The Federal Reserve Bank of St. Louis on Interest Rate Risk

Before that, in the savings alone crisis, that's exactly what thrifts were doing. They were taking very large amounts of interest rate risk. And it caused in the US context at peak $150 billion. This is back in 1979. Flash forward. I told you, FSOC 2014, 2015, what it's doing. Well, hasn't done anything since then. All right. But the Federal Reserve Bank of St. Louis on February 9th, 2023,. In other words, put out a thing on interest rate risk by its top supervisor. That's a very helpful thing. It said that very large losses were accumulating that weren't recognized and didn't give a number for them