Tag Archives: Basel III

CrunchedCredit.com’s 6th Annual Golden Turkey Awards

As is our tradition here at Crunched Credit, each year, about this time, we award our Golden Turkey Awards.  Once again, I must say that we are blessed, blessed with so many worthy candidates.  Our government, our courts, the regulatory estate both here and in Europe and around the world and the political class in general have … Continue Reading

HVCRE: Surrender Is Not An Option

The way the new Basel III High Volatility Commercial Real Estate Lending Rule (HVCRE) was crafted, and is being enforced, is insane. We’ve written about this before.  This is one of the purest examples of the regulatory apparatchik’s mule-headed refusal to look at data or engage with the banking establishment to develop thoughtful and effective … Continue Reading

Schrodinger’s Cat

We here at CrunchedCredit are getting ready, as we do each year at this time, to polish up the palantir and make our predictions and business projections about the coming year.  While it can be a fun exercise, it’s actually serious business.  To start with, you need a macro view of the geopolitical situation, the … Continue Reading

The Grand Illusion: A Strategy

Have you heard the following thought expressed recently in one way or the another, “I’m less worried about what new black swans might swim onto our screens and more worried that we will just wake up one day, peer out of our bunker of habituated indifferences to the drumbeat of troubling news and decide, suddenly, … Continue Reading

European Sovereign Debt and the Clogging of the Banking System

Jens Weidmann, president of Deutsche Bundesbank, recently wrote a terrific piece in the Financial Times, making the point that the Faustian bargain between European sovereigns, their national banks, the ECB and EU policymakers to encourage European banks to gorge on sovereign debt may be politically attractive in the short run while being fundamentally a horrible … Continue Reading


Last week, I spoke in London at a conference, “Investing in Bank Assets” sponsored by the Association of Financial Markets in Europe (AFME). The Conference had a titillating, if a tad alarming, subtitle “The European Purge Begins”. The question is, of course, is it true?  The purge, I mean.   Is there a European purge afoot, and … Continue Reading


With Thanksgiving approaching and the holiday season in full swing, we here at Crunched Credit would like to present our annual “Golden Turkeys”. The Golden Turkey for the Most Confounding Regulation: The Premium Capture Reserve Account Back in March, the credit risk retention NPR was released. Perhaps the most unexpected (and unwelcomed) part of the … Continue Reading

Commercial Real Estate 2010 Recap: And the Golden Turkey Award Goes To…

 With Thanksgiving upon us and the holiday season in full swing, we here at CrunchedCredit.com would like to present our “Golden Turkeys”, noting certain special contributions to the ongoing resurrection of the Commercial Real Estate Finance industry. The Golden Turkey for the Best Self-Inflicted Wound: FASB Hands down, this goes to the Financial Accounting Standards … Continue Reading

Basel III: Big Deal or Not

If there’s a worry bead left to worry, hold it in reserve for Basel III. Basel III (its informal name – it’s actually a patch job on the never really fully implemented Basel II) is the most recent effort by the Basel Committee on Banking Supervision to fix the worldwide financial system. I am far … Continue Reading