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c.The Credit CurrentDAILY INTELLIGENCEWhat matters in Credit
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A path through the research

Three suggested sequences. Read at your own pace, queue articles and mark each version read.

Funding and credit pricing

Follow the path from market rates to funding contracts and loan economics.

  1. STEP 1 · Industry concept

    Yields, credit cards and long-term installments: three different repricing clocks

    Begin with how rates reach cards and installment loans.

  2. STEP 2 · Industry concept

    Deposit beta: why funding costs move later, unevenly and sometimes the wrong way

    Separate deposit pricing from the speed of repricing.

  3. STEP 3 · Industry concept

    Warehouse lines: borrowing bases, advance rates and the liquidity hidden in covenants

    See how eligibility and covenants constrain funding.

  4. STEP 4 · Industry concept

    Loan sales and forward flows: who keeps the economics and the risk?

    Trace the economics and risks retained after a sale.

  5. STEP 5 · Industry concept

    RAROC and credit pricing: earning enough for the risk and capital used

    Bring expected losses, operating costs and capital together.

Underwriting and affordability

Connect borrower capacity, credit decisions, product controls and observed performance.

  1. STEP 1 · Industry concept

    Cash-flow underwriting: variable income, affordability and the limits of transaction data

    Start with variable income and transaction-data limitations.

  2. STEP 2 · Law & regulation

    ECOA: making adverse-action reasons explain the actual decision

    Connect decisions to accurate, specific explanations.

  3. STEP 3 · Law & regulation

    Military Lending Act: MAPR, covered borrowers and product controls

    Understand a concrete borrower-protection control framework.

  4. STEP 4 · Industry concept

    Second-look lending waterfalls: incremental approvals without misleading economics

    Assess incremental approvals and routing incentives.

  5. STEP 5 · Industry concept

    Vintage analysis: separating credit quality from portfolio growth

    Learn how to compare outcomes across origination cohorts.

Banking, supervision and capital

Build a view of responsibilities, supervisory assessments and regulatory constraints.

  1. STEP 1 · Industry concept

    Sponsor banking: who owns the customer, the ledger and the risk?

    Map who controls funds, customer records and service providers.

  2. STEP 2 · Industry concept

    CAMELS ratings: six dimensions of bank condition and the 2026 reform proposal

    Understand the six supervisory dimensions and public-data limits.

  3. STEP 3 · Law & regulation

    Basel III Endgame re-proposal: capital relief, risk sensitivity and the binding constraint

    Separate proposed capital changes from binding requirements.

  4. STEP 4 · Law & regulation

    CFPB Section 1033: open banking, consent and the stayed compliance clock

    Follow data access, authorization and the stayed compliance clock.

  5. STEP 5 · Law & regulation

    Model-risk management after SR 11-7: what SR 26-2 changes

    Connect model use to governance, validation and change control.

These are editorial reading sequences, not completion requirements. Browse the full research library →