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MNI BRIEF: Barr Says Fed Monitoring Rate Risk At Banks

(MNI) WASHINGTON

The Federal Reserve is monitoring the risks that higher interest rates pose to the balance sheets of banks after losses on a large portfolio of Treasuries helped precipitate the collapse of Silicon Valley Bank, the Fed’s vice chair of supervision Michael Barr told Congress Tuesday.

“We are monitoring the financial system, monitoring the banking system, we’re looking at interest rate risk and liquidity risk across the banking system,” Barr said. “The banking system is sound and resilient. Depositors are safe. Most banks are highly effective in managing interest rate risk and liquidity risk.”

(See MNI INTERVIEW: Financial Stress Could Be In Early Stage-Hoenig)

MNI Washington Bureau | +1 202 371 2121 | pedro.dacosta@marketnews.com
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MNI Washington Bureau | +1 202 371 2121 | pedro.dacosta@marketnews.com
USCentral Bank NewsPolicy NewsHomepageFederal ReserveRegulationBriefStoryRegionNorth America
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