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Thomas M. Hoenig - 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


April 15, 2015 A Conversation about Regulatory Relief and the Community Bank: presented to the 24th Annual Hyman P. Minsky Conference; National Press Club, Washington, DC
March 2, 2015 Financial Supervision: Basic Principles presented to the Institute of International Bankers Annual Washington Conference; Washington, DC
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
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 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
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.
  Archived speeches delivered as President of the Federal Reserve Bank of Kansas City


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 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

June 17, 2015 Letter to the Editor, Wall Street Journal - Published June 15, 2015
December 10, 2014 Statement from FDIC Vice Chairman Hoenig on Congressional moves to repeal swaps push-out requirements
August 13, 2014 TBTF Subsidy for Large Banks--Literature Review (August 2014)
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 2013 "Restructuring the Banking System to Improve Safety and Soundness," a white paper by Thomas M. Hoenig and Charles S. Morris (Original: May 2011; revised November 2013)
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)
June 11, 2012 No More Welfare for Banks; Wall Street Journal



Last Updated 6/17/2015

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