Unrealized Losses Hammer US Banks as Fed Reveals Surge in Underwater Assets

$684,000,000,000 in Unrealized Losses Hammer US Banks As Fed Reveals Surge in Underwater Assets US banks are now saddled with a staggering $684 billion in losses on securities, according to a new report from the Federal Deposit Insurance Corporation (FDIC). The agency says the total number of unrealized securities in the banking system at the end of Q3 surged by $126 billion – a 22.5% increase in the span of a few months. Unrealized losses represent the difference between the price banks paid for bonds and the current value of those securities on the open market. Although banks can simply hold their bonds until…