Steven Kelly, Associate Director of Research at the Yale Program on Financial Stability, returns to Forward Guidance to update Jack on the Federal Reserve’s forthcoming plans to increase capital requirements for U.S. banks. Filmed on July 11, 2023.
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Kelly’s latest “Without Warning” Substack: https://www.withoutwarningresearch.com/p/the-macro-story-of-svb-isnt-just
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Timecodes:
00:00 Introduction
02:45 Bank Capital Ratios, Explained
18:52 Busting Myths About Banks' Interest Rate Hedging
38:15 Accounting For Unrealized Losses
46:56 How Much Money Is Leaving the Banking System?
54:16 U.S. Banking System Is "Stable But More Fragile"
01:02:47 The Basel III Endgame
01:05:54 Interest Rates And Financial Stability
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Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.
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