FDIC's Hoenig seeks greater transparency on banks' risk exposure

02/21/2013 | Bloomberg

U.S. accounting laws that allow banks to account for less of their derivatives portfolios than their European peers do mask the big banks' true size, says Federal Deposit Insurance Corp. Vice Chairman Thomas Hoenig. "Derivatives, like loans, carry risk," Hoenig says. "To recognize those bets on the balance sheet would give a better picture of the risk exposures that are there."

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