Michael Arougheti, President of Ares Management
The Walker Webcast
00:00
Hold to Market - Is SBB a Forced Seller?
SBB was caught in a little bit of a liquidity spiral, but we should not underestimate that the challenges, even in the hold to maturity world. There's about $770 billion of theoretical mark to market losses sitting within the banking system that are not being realized. SBB stands out by a wide margin from any other bank, G-SIB or not in the system in terms of that mismatch. So we're not for the behavioral psychology and confidence underpinning the banking system. It's all about how to make sure that everybody understands that.
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