Federal Reserve Bank of Minneapolis President: "Unlike the rest of us, banks have the ability to essentially vaccinate themselves against this crisis. They should do so now."

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Federal Reserve Bank of Minneapolis President: "Unlike the rest of us, banks have the ability to essentially vaccinate themselves against this crisis. They should do so now."

May 4, 2020, 01:43 AM

President Kashkari’s Financial Times op-ed: Big U.S. banks should raise $200 billion in capital now | Federal Reserve Bank of Minneapolis

https://www.minneapolisfed.org/article/2020/president-kashkari-financial-times-op-ed-big-us-banks-should-raise-200-billion-in-capital-now

Public Policy;National Economy;Public health

The writer, president and chief executive of the Federal Reserve Bank of Minneapolis, oversaw the Troubled Asset Relief Program in 2008-09
Article Highlights
Banks should “vaccinate” themselves against the economic crisis now

An extended economic downturn could easily sap banks’ current equity capital

Banks must do their part by discontinuing dividends and raising capital now

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Ask Congress to Investigate COVID Origins and Government Response to Pandemic.

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Federal Reserve Bank of Minneapolis President: "Unlike the rest of us, banks have the ability to essentially vaccinate themselves against this crisis. They should do so now."

Federal Reserve Bank of Minneapolis President: "Unlike the rest of us, banks have the ability to essentially vaccinate themselves against this crisis. They should do so now."