Against an uncertain global economic backdrop, hosts Carolyn Henson and Michael Porta talk to Moody’s analysts Edoardo Calandro, Rita Sahu and Nicholas Zhu about prospects for global banks in 2023.

Speakers: Edoardo Calandro, VP – Senior Credit Officer, Moody’s Investors Service; Rita Sahu, VP – Senior Credit Officer, Moody’s Investors Service;  Nicholas Zhu, VP – Senior Credit Officer, Moody’s Investors Service

Hosts: Carolyn Henson, VP – Senior Research Writer, Moody’s Investors Service; Michael Porta, VP –Senior Research Writer, Moody’s Investors Service

Related Research:

• Banks – Global: 2023 outlook stable as rising rates, strong balance sheets counter global slowdown
• Banking System Outlook – China: Deteriorating operating environment drives negative outlook

Jill Cetina and David Fanger explain how this round of quantitative tightening will affect bank funding and capital. Plus, Coinbase faces higher risks, and Twitter’s lenders face markdowns.

Speakers: Jill Cetina, Associate Managing Director, Moody’s Investors Service; David Fanger, SVP, Moody’s Investors Service

Hosts: Danielle Reed, VP – Senior Research Writer, Moody’s Investors Service; Erin McDermott, AVP –Research Writer, Moody’s Investors Service

Related Research:

• Banks – Cross Region: Twitter underwriting losses thus far appear moderate for syndicate banks
• Moody's reviews Coinbase (Ba3 corporate family) for downgrade
• Coinbase Global, Inc.: FTX implosion leaves vacuum in crypto space, a credit negative for Coinbase
• Federal Reserve’s second round of quantitative tightening will have pronounced effects on banks

 Vincent Gusdorf, Fadi Massih and Warren Kornfeld discuss the aftermath of the FTX bankruptcy and explain how crypto finance risks could spill over into traditional financial institutions.

Speakers: Vincent Gusdorf, Senior Vice President, DeFi & Digital Assets, Moody’s Investors Service; Fadi Massih, VP – Senior Analyst, Moody’s Investors Service; Warren Kornfeld, Senior Vice President, Moody’s Investors Service

Hosts: Danielle Reed, VP – Senior Research Writer, Moody’s Investors Service; Michael Porta, VP – Senior Research Writer, Moody’s Investors Service

Related Research:

• Financial Institutions – Cross Region: Failed bailout of FTX is credit negative for crypto market
• Exchanges & Clearing Houses – US Crypto meltdown raises heat on FTX's alternative clearing model
• As crypto finance system comes out of shadows, a dilemma emerges for banks

As COP 27 winds down, Shree Khare and Tomoya Suzuki discuss Japan's rising natural catastrophe risks, and Megan Fox and Brandan Holmes explain what's driving banks' and insurers' net zero plans.

Speakers: Shree Khare, Vice President of Model Development, RMS; Tomoya Suzuki, VP – Senior Analyst, Moody’s Investors Service; Megan Fox, VP – Senior Analyst, Moody’s Investors Service; Brandan Holmes, VP – Senior Credit Officer, Moody’s Investors Service

Hosts: Danielle Reed, VP – Senior Research Writer, Moody’s Investors Service; Myles Neligan, VP – Senior Research Writer, Moody’s Investors Service

Related Research: 

• Banks’ net zero financed emissions plans show progress, underscore challenges
• Insurance – Global: Net zero plans help insurers manage carbon transition risks

Srikanth Vadlamani explains why Indian banks’ loans will perform well despite rising interest rates, and Eugene Tarzimanov discusses the threat to Asia-Pacific banks from China’s slowing economy.

Speakers: Srikanth Vadlamani, VP – Senior Credit Officer, Moody’s Investors Service; Eugene Tarzimanov, VP – Senior Credit Officer, Moody’s Investors Service

Hosts: Danielle Reed, VP – Senior Research Writer, Moody’s Investors Service; Jun Yang, AVP – Research Writer, Moody’s Investors Service

Kelvin Kwok, Mattias Frithiof and Farooq Khan explain the implications of inflation and rising interest rates for Asia-Pacific insurers and Western European and UK banks.

Guests: Kelvin Kwok, AVP - Analyst, Moody’s Investors Service; Mattias Frithiof, AVP – Analyst, Moody’s Investors Service; Farooq Khan, VP – Senior Analyst, Moody’s Investors Service

Hosts: Danielle Reed, VP – Senior Research Writer, Moody’s Investors Service; Myles Neligan, VP – Senior Research Writer, Moody’s Investors Service

Related content on Moodys.com (some content only available to registered users or subscribers):

• Life insurance – Asia-Pacific: Asset and liability management will remain disciplined amid rising rates
• Banks – Western Europe: Rising rates bring clear margin gains for European banks, but higher costs and loan impairments will offset benefits
• Banks and Building Societies – United Kingdom: Headwinds from affordability shock to dampen profitability boost from rate rises

James Eck explains that with insured loss estimates of up to roughly $70 billion, earnings of property insurers and reinsurers will fall sharply, and some reinsurers could face capital erosion.

Guests: James Eck, Vice President – Senior Credit Officer, Moody’s Investors Service

Hosts: Danielle Reed, Vice President – Senior Research Writer, Moody’s Investors Service

To read more on this topic, visit Moodys.com (some content available only to registered users or subscribers).

• P&C Insurance and State Government – US: Hurricane Ian hits insurers' Q3 earnings; capital erosion risk for some (re)insurers 
• Reinsurance – US: Reinsurers diverge on property catastrophe coverage in Florida; higher pricing ahead

Louise Welin and Maria Gillholm discuss difficulties ahead for Swedish mortgage borrowers and real estate companies, and implications for banks. Also, new business is slowing for US mortgage insurers.

Guests: Bob Garofalo, Vice President – Senior Credit Officer, Moody’s Investors Service; Louise Welin, Vice President – Senior Credit Officer, Moody’s Investors Service; Maria Gillholm, Vice President – Senior Credit Officer, Moody’s Investors Service

Hosts: Danielle Reed, Vice President – Senior Research Writer, Moody’s Investors Service, and Myles Neligan, Vice President – Senior Research Writer, Moody’s Investors Service

To read more on this topic, visit Moodys.com (some content available only to registered users or subscribers).

• Financial Institutions – Sweden: Higher central bank rates are credit positive for banks, but asset risks are building 
• Mortgage Insurance – US: Profitability remains high as housing market begins to cool 
• Cross Sector – Sweden: Real estate refinancing risk worsens, but impact on banks manageable 

Rajeev Bamra and Sadia Nabi discuss regulation of global cryptoassets and stablecoins in the US. Also: a proposal to clear certain Treasurys trades, and banks' risks from conflict in Nagorno-Karabakh.

Guests: Rajeev Bamra, head of DeFi and Digital Assets Strategy, Moody’s Investors Service; Sadia Nabi, Vice President – Senior Analyst, Moody’s Investors Service; Lev Dorf, Assistant Vice President – Analyst, Moody’s Investors Service; Donald Robertson, Associate Managing Director, Moody’s Investors Service

Hosts: Danielle Reed, Vice President – Senior Research Writer, Moody’s Investors Service, and Michael Porta, Vice President – Senior Research Writer, Moody’s Investors Service

C.J. Wong explains the forces behind Vietnamese banks’ credit strength, and Rebecca Tan discusses inflation's impact on banks in six member states of the Association of Southeast Asian Nations.

Guests: C.J. Wong, Analyst, Moody’s Investors Service; Rebecca Tan, Vice President – Senior Analyst, Moody’s Investors Service 

Hosts: Danielle Reed, Vice President – Senior Research Writer, Moody’s Investors Service, and Jun Yang, Assistant Vice President – Research Writer, Moody’s Investors Service

To read more on this topic, visit Moodys.com (some content available only to registered users or subscribers).

• Banking System Outlook – Vietnam: Economic rebound and improving profitability support positive outlook
• Government of Vietnam: FAQ on economic prospects, environmental risks and institutional challenges
• Rating Action:  Moody's takes rating actions on 12 Vietnamese banks
• Banks – ASEAN: Inflation-driven rate rises will boost margins but rapid increases would be credit negative