The leveraged loan market has ballooned to record levels and the concentration of covenant-lite deals has grown in kind, leaving investors with less protection if loans move into default. Tim Cross, managing editor LCD news, and Marina Lukatsky, director of LCD research, discuss the current state of the market and why they aren't sounding an alarm yet.

Greg Hertrich, managing director and head of U.S. depository strategies at Nomura, believes deposit competition should intensify further as interest rates move higher and a handful of large banks roll out national deposit platforms. He discussed how other banks could follow the move and how higher rates are one of rising risk factors that could challenge credit quality.

KBW President and CEO Tom Michaud discussed the disconnect between banks' strong fundamental performance and investors' trepidation toward to the group. The Street has also reacted negatively to a handful of big-ticket bank deals, but Michaud believes large bank M&A activity will pick up.

Joe Fenech, head of equity research at Hovde Group, discussed current bank stock valuations, the growing importance of deposits in valuing franchises and the market's increased skepticism toward M&A, including transactions that appear favorable for the buyer.

Mick Mulvaney, the acting director of the Consumer Financial Protection Bureau, has changed the way the agency operates and reduced enforcement actions against banks. Now, Mulvaney is turning his attention to a powerful tool used by the agency called the civil investigative demand. S&P Global Market Intelligence colleague Brian Cheung discusses how the CFPB uses the tool and what changes could mean for banks and consumers.

CD specials are back. More banks are offering the promotional rates on CDs, or certificates of deposits, to attract new customers. While that is good news for savers, it means funding costs likely will rise even more for banks. The episode shines a light on recent CD rates offered by banks and features commentary on smart deposit strategies from Bruce Hinkle of StoneCastle Cash Management and KeyCorp CFO Donald Kimble.

De novo banks, or newly formed institutions, were all the rage before the credit crisis but virtually dried up in the years after the Great Recession. The tide is finally beginning to turn, with investors seeking to open banks across the country. Randy Dennis, president of DD&F Consulting, who has helped charter close to 100 banks in his career, discusses the new class of de novos and believes there will be considerably more activity.

More banks are reaching further out the yield curve in their loan portfolios to meet customer demands but, increasingly, advisers believe institutions need to proceed with caution. In the episode, experts from PIMCO, Sandler O’Neill, Chatham Financial and PrecisionLender discuss rate risk and how banks focused on funding will ultimately prove the winners.

Blockchain has been touted as a revolutionary technology that change will financial services forever. But, so far, despite millions invested in research and development by incumbents, fewer use cases have emerged than some had expected. Tom Mason, fintech research analyst at S&P Global Market Intelligence, explains how blockchain technology works and discusses its practical applications in financial services, while dispelling the notion that it will displace large institutions.

Deposits have become far more important to banks over the last year, particularly acquirers looking to bolster their funding bases. Given the change, Piper Jaffray analysts Matthew Clark and Will Curtiss say bank investors might find the greatest upside putting their cash behind would-be sellers with strong deposit franchises.