FDIC Alert! FDIC Chairman Martin Gruenberg begins finger pointing at the Fed in speech 3/6/23: ‘unrealized losses weaken a bank’s future ability to meet unexpected liquidity needs’ ‘especially when interest rates change to the extent they have over the past year’. 4 days later SBV fails…
by Dismal-Jellyfish Source: https://www.fdic.gov/news/speeches/2023/spmar0623.html ‘Juicy’ sections of his speech: Full speech: Introduction Good morning. I very much appreciate the invitation to speak to you today. I am especially glad to be here in person. Looking back to pre-pandemic days, there may have …