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ARTICLE · 15 NOVEMBER 2021

FRB Reports On Stability Of Financial System

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In its November 2021 Financial Stability Report, the Federal Reserve Board ("FRB") assessed economic vulnerabilities and identified a number of potential "near-term shocks" to the stability of the financial system.

United StatesFinance and Banking
Hogan Lovells Cadwalader
Hogan Lovells Cadwalader
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In its November 2021 Financial Stability Report, the Federal Reserve Board ("FRB") assessed economic vulnerabilities and identified a number of potential "near-term shocks" to the stability of the financial system.

According to the report:

  • equity price valuations are high when compared to historical norms,
  • long-term Treasury security yields, corporate bonds and leveraged loans are at historically low interest rates,
  • mortgage rates remain low and home valuations remain high,
  • aggregate commercial real estate valuations continue to increase,
  • life insurers' liquidity risks have been increasing, and
  • fiscal policies continue to provide economic support as progress is made on the pandemic.

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