Despite record-low interest rates in the US, several regulators including the Federal Reserve issued a warning to the nation’s commercial banks not to be caught off guard should rates increase in the future at a faster rate then seen in the past.
“In the current environment of historically low short-term interest rates, it is important for institutions to have robust processes for measuring and, where necessary, mitigating their exposure to potential increases in interest rates,†the Federal Financial Institutions Examination Council, made up of agencies including the Fed and the Federal Deposit Insurance Corp., said in a statement today.
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