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

02/21/2013 | Bloomberg

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

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