ROADSHOWS: Communications / Media / Software - Andrew Freedman & Felix Wang /Hedgeye   •   London 10 - 11 Nov   03 - 11 Nov 26       Behavioural Finance, Portfolio Strategy & Quant - Jim Rocchio /Kailash Capital Research   •   London   05 - 05 Nov 26       US, European and Asian SELL / SHORT Ideas - Robert Prather /Vision Research   •     10 Nov - 15 Dec 26      
Filters

The Cut

Fortnightly publication highlighting latest insights from IRF providers

Company Research

US Banks: Is system deposit flight being contained?

Financials

Report by Galliano's Financials Research

Deposit outflows for 1Q23 in the most affected of the mid-sized US banks were in low double digits, much less severe than the deposit collapse suffered by First Republic. In fact, since the end of 1Q23, some smaller banks have reported slightly positive deposit flows, and the recent usage of Fed and FHLB funding lines is not alarming. Victor Galliano reviews a select group of mid-sized US banks focusing in on a number of key metrics; despite the challenging times, he likes M&T Bank and Western Alliance. Victor also believes that market concerns regarding PacWest’s viability may be overdone.

Edition 160 - 12 May 23