Michael Ericson

Dan Siciliano, Chair of the Council of FHLBs, and Michael Ericson, President of the Chicago Federal Home Loan Bank, discuss the current health of the banking system. They cover topics such as the collapse of SVB, how the FHLB operates, credit risk, the role of the FHLB vs the Fed, and bank credit worthiness. They also share lessons learned from the March bank panic and discuss Silvergate Bank and Silicon Valley Bank.

Michael Ericson and Dan Siciliano discuss the Federal Home Loan Banks (FHLBs), their role in the banking system, and the declining advances from FHLBs to US banks. They talk about the FHLB's mission, capitalization, implicit government guarantee, and their support for affordable housing. They also discuss liquidity pressures in the banking system and how FHLBs manage interest rate risk.