Telis Demos
speaker
656 appearances
10 recordings
1 series
first heard Jun 2018
last heard Dec 2024
Telis Demos’s voice in public audio — every appearance, attributed to the second.
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Appearances
historically high rates the default rate or the charge off rate on bad loans is running is has ticked up a little bit over the past couple of years but is still at very low levels this is somewhat surprising given that the economy is strong but not entirely gangbusters and that people have been worried that for a long time that because interest rates were so low for so long that people borrowed so much money that they had over leveraged themselves that they were in too much debt
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and that some of that debt would eventually start to hurt, especially when wage growth isn't phenomenal and corporate income isn't growing at quite the rate that it was a few years ago.
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But that just hasn't flowed through yet, whether or not that even will happen.
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And so for banks, that basically means that they've been able to keep lending out money without really worrying too much about whether or not it's going to come back in.
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And that's been a huge tailwind for banks and is something that really has kept their prospects going even when the interest rate picture itself hasn't looked so good for them.
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Every deal that you might get from a bank, whether it's your mortgage or what you're getting on a deposit or a savings account, is driven by that bank's policies in particular.
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But it's really important to know the macro environment and to understand both the pressures on banks and places where they could be doing better for you, but they aren't.
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So in the case of deposit interest, it's something that maybe you should be expecting more of.
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In terms of lending, knowing that default rates are pretty low, you may be able to get a better rate out of your bank because they have faith that you're going to pay them back.
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So these big picture macro things are certainly things that any individual consumer or small business should be thinking about as they interact with their bank.
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That's right.
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For a long time, it was totally commoditized, the business of essentially accepting credit card payments on behalf of a merchant.
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It was pretty simple.
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People wanted to swipe their cards.
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They'd go to a terminal.
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They'd walk into the store, go to a terminal, swipe their card.
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Somebody needed to do all that processing work.
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banks had years ago outsourced all that, basically.
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First, you saw the creation of the networks, Visa and MasterCard.
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And then you saw these sort of processing businesses that were set up to work with retailers and other merchants in order to get them to accept those.
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