Research library

Repurchase agreements exchange cash for securities with a promised reversal. Collateral reduces exposure, but haircuts, margin calls and refinancing needs can turn modest market moves into immediate cash demands.

Version note: Adds OFR’s August 2025 daily-collection evidence on zero haircuts, affiliated counterparties and the limits of comparison with the 2022 pilot. Existing historical findings and examples are retained.

How a premium service franchise and long-duration loans became vulnerable to deposit flight, why $30 billion of industry support bought time rather than a recovery, and how JPMorgan’s acquisition allocated the consequences.

Version note: Corrected the FDIC testimony source date from May 17 to May 18, 2023.

An internal funding price helps compare lending, deposit gathering and transaction businesses. The result depends on cash-flow timing, behavioral assumptions and how liquidity costs and benefits are assigned.

Version note: Corrected the cited guidance attachment’s date to March 1, 2016 and recast instructional wording as informational analysis.

A bank can own a valuable asset without being free to sell or pledge it again. Asset encumbrance links secured funding, public deposits, derivatives and contingent liquidity by asking which creditor already has a claim on each asset.

Capital above a regulatory minimum is not automatically available for distribution. Buffer rules, earnings-based payout limits, leverage constraints, subsidiary requirements and management’s stress capacity together determine how much a bank can safely return.

A portfolio can contain many separate borrowers and still depend on one economic outcome. Concentration analysis connects loans, guarantees, collateral and contingent commitments to the common shocks that can make losses arrive together.

Custody is a service for holding, settling and administering client assets. Its scale is measured by assets serviced, but its economics and risks come from contracts, operational accuracy, cash balances and the network of institutions through which ownership is recorded.

An industrial bank can be owned by a company outside the ordinary bank-holding-company framework, but the insured bank remains regulated. The important boundary is how the bank is protected from, and supported by, its commercial parent.

Government deposits can look like ordinary bank funding while consuming pledged collateral and following concentrated tax-and-spending cycles. Deposit insurance, collateral protection and immediately usable liquidity are three separate questions.

Continental’s rescue protected depositors and general creditors while replacing management and exposing shareholders to loss. The episode made “too big to fail” a public-policy issue well before the 2008 crisis.

Policy rates reach depositors unevenly. Beta, timing, account migration, funding competition and asset repricing jointly shape bank margins and customer returns.

Version note: Expanded rates-and-deposits research adds Q2 2026 FDIC aggregates, dated rate comparisons, explicit denominator definitions, migration arithmetic and monthly timing examples; earlier revisions retained unchanged.

Neobank is a business-model label, not a U.S. charter category. Legal entity, fund location, customer records and recurring economics determine how a digital account works and where its risks sit.

The credit crunch linked deteriorating mortgages, fragile wholesale funding, shrinking balance sheets and emergency public support. Its defining feature was the transmission of losses through the financial system, not one institution’s collapse.

Washington Mutual’s failure separated deposit continuity from investor recovery: the FDIC transferred the banking business to JPMorgan Chase while the holding company entered a different legal process.

How recurring control failures and a confidence-driven run overwhelmed Credit Suisse, what the rescue actually provided, and why the AT1 legal outcome remains distinct from the 2023 transaction.

Why Signature’s high-touch commercial franchise and payment network did not prevent a run, how regulators assessed its preparedness, and how the receiver split the deposit business from retained loans.

How a specialized innovation bank turned a deposit boom into long-duration exposure, why its liquidity defenses failed, and what the First Citizens transaction did and did not resolve.

How the 2004 stock-for-stock combination enlarged JPMorgan Chase’s consumer franchise, brought Jamie Dimon into its leadership and turned a projected savings case into a multiyear integration.

How SVB, Signature and First Republic reached different points of failure through concentrated deposits, interest-rate exposure and fragile liquidity, and what the emergency response actually protected.

The same bond can produce different reported equity effects under available-for-sale and held-to-maturity accounting. Its contractual payments and funding risks do not change with the label.

A deferred tax asset represents an accounting claim on future tax benefits. Its usefulness depends on legal availability, sufficient taxable income and timing; bank capital rules can restrict recognition beyond the financial-statement test.

Goodwill records the residual acquisition price after identifiable net assets are measured. A later impairment reduces reported profit and equity, but its relationship to cash, tangible equity and bank capital requires a separate bridge.

An upfront lending fee is not necessarily immediate accounting revenue. For loans held for investment, net deferred fees and qualifying direct costs generally enter interest income over the loan’s life, changing the effective yield.

The Fed’s assets and liabilities determine reserve supply together. Runoff, Treasury cash movements and reserve-management purchases have different mechanics, and the current operating instructions must anchor the analysis.

A failed bank’s operating franchise can move to a buyer while losses and unresolved claims remain in a receivership. The bid process, least-cost standard and creditor hierarchy determine how continuity and loss allocation fit together.

Credit unions combine member voting rights with deposit-funded intermediation and a capital base built largely through retained earnings. Membership, capital rules and share insurance shape the tradeoff between present member benefits and future resilience.

Deposit insurance is funded through a risk-sensitive assessment system whose base differs from insured deposits. Ordinary premiums, the fund’s reserve ratio and crisis-related special assessments measure different obligations.

FHLBank advances connect cooperative membership and market funding to secured institutional borrowing. Their economics depend on collateral, required stock, contractual options and the member’s condition as well as the quoted interest rate.

Central-bank liquidity depends on legal access, collateral eligibility, usable loan data and operational execution. The July and September 2026 changes clarify why pledged asset value is different from cash available to borrow.

A stress test connects a hypothetical economic path to borrower losses, bank earnings and capital. Its result depends on scenario design, portfolio detail and accounting assumptions, and is neither a forecast nor a direct measure of cash liquidity.