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Board of Directors - Thomas M. Hoenig

Recent Developments

Strengthening the Financial System

    Rationalizing the Structure
    Simplifying complex financial companies by breaking them up along 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
    Speeches, Testimony, Statements and Other Material

    Capital Adequacy
    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.
    Speeches, Testimony, Statements and Other Material

    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.
    Speeches, Testimony, Statements and Other Material

Mr. Hoenig's Biography

Speeches, Testimony, Statements and Other Material (in chronological order)

Speeches

December 10, 2014 Statement from FDIC Vice Chairman Hoenig on Congressional moves to repeal swaps push-out requirements
November 5, 2014 A Credible Case for Resolving Through Bankruptcy Presented to the George Washington University Law School conference on Financial Stability After Dodd Frank: Have We Ended Too Big to Fail?; Washington, DC
October 21, 2014 Statement on the approval of the Final Risk Retention Rule
June 2, 2014 Commercial Banking: One Industry? delivered at the North Carolina Bankers Association Convention Palm Beach, Florida
May 7, 2014 Can We End Financial Bailouts? presented to the Boston Economic Club Boston, Massachusetts
February 24, 2014 Presentation to the National Association for Business Economics, 30th Annual Economic Policy Conference; Arlington, Virginia
December 13, 2013 Global Banking: A Failure of Structural Integrity
Presented to the Institute of International and European Affairs; Dublin, Ireland
Chart - Consolidation of the Credit Channel
September 2013 Lehman Brothers: Looking Five Years Back and Ten Years Ahead Presented to the National Association of Corporate Directors, Texas TriCities Chapter Conference, Houston, Texas
April 24, 2013 Financial Stability: Incentives Matter Remarks to The Asian Banker Summit; Jakarta, Indonesia
April 9, 2013 Basel III Capital: A Well-Intended Illusion; remarks to IADI Research Conference. Basel, Switzerland
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.
September 14, 2012 Back to Basics: A Better Alternative to Basel Capital Rules; delivered to The American Banker Regulatory Symposium; Washington, D.C.
1991-2011         Archived speeches delivered as President of the Federal Reserve Bank of Kansas City

Testimony

June 26, 2013 Avoiding Taxpayer Funded Bailouts by Returning to Free Enterprise and Pro Growth Bank Regulatory Policies presented to the US House Committee on Financial Services
May 9, 2012 Opening Statement to the Financial Institutions Subcommittee of the US Senate Committee on Banking, Housing, and Urban Affairs
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

Statements, Letters, Op-eds, and Other Material

December 10, 2014 Statement from FDIC Vice Chairman Hoenig on Congressional moves to repeal swaps push-out requirements
September 5, 2014 Global Capital Index - PDF (PDF Help)
Calculation explanation
Archived Versions:
4th Quarter 2013 (Published April 8, 2014)
2nd Quarter 2013 (Published September 13, 2013)
4th Quarter 2012 (Published April 19, 2013)
2nd Quarter 2012 (Published February 14, 2013)
August 13, 2014 TBTF Subsidy for Large Banks--Literature Review (August 2014)
August 5, 2014 Statement by Thomas M. Hoenig, Vice Chairman, FDIC on the Credibility of the 2013 Living Wills Submitted by First Wave Filers
April 8, 2014 Statement by Thomas M. Hoenig, Vice Chairman, Board of Directors, Federal Deposit Insurance Corporation on the Adoption of the Supplementary Leverage Ratio
January 28, 2014 Letter to the Editor, Wall Street Journal - Published February 2, 2014
December 10, 2013 Statement on the Volcker Rule
Statement on the Single Point of Entry Strategy
November 26, 2013 Statement by FDIC Vice Chairman Hoenig on the Proposed Supplemental Leverage Ratio
"The supplemental leverage ratio should be adopted as proposed. The leverage ratio represents a minimum acceptable level of capital against total tangible assets and is the appropriate measure to judge the capital soundness of an institution. The discussion of unconventional monetary policy on excess reserves and its effect on the composition and risks affecting the balance sheet is a separate discussion."
July 23, 2013 Statement on the use of international accounting standards when computing the leverage ratio for systemically important financial institutions
July 9, 2013 Statement on Basel III Capital Interim Final Rule and Notice of Proposed Rulemaking
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 13, 2012 Get Basel III Right and Avoid Basel IV, Financial Times
December 2012 Restructuring the Banking System to Improve Safety and Soundness - (Original: May 2011; Revised: December 2012) PDF (PDF Help)
June 12, 2012 Statement on Basel Capital Notices of Proposed Rulemaking
June 11, 2012 No More Welfare for Banks; Wall Street Journal
Last Updated 12/19/2014
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