bloomberg's multicurrency index of global contingent convertible bonds or COCOs has risen to approximately two fifty three basis points...”at 15:56
Eurodollar University: The Credit Cycle Just Flipped (The Stock Market Is Next) ·
Chris Whalen · Whalen Global Advisors LLC
He is very cautious on all financials because their results depend on interest rates and credit problems are building.
Whalen calls financials basically an interest rate play, and he expects credit to become a bigger problem. He says years of rate policy have subsidized housing and credit, so portfolio problems are now coming to the surface, and he expects higher foreclosure activity next year. Against that backdrop, he says he is very cautious on all of the financials right now. Julia notes he has gotten out of banks, but he does not confirm a current short position.
“So I am very cautious on all of the financials right now.”at 26:06
The Julia La Roche Show: #424 Chris Whalen: Fannie & Freddie Stuck, Foreclosures Rising, Credit Problems Coming ·
Mark Rzepczynski · AMPHI Research and Trading
Shortage of bank intermediation capital raises crisis and market dislocation risk.
Primary dealers, who are banks, warehouse risk between buyers and sellers. If they are capital constrained, through repo market problems or balance-sheet restrictions on risky assets, they cannot hold positions. Sellers then have to find buyers extremely quickly and in a disorderly way, which makes dislocations more likely. Mark says commodity firms act as dealers too, so the same dynamic can occur there, and in uncertain, illiquid markets participants scale in and out of positions in ways that can produce trends.
“if there's a shortage of... intermediation capital... Then we're gonna be more susceptible to a crisis.”at 22:50
Top Traders Unplugged: SI423: Why Trend Following Might Outlast the AI Arms Race ft. Mark Rzepczynski ·
Nikesh Arora · Palo Alto Networks
Banks will likely block consumer AI agents from logging in, because liability and dispute costs are too high.
Arora says agents act with a user's credentials from inside the browser, so banks cannot tell agent traffic from the user's. CAPTCHA can now be solved with AI. The bigger problem is liability: agents accumulate many credentials, and it is unclear who owns the liability. Banks already absorb small disputed charges because support calls cost more than the disputes. He expects banks to respond by declaring they will not allow interaction with agents at all, and says the cost of tons of agent-driven explainability calls will be huge.
“The biggest problem we're gonna have is who owns the liability and who has accountability, whether it's enterprise agents or consumer agents. So I think you see banks saying, do not... I do not allow you to interact with me with your agent, period.”at 23:11
All-In Podcast: AI Cyber Panic, Ken Griffin's Bubble Warning, The Fall of France? ·
Tom Lee · Fundstrat Global Advisors
Financials have lagged even as rates fall, creating a lot of opportunity.
Tom notes financials have not been rallying even though rates are coming down. He concludes there is a lot of opportunity there. The support is brief, so this is a thin view.
“And as you know, financials haven't been rallying, but rates are coming down. So I think there's a lot of opportunity.”at 38:34
Louis-Vincent Gave · Gavekal
A French default would blow up the European insurance industry and probably global insurers holding French debt.
A large share of French debt is held by European pension funds and European insurance companies. Japanese and US insurers also own it. If France defaulted or restructured, the first casualty would be the European insurance industry and likely the global one, since losses would spread across the holders.
“if France goes down this path, the first thing you do is, essentially, you blow up the European insurance industry and probably the global because Japanese insurance companies, US insurance companies, a lot of people own French debt.”at 1:02:57
MacroVoices: MacroVoices #554 Dr. Anas Alhajji + Louis-Vincent Gave: Developing Crises in Middle-East and France ·
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