Industry Reports

Systemic Sirens’ Song: Credit Suisse & Wells – 2 Peas in a Pod?


​Are two peas in a pod, Credit Suisse & Wells Fargo with both experiencing a breakdown of supervision at the Board level? Wells is taking action, as Credit Suisse sneaks in mega-bonuses even after the back-peddle over weekend. Sell CS stock, Buy WFC. Sell CS debt, Buy WFC longer-dated sub debt.

Systemic Sirens’ Song: Deutsche Bk, Zions, European Elections


​This week VRA sings about how the media impacts the spin on Deutsche Bank as further analysis shows continued extreme weakness. Zions looks to issue bonds/preferreds as it goes ratings shopping. European elections like a WWF smackdown of the Euro and regional monetary stability.

Systemic Sirens’ Song Weekly: Credit Suisse, Citizens Financial, Movers


​Launch our weekly Systemic Sirens' Song that will highlight our forward thoughts on systemic financials globally. Credit Suisse's corporate governance and compliance is out of control and cap stack should widen on hightened systemic risks. Launch on Citizens Financial with Buy on Stock and some Bonds. Review 1Q17 Systemic Sirens Movers.

The Italian Job: Banking Capital & Company Heist?


Italian banking is bust, and the desperate search for capital is mostly for naught. Still there is an opportunity for strong economic earning banks, like JPMorgan to do accretive deals.

Global Systemic Banks: Trading Markets Liquidity & Economic Earnings


Trading markets liquidity is affected by many factors. We believe healthy global counterparties characterized by strong economic earnings is key success factor. Layering on AT1/TLAC reg debt is not the answer.

Encore: Global Systemic Banks, The Great Banking Race is Over!


Our Encore version of "Global Systemic Banks 2017 Outlook" updates for the saddened state of Italian banking characterized by intervention & contravention. Also our concerns on Euro bank economic earnings dysfunction.

Substantive Research Portal-London picks "VRA 2017 Global Systemic Banks Outlook" Top 5 Read


Substantive Research, a London-based research portal, picks Viola Risk Advisors' "2017 Global Systemic Bank Outlook" as Top 5 Read. See:

Global Systemic Bank Outlook for 2017: “The Great Banking Race” is Over! (audio weblink)


"The Great Banking Race" is over! and the large European banks have lost out to the Mega-banks in the US, Canada, Japan & China. We review the impacts of Brexit, "The Donald", and rising US interest rates and present "actionable" trades for 2017.

Global Systemic Banks 2017: "The Great Banking Race is Over!"


The Great Banking Race is Over as the European banks have lost out from an economic earnings viewpoint and market shares in capital markets. Deutsche Bank extremely vulnerable to German government intervention. 

Euro Banks: Capable of Economic Earnings? Deutsche Bank’s Counterparty Impacts


European Banks are in a deep funk, with some in a death spiral that will require government intervention. Not good for global bank systemic stability and European bank funding. Strategic models have to change and NOW.

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