The hottest Banking Substack posts right now

And their main takeaways
Category
Top Finance Topics

Economics Links, 6/2/2025

In My Tribe • 212 implied HN points • 02 Jun 25
💰 Finance Banking
  1. Closing the FCC could be beneficial, as it often invents new reasons to exist. Some of its functions could be better managed by other government departments.
  2. Trump's idea to make Freddie Mac and Fannie Mae public while keeping government guarantees could lead to problems. This could mean private companies profit while taxpayers take on the risks.
  3. There's some hope in the economy as service costs are stabilizing, suggesting capitalism might be doing better than thought. This could mean a brighter future for the middle class.

Daily Chartbook #276

Daily Chartbook • 1729 implied HN points • 09 Sep 23
💰 Finance Banking
  1. Global food prices fell 2.1% in August to the lowest in over 2 years.
  2. US imported more from Mexico than China for the first time since '03, affecting the economy.
  3. Used vehicle prices were up 0.2% MoM in August, but down 7.7% YoY.

Problems at Sezzle (SEZL)

The Bear Cave • 443 implied HN points • 02 Jan 25
💰 Finance Banking
  1. Sezzle is a payment platform that allows customers to buy now and pay later, but there are concerns about its roles in facilitating fraud and illegal businesses.
  2. Some online pharmacies using Sezzle have been found to sell unapproved or counterfeit drugs, leading to consumer complaints about quality and delivery issues.
  3. Regulatory actions against companies like Google and past illegal activities show the serious risks and penalties involved in dealing with rogue online pharmacies.

Are things are looking up? Has The System stabilised?

System Change • 314 implied HN points • 18 Apr 23
💰 Finance Banking
  1. The economy seems to be looking up with CFO sentiment rising sharply in the UK.
  2. Global financial stability is still a concern with reports of low capital reserves in major US banks.
  3. High levels of corporate debt, like the case of Asda, pose risks to the financial system especially with potential rate hikes.
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Daily Chartbook #291

Daily Chartbook • 1598 implied HN points • 30 Sep 23
💰 Finance Banking
  1. The international trade deficit decreased in August.
  2. US retail and wholesale inventories have shown growth.
  3. The drop in GDI relative to GDP suggests a potential recession by mid-2024.

What is worth holding on to?

Fund Marketer • 3 implied HN points • 26 Feb 26
💰 Finance Banking
  1. Active asset managers are under heavy pressure from passive funds and ETFs, which is driving consolidation and buyouts. Cherry-picking a few old-economy winners doesn’t change the broader trend of active underperformance.
  2. Financial firms are repurposing legacy assets and structures—like art-backed lending and debt-for-nature swaps—to create new revenue streams and support future needs. These moves won’t solve big problems alone, but they are pragmatic ways to finance innovation and conservation.
  3. A long-running project about a Sputnik-era plan to teach advanced mathematics has been completed and will be released next summer. Finishing and sharing such work shows how historical ideas can be reexamined and made relevant today.

Top Links 573 US bank failures. Gas-powered trucks. The Suriname debt crisis & the underground struggle in Colombia.

Chartbook • 500 implied HN points • 27 Nov 24
💰 Finance Banking
  1. There have been 573 bank failures in the US, which is a significant number. This may affect the economy and people's trust in banking.
  2. Gas-powered trucks are still widely used, indicating ongoing reliance on fossil fuels. This might have implications for environmental discussions and policies.
  3. The Suriname debt crisis and struggles in Colombia show that economic challenges are not only local but also global. These situations need attention and understanding from a broader perspective.

The Future Monetary System (From: Regulators)

DeFi Education • 439 implied HN points • 30 Jun 23
💰 Finance Banking
  1. The Federal Reserve's new service called FedNow will start on July 1st. It will allow people to send and receive money instantly, anytime, day or night.
  2. This real-time payment system is much faster than traditional banking, which can take days for transactions to clear.
  3. With FedNow, transferring money will take only seconds, making it easier for everyone to manage their finances.

SVB's Demise: The Hidden Cost of Overcharging in the Competitive Banking Landscape

Five Links (and three graphs) by Auren Hoffman • 1638 implied HN points • 17 Aug 23
💼 Business Banking
  1. Silicon Valley Bank collapsed due to overcharging customers, not a classic bank run scenario.
  2. SVB's business model relied on overcharging depositors, which led to customers seeking better deals elsewhere.
  3. In competitive industries like banking, overcharging customers is a risky game that can lead to loss of business and eventual downfall.

The Continental Bait-and-Switch

QTR’s Fringe Finance • 23 implied HN points • 26 Dec 25
💰 Finance Banking
  1. Continentals were accepted at first because people believed they could be redeemed for gold or silver, so the paper acted like a claim to real money.
  2. But leaders kept printing Continentals, broke the redemption promise, and used price controls and legal tender laws to force acceptance, which caused severe inflation and effectively cheated people in a bait-and-switch.
  3. This episode shows paper money’s value often rests on expectations of specie redemption, not just on taxes or legal coercion, so a government declaration alone may not create lasting monetary value.

The lies we tell ourselves

Known Unknowns • 275 implied HN points • 03 Apr 23
💰 Finance Banking
  1. Interest rates may not return to normal, so be cautious. Collective DC plans might not be as ideal as they seem.
  2. Don't expect a recession to automatically solve inflation issues; it may not work as expected.
  3. Inflation brings uncertainty, making high real yields essential, and planning for Social Security reforms could involve risky collective DC plans.

The LIBOR scandal, part 1: background

The Jolly Contrarian • 79 implied HN points • 08 Apr 24
💰 Finance Banking
  1. Banks have structural interest rate risk, which they manage by borrowing at a low rate and lending at a high one.
  2. The LIBOR rate was created as a benchmark for banks to set their interest rates and trade standardized instruments.
  3. Interest rate swaps changed the game by allowing banks to trade interest rates with counterparties, impacting how they managed their structural interest rate risk.

Daily Chartbook #260

Daily Chartbook • 1493 implied HN points • 17 Aug 23
💰 Finance Banking
  1. Mortgage purchase applications decrease, showing minimal demand
  2. Housing starts rise, with single-family starts at a high and multi-family starts at a low
  3. Building permits increase slightly, with single-family permits at a high and multi-family permits at a low

Daily Chartbook #248

Daily Chartbook • 1493 implied HN points • 01 Aug 23
💰 Finance Banking
  1. Zillow expects U.S. home prices to rise 6.3% between June 2023 and June 2024.
  2. Zillow's rent index indicates a sharp decline in rent prices ahead.
  3. Resuming student loan payments in October will decrease consumer spending by about $9 billion per month.

Did the debt ceiling deal really save the US from bankruptcy?

Geopolitical Economy Report • 259 implied HN points • 25 Jun 23
💰 Finance Banking
  1. The US's debt situation is a small part of the global debt puzzle, with rising interest rates creating challenges not only for the US but also for poorer countries dependent on dollar debt.
  2. The debt deal exacerbates the unproductive nature of debt as it has been used to replace income for individuals and constrain companies from expansion and investment in productive capacity.
  3. The financial system will face challenges including declining value of US treasuries impacting banking system resilience, inflation persisting, and US dollar losing hegemony due to rising debt and market liquidity issues.

Links - 03/26/2023

Value Investing World • 255 implied HN points • 27 Mar 23
💰 Finance Banking
  1. Don't feel the need to immediately make back money lost, it's ok to take your time.
  2. Trying to recover losses the same way they were made can lead to more problems.
  3. Being overly cautious can sometimes lead to unexpected mistakes.

ONE YEAR (& SIXTEEN YEARS) AGO ON GRASPING REALITY: The Panic of 1825

Brad DeLong's Grasping Reality • 169 implied HN points • 29 May 25
💰 Finance Banking
  1. The 1825 Panic marked a key moment in the development of modern central banking. It showed how banks can turn to a central authority for help during financial crises.
  2. The Bank of England stepped in during the 1825 financial turmoil to prevent a collapse of the banking system. This was a major shift, highlighting the importance of central banks in managing economic stability.
  3. The actions taken during the panic helped restore confidence in the financial system. When people began to trust that banks were safe again, the economy slowly recovered.

U.S. Banking Fears, USDC post-mortem + March Q&A

DeFi Education • 539 implied HN points • 14 Mar 23
💰 Finance Banking
  1. There are concerns about the stability of U.S. banking, and this has created a sense of fear in the market. Many people are worried about what might happen next.
  2. The USDC cryptocurrency faced serious issues recently, raising questions about its reliability. Some are analyzing what went wrong and what it means for the future.
  3. In a time of crisis, quick actions and communication from venture capitalists helped to calm the situation. It shows how important leadership and support can be during financial troubles.

GENIUS Passed Into Law. Now What?

Fintech Business Weekly • 118 implied HN points • 20 Jul 25
💼 Business Banking
  1. The GENIUS Act is now law, creating specific rules for payment stablecoins and their issuers, which aren't considered traditional currency or bank deposits.
  2. There will be a three-year grace period for existing stablecoin issuers to comply with new licensing requirements, effects on consumers and the banking system could take time to show.
  3. The new regulations may help stabilize the use of stablecoins, but could also create confusion with many types available, especially for users outside the US.

Daily Chartbook #169

Daily Chartbook • 1755 implied HN points • 28 Mar 23
💰 Finance Banking
  1. US banks have tightened lending standards in autos and credit cards this quarter.
  2. Probability of the economy entering a recession in the next 12 months is at 35%.
  3. Bank deposits in the banking sector have declined by almost $600bn since the Fed began to raise interest rates.

Money Supply Growth Surges to Multi-Year High

QTR’s Fringe Finance • 26 implied HN points • 08 Dec 25
💰 Finance Banking
  1. The money supply has accelerated in recent months, with TMS at a multi-year high and M2 hitting record levels above $22 trillion.
  2. That surge is happening despite weak economic signs like rising layoffs, bankruptcies, and rising delinquencies, which makes the growth surprising.
  3. Fed easing (rate cuts and slower quantitative tightening) plus commercial bank lending are driving the increase, and a large share of today’s money stock was created since 2009 and especially since 2020.

What's So Special About the Fed's Bank Term Funding Program?

Without Warning • 235 implied HN points • 12 Apr 23
💰 Finance Banking
  1. The Fed's Bank Term Funding Program offers unique benefits such as par valuation and no haircut for certain collateral.
  2. Mark-to-market accounting can lead to time-based losses for banks using market-based funding like the BTFP.
  3. Central bank interventions like the BTFP in crises may have implications for bank capital and risk management.

Capital One's FY22 Annual Report MD&A

Value Investing Substack • 235 implied HN points • 09 Jul 23
💰 Finance Banking
  1. Capital One's FY22 Annual Report MD&A had an inspiring and charismatic tone unlike other companies' reports.
  2. The MD&A highlighted Capital One's empathetic approach to understanding and enriching customer lives.
  3. Capital One's focus on technological transformation and anticipating future industry changes set them apart in the banking sector.

The Fed's Repo Defensive: Part II

Concoda • 367 implied HN points • 24 Nov 24
💰 Finance Banking
  1. The Fed's Repo Facility helps provide emergency cash loans to banks when needed. This is crucial during times of financial stress to keep the market stable.
  2. Recently, there have been instances where dealers didn't fully utilize the available funds in the repo facility, indicating issues with how it's being accessed. This suggests that the process needs improvements to encourage more usage.
  3. The Fed is looking to make changes to the repo facility to fix its shortcomings and ensure dealers can quickly and efficiently obtain emergency funds when crises arise.

Top Links 621 The eclipse of the primary dealers. Trading real for bitcoin. A nightmare underground & the unconquered.

Chartbook • 300 implied HN points • 17 Jan 25
💰 Finance Banking
  1. Primary dealers in finance are facing tough times managing a huge amount of government debt, which is pushing $50 trillion. This could change how they operate and their importance on Wall Street.
  2. There is a growing trend of people trading traditional currency for Bitcoin, indicating a shift in how we think about money. This could lead to big changes in the financial landscape.
  3. The concept of a 'nightmare underground' suggests that there are hidden issues or challenges in the financial world that need to be addressed. Recognizing these problems is essential for understanding the bigger picture.

'Net-Zero' ESG banking cartel continues collapse in aftermath of Trump victory

The Dossier • 311 implied HN points • 09 Jan 25
🇺🇸 U.S. Politics Banking
  1. BlackRock and several major U.S. banks have left the Net-Zero Banking Alliance. This signals a shift away from the previous focus on climate-focused banking practices.
  2. The Net-Zero Banking Alliance aimed to reduce carbon emissions and support climate initiatives. Some believe these goals may have hurt economic growth and innovation.
  3. The victory of President Trump is seen as a factor in the collapse of the ESG banking agenda. This change could allow for more freedom in the American economy from international influences.

Trust Me: Wise, Circle, Ripple Seek Charters, Master Account Access

Fintech Business Weekly • 118 implied HN points • 06 Jul 25
💰 Finance Banking
  1. Many fintech companies like Wise, Circle, and Ripple are trying to get bank charters to simplify regulations and improve their operations. This will help them manage their assets without needing a third party.
  2. Obtaining a bank charter could allow these companies access to important payment systems, like those operated by the Federal Reserve. However, getting approval for this access is not guaranteed and can be complicated.
  3. Stripe has recently won approval for a special bank charter that lets it operate more independently as a payment processor. This gives it more control but does not allow it to hold customer deposits.

Chase Strikes First With Open Banking Blitzkrieg That Could Upend US Fintech Ecosystem

Fintech Business Weekly • 111 implied HN points • 13 Jul 25
💰 Finance Banking
  1. Chase's new fees for data access could make it very expensive for fintech companies to use banking data, which could harm their business models.
  2. If fintechs have to pay more for banking data, they might charge customers higher fees or go back to slower, less secure methods of getting data.
  3. Changes in the cost of accessing banking data could affect how well fintechs serve customers, especially those with lower incomes who need affordable options.

Bank Stocks Are Oversold

Policy Tensor • 216 implied HN points • 16 Mar 23
💰 Finance Banking
  1. Bank stocks are currently oversold based on the relative valuation model.
  2. Regional bank stocks are noted to be particularly cheap compared to large and broad banking.
  3. There is belief that the market is overpricing a potential catastrophe for banks, in particular regional ones.

Infographics: Intraday Repo Market Flows

Concoda • 286 implied HN points • 06 Jan 25
💰 Finance Banking
  1. The intraday repo market shows how cash moves between banks and institutions. It's important because it helps maintain stability in the financial system.
  2. Visual infographics can help people understand complex market flows clearly. They make the data accessible and engaging for everyone.
  3. Tracking daily repo market timings is useful for understanding financial trends. It allows investors to make informed decisions based on current market conditions.

$200 Billion in Bank Scams

DeFi Education • 739 implied HN points • 20 Sep 22
🔮 Crypto Banking
  1. The banking industry has a long history of fraud and scandals, with $200 billion in fines paid for various crimes like money laundering and market manipulation. This shows that big banks often get away with serious misconduct.
  2. Critics argue that crypto is a hotbed for crime, but it's clear that traditional banks have also facilitated illegal activities repeatedly without facing serious consequences. This double standard highlights the need for fair scrutiny of both systems.
  3. DeFi (decentralized finance) offers solutions to prevent manipulation and enhance transparency. Technologies like blockchain could potentially do a better job of reducing financial crimes compared to traditional banks.

Daily Chartbook #197

Daily Chartbook • 1388 implied HN points • 16 May 23
💰 Finance Banking
  1. Food commodity prices are easing from record highs.
  2. European Commission upgraded inflation and growth forecasts for EU.
  3. US supply chain stress tracker fell, putting downward pressure on goods prices.

Stunning SBA7(a) Fraud May Be Largest In Agency's History. Why Isn't Anyone Talking About It?

Fintech Business Weekly • 89 implied HN points • 03 Aug 25
💰 Finance Banking
  1. A major fraud scheme linked to the SBA 7(a) loan program involved a company called WaterStation, which is accused of running a Ponzi scheme and taking millions in loans that weren't properly secured.
  2. Lenders, including UniBank and Celtic Bank, allegedly knew or should have known about the fraudulent activities but continued to provide loans, causing severe financial harm to investors.
  3. The fallout from this fraud has led to numerous lawsuits, with victims struggling to repay loans for machines that mostly did not exist, highlighting serious issues in the oversight of loans by the SBA.

Top Links 558 Lending against chips. Cuba's oil collapse. India's financial revolution & Unger on our counterrevolutionary interlude.

Chartbook • 357 implied HN points • 12 Nov 24
💰 Finance Banking
  1. There's a growing trend of lending money using chips as collateral, which shows a new way to finance activities. It's like using your poker chips to get cash when you need it!
  2. Cuba's oil industry is facing major challenges, leading to significant changes in the economy there. This might affect everyday life for many Cubans.
  3. India is undergoing a financial revolution that is reshaping how its economy works. This could create more opportunities for people and businesses in the country.

Financial Bubbles: How They Make Us Poorer

QTR’s Fringe Finance • 17 implied HN points • 23 Dec 25
💰 Finance Banking
  1. When central banks pump money and push down interest rates, cheap credit funds projects that wouldn’t be viable under normal market conditions, creating malinvestment and financial bubbles.
  2. Those bubble activities are unsustainable and tend to collapse when money supply growth or cheap lending falls, causing boom–bust cycles, distorted prices, and economic harm.
  3. The cure is to stop monetary meddling and cut government spending so investment reflects real savings and consumer demand; simple tax swaps won’t fix the problem if overall spending keeps rising.

FinCEN, Banking Regulators Clarify CIP Rule's TIN Collection Requirements

Fintech Business Weekly • 111 implied HN points • 29 Jun 25
💰 Finance Banking
  1. New banking rules from FinCEN allow banks to collect taxpayer ID numbers differently. This makes it easier for customers to open accounts without giving out sensitive information right away.
  2. The Synapse bankruptcy case is still ongoing, with discussions about how to best manage and store important data related to the case. There are concerns about costs and the future of the data storage.
  3. There's a growing interest in stablecoins from big financial companies, with new regulations and products being developed. However, experts are cautious about their long-term impact on traditional banking systems.