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The Basel III Endgame: Bank Regulation In A Post-SVB World | Steven Kelly
Forward Guidance
The Reality of Interest Rate Swaps in the US Banking System
Only 6% of aggregate assets in the US banking system are hedged by interest rate swaps./nBanks have the option to withdraw money from bank deposits on a callable CD./nThe real hedge for banks is the assumption of weighted average deposit life./nLarge regional and G-sit banks have huge swap positions, but they are not hedging their held maturity securities or loan forevalue./nJP Morgan is not paying more than 3.7% on its deposits./nThe story of interest rate risk is not a straightforward one for banks with deposit franchises.
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