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MNI INTERVIEW: Banks Face Mounting Risks As Fed Hikes -Hoenig

(MNI) WASHINGTON

Ex-KC Fed chief and FDIC vice chair warns of further asset price declines as interest rates rise.

U.S. bank balance sheets could come under rising pressure as the Federal Reserve lifts interest rates and asset values decline because lenders are not as well capitalized as regulators maintain, former Kansas City Fed President Thomas Hoenig told MNI.

Hoenig, also ex-vice chair of the FDIC, said in the latest episode of MNI’s FedSpeak podcast that improvements to bank capital regulation since the last financial crisis were not enough to make him comfortable about the state of the banking system.

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U.S. bank balance sheets could come under rising pressure as the Federal Reserve lifts interest rates and asset values decline because lenders are not as well capitalized as regulators maintain, former Kansas City Fed President Thomas Hoenig told MNI.

Hoenig, also ex-vice chair of the FDIC, said in the latest episode of MNI’s FedSpeak podcast that improvements to bank capital regulation since the last financial crisis were not enough to make him comfortable about the state of the banking system.

Keep reading...Show less