Media and Policy

Research on U.S. Bank Fragility, Interest Rate Risk, and CRE Crisis

• NBER Digest [1]: "The Fed’s Monetary Tightening and the Risk Levels of US Banks"

• The Wall Street Journal [1]: "Dozens of Banks May Have Risks Similar to Silicon Valley Bank, Economists Find"

• The Wall Street Journal [2]: "Few Banks Are Hedging Interest-Rate Risk"

• Financial Times [1]: "The US bank system is more fragile than you’d think"

• Financial Times [2]: "It is time to move to banking without subsidised deposits"

• Financial Times [3]: "The $1tn ‘hold-to-maturity’ sleight-of-accounting"

• The Economist [1]: "How deep is the rot in America’s banking industry?"

• The Economist [2]: "Markets think interest rates could stay high for a decade or more"

• The Economist [3]: "First Republic Bank is on the edge of a precipice"

• The Washington Post: "Hundreds of banks would be vulnerable in SVB-style runs, researchers say"

• Fortune [1]: "U.S. Banks are sitting on $1.7 trillion in unrealized losses, research says. That’s not a problem—until it is"

• Forbes: "How Should Reporting And Governance For Banks Change After SVB?"

• Office of Financial Research Brief Series: "Some U.S. Banks May Remain Vulnerable to Losses in Their Securities Portfolios: Introducing Two New Forward-looking Metrics to Assess Future Risk"

• Bloomberg [1]: "SVB Took the Wrong Risks" 

• Bloomberg [2]: "Nobody Trusts the Banks Now" 

• Bloomberg [3]: "Small US Banks Are Increasingly at Risk in Commercial-Property Slump"

• The New York Times [1]: "How Silicon Valley Bank’s Failure Could Have Spread Far and Wide"

• The New York Times [2]: "Yes, You Should Be Worried About a Potential Bank Crisis. Here’s Why."

• Market Watch: "Academic study flags 186 banks as vulnerable to a run as Silicon Valley Bank was"

• DailyMail [1]: "Assets of US banks are worth massive $2TRILLION less than their accounts report and 200 banks could be at risk if customers rush to withdraw, leading academics warn"

• DailyMail [2]: "Will empty offices cause the next banking crisis? Commercial real estate 'debt bomb' of $929 billion comes due this year with HUNDREDS of banks facing insolvency runs if default rates on the loans spike"

• ProMarket [1]: "How Many Banks Are at Risk of Insolvency Right Now?" 

• ProMarket [2]: "Resolving the Banking Crisis" 

• ProMarket [3]: "Gambling for Resurrection: How U.S. Banks Hedged Interest Rate Risk During 2022 Monetary Tightening"

• The New York Times [2]: "Zombie Offices’ Spell Trouble for Some Banks"

• NPR Planet Money: "Are commercial real estate and private credit ticking time bombs?"

• Yahoo Finance, "Commercial Real Estate Outlook for 2024"

• BBC: "What a $1 deal says about America's office market"

• Off Planet Property Exchange, "Commercial Real Estate Loan Defaults Could Surge as Interest Rates Soar, Warn Experts"

• Commercial Observer: "Nearly Half of Office Loans Now Risk Default: Report"

• Think Advisor, "Falling Asset Values Could Put More Banks in Jeopardy"

• New York Post: "Banks reportedly face $160B in losses on commercial real estate loans"

• GlobeSt: "14% of CRE Bank Loans Are in Negative Equity: Study"

• MarketPlace: "Could commercial real estate still tank regional banks?"

• BISNow: "Economists: 44% Of U.S. Office Loans Underwater, Threatening More Bank Failures"

• Quartz: "Commercial real estate woes are a bankruptcy alarm for US regional banks"

• MarketWatch: "Opinion: How much pain could commercial real estate heap on U.S. banks and the economy? A lot."

Research on Forbearance and Debt Relief

• Fortune [2]: "The lesson lenders learned from the Great Recession: Forbearance works"

• Money Magazine: "Why a Third of Borrowers in Debt Forbearance Programs Are Still Paying Their Bills"

• USC Marshall Feature Article: "Forbearance as Credit?"

• Institute for New Economic Thinking: "INET Debt Talk"

• NBER Digest [2]: "Lessons from Pandemic-Related Debt Forbearance"

Research on Digital Banking, Branches, and Financial Inclusion

• MarketWatch: "2025 Survey: Banking Habits by Generation"

• Los Angeles Business Journal: "Banking & Finance Quarterly: City National Bank Plans a New Branch"

• UCLA Anderson Review: "Mobile Banking, a Boon to Many, Disadvantages Those Who Bank at Branches"

• The FinReg Blog at Duke: "Bank Competition amid Digital Disruption: Implications for Financial Inclusion"

Research on Housing and Mortgage

• Chicago Booth Review: "Need a Mortgage? Banks Prefer Modern, Standardized Housing"

• World Bank All about Finance Blog: "Reducing Racial Disparities in Consumer Credit: the Role of Minority Loan Officers in the Era of Algorithmic Underwriting".