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Thomas M. Hoenig is the Vice Chairman of the FDIC. Prior to joining the FDIC Board in 2012, Mr. Hoenig was the President of the Federal Reserve Bank of Kansas City and a member of the Federal Reserve System's Federal Open Market Committee from 1991 to 2011.
Mr. Hoenig's Biography
Ending the Government Subsidy
Breaking up complex financial companies up by business lines will end subsidized risk taking, resulting in greater competition, accountability, and stability to support the long-run growth of the U.S. economy. Risk taking is a vital part of the financial system. Let's let it thrive by moving broker-dealer and shadow-banking activities outside of the safety net and its subsidy so they can be subject to the forces of the market, and limit commercial banks to the core intermediation activities the safety net was intended to protect, activities essential to a well-functioning economy. More details
| April 24, 2013 |
Financial Stability: Incentives Matter Remarks to The Asian Banker Summit; Jakarta, Indonesia |
| April 17, 2013 |
A Turning Point: Defining the Financial Structure presented to 22nd Annual Hyman P. Minsky Conference at the Levy Economics Institute of Bard College; New York, NY |
| March 28, 2013 |
Stop Subsidizing Wall Street; The Washington Post |
| March 15, 2013 |
Letter to Bipartisan Policy Center |
| January 17, 2013 |
Banking Safety Net Makes Wall Street Dangerous; American Banker |
| December 2012 |
Restructuring the Banking System to Improve Safety and Soundness - (Original: May 2011; Revised: December 2012) PDF (PDF Help) |
| November 30, 2012 |
Financial Oversight: It's Time to Improve Outcomes to the AICPA/SIFMA FSA National Conference; New York, NY |
| September 19, 2012 |
Financial Stability Through Properly Aligned Incentives delivered to the Exchequer Club, Washington, D.C. |
| June 11, 2012 |
No More Welfare for Banks; Wall Street Journal |
| May 9, 2012 |
Restructuring the Banking System to Improve Safety and Soundness presented to the Financial Institutions Subcommittee of the US Senate Committee on Banking, Housing, and Urban Affairs |
Strengthening capital
Capital standards must be simplified and strengthened to contain the impulse for excessive leverage and to provide a more effective backstop to absorb unexpected losses. Using a straightforward ratio of tangible equity capital to total assets is a more conservative, more credible method of assessing capital adequacy because it counts as the only capital only that can truly absorb losses.
| April 23, 2013 |
Tangible Equity Capital Ratios for Global Systemically Important Banks - PDF (PDF Help) |
| April 9, 2013 |
Basel III Capital: A Well-Intended Illusion; remarks to IADI Research Conference. Basel, Switzerland |
| December 13, 2012 |
Get Basel III Right and Avoid Basel IV, Financial Times |
| November 30, 2012 |
Financial Oversight: It's Time to Improve Outcomes to the AICPA/SIFMA FSA National Conference; New York, NY |
| September 14, 2012 |
Back to Basics: A Better Alternative to Basel Capital Rules; delivered to The American Banker Regulatory Symposium; Washington, D.C. |
| June 12, 2012 |
Statement on Basel Capital Notices of Proposed Rulemaking |
Improving supervision
We must reestablish a more rigorous examination program for the largest banks and bank holding companies to best understand the risk profile of both individual firms and financial markets.
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