Who Takes the Losses on Office CRE? Here’s an Example: the Bankruptcy of Office Properties Income Trust by Wolf Richter • Nov 3, 2025 • 28 Comments Shareholders got wiped out, noteholders take losses and get the company, banks appear to be largely unscathed.
What Does the “Federal Funds Rate,” which the Fed Targets, still Measure? Not Much, Mostly a Bizarre Arbitrage Trade by Wolf Richter • Nov 1, 2025 • 19 Comments “The FOMC should modernize the target rate”: Dallas Fed president Lorie Logan.
Banks Borrow Record $50 Billion at Fed’s New SRF amid Hot Repo Rates, ON RRPs Spike to $52 Billion in Opposite Direction by Wolf Richter • Oct 31, 2025 • 31 Comments Month-End Liquidity-Palooza: Banks finally used the new & improved SRF the way the Fed has been exhorting them to use it to keep a lid on repo rates.
Repo Market Brushfires Doused by Banks’ Use of the Fed’s Standing Repo Facility (SRF) by Wolf Richter • Oct 20, 2025 • 76 Comments The new & improved SRF begins to serve its purpose of allowing the Fed to push QT as far as possible without blowing anything up, unlike last time.
Money-Market Funds & CDs: Americans and their Piles of Interest-Earning Cash by Wolf Richter • Jun 13, 2025 • 105 Comments After inflation, “real” yields on money-market funds are near 2%, and households kept pouring cash into them. But CDs lost ground.
Banks Getting Rid of Bad CRE Loans: Dutch Megabank ING Dumps One of the Largest Office Properties in San Francisco by Wolf Richter • Jun 5, 2025 • 30 Comments The two-tower property sold at a 75% discount. ING’s loss was much smaller. Investors took a bigger loss.
Here Come the HELOCs: Mortgages, Housing-Debt-to-Income-Ratio, Serious Delinquencies, and Foreclosures in Q1 2025 by Wolf Richter • May 14, 2025 • 61 Comments Who’s on the hook this time? Mostly not the banks, but taxpayers, except for HELOCs.
Housing Bubble & Bust #1 and #2 as Seen through Employment at Mortgage Lenders: They Shed Jobs Again, 38% Gone by Wolf Richter • May 12, 2025 • 69 Comments Nonbank mortgage lenders and loan brokers react quickly to demand, which has collapsed.
FDIC Ends Disclosing Total Assets of Banks on “Problem Bank List,” as Disclosure Might Suddenly Trigger a “Disorderly Run” by Wolf Richter • Feb 26, 2025 • 96 Comments Are disclosures of “unrealized losses” on bank balance sheets next?
Money Market Funds, Large CDs, Small CDs, and Total Deposits: Americans’ Huge Piles of Interest-Earning Cash as Rates Drop by Wolf Richter • Dec 13, 2024 • 48 Comments Household cash in money market funds jumps to a record but CD balances begin to decline.
