2024 Risk Review
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2024 Risk Review

Filetype[PDF-3.43 MB]


  • Corporate Authors:
  • Description:
    The 2024 Risk Review provides an overview of banking conditions in 2023 in five broad categories: market risks, credit risks, operational risks, crypto-asset risks, and climate-related financial risks. The market risks areas discussed are liquidity, deposits and funding, and net interest margins and interest rate risk. The credit risks areas discussed are commercial real estate, residential real estate, consumer, agriculture, small business, corporate debt and leveraged lending, nonbanks, and energy.
  • Content Notes:
    CHART 1: The Economy Continued to Grow Throughout 2023 (Pg 5)

    CHART 2: Labor Markets Remained Tight in 2023 as the Number of Job Openings Per Unemployed Person Was Elevated (Pg 7)

    CHART 3: Inflation Declined in 2023 but Shelter Costs Remained Elevated (Pg 7)

    CHART 4: U.S. Treasury Yields Trended Higher for Most of 2023, but a Drop in March and a Fourth Quarter Bond Rally Offset the Increases (Pg 8)

    CHART 5: The Spread Between Corporate Bond Yields and Benchmark Interest Rates Trended Downward for Much of 2023 (Pg 9)

    CHART 6: Full-Year 2023 Net Income Remained Well Above the Pre-Pandemic Level (Pg 11)

    CHART 7: Unrealized Losses on Investment Securities Remained Elevated at Year-End 2023 (Pg 12)

    CHART 8: Annual Change in Loan Balances Was Driven by Credit Card Portfolios (Pg 13)

    CHART 9: Deposits Declined in 2023 but Increased in the Fourth Quarter (Pg 15)

    CHART 10: In 2023, Money Market Funds Surged While Bank Deposits Declined (Pg 17)

    CHART 11: Total Bank Liquidity Fell due to Declining Unpledged Securities (Pg 18)

    CHART 12: Wholesale Funding Rose in 2023 (Pg 19)

    CHART 13: Community Bank Liquid Assets Decreased With Less Cash Reported (Pg 20)

    CHART 14: Community Banks Wholesale Funding Rose Past Pre-Pandemic Levels (Pg 20)

    CHART 15: In 2023, the Increase in the Cost of Funds Generally Outpaced the Rise in Earning Asset Yields (Pg 21)

    CHART 16: The Net Interest Margin Improved for a Majority of Institutions but the Distribution of Changes Was More Dispersed in 2023 (Pg 22)

    CHART 17: Noncommunity Banks Generally Reported a Greater Increase in Earning Asset Yield in 2023 (Pg 23)

    CHART 18 But Noncommunity Banks Also Reported a Higher Increase in Cost of Funds in 2023 (Pg 23)

    CHART 19: A Majority of Smaller Community Banks Reported Higher Net Interest Margins in 2023 (Pg 25)

    CHART 20: Mortgage Lending Specialists Reported a Significant Increase in the Share of Unprofitable Community Banks in 2023 (Pg 25)

    CHART 21: Office Demand Was Weak in 2023 and Is Not Forecast to Improve in 2024 (Pg 28)

    CHART 22: Office and Mall Prices Remained Weak in 2023 (Pg 29)

    CHART 23: CRE Concentrations Rose Sharply Among Midsize Banks Over the Past Decade (Pg 30)

    CHART 24: Nonfarm Nonresidential Loan Delinquency Rates Rose More Among the Largest Institutions (Pg 31)

    CHART 25: Weakness in the O ice Sector Contributed to an Increase in the CMBS Delinquency Rate (Pg 32)

    CHART 26: Existing Home Sales Sharply Declined Amid Higher Mortgage Rates (Pg 34)

    CHART 27: A Larger Share of Community Banks Continued to Report a Higher Concentration of Total Residential Loans (Pg 35)

    CHART 28: Overall Residential Mortgage Asset Quality Remained Sound in 2023 (Pg 36)

    CHART 29: Real Income Accelerated in 2023, While Real Spending Growth Leveled Off (Pg 37)

    CHART 30: Consumer Debt Burdens Remained Low in 2023 (Pg 38)

    CHART 31: Loan Growth Slowed in 2023 for All Consumer Credit Categories (Pg 39)

    CHART 32: Consumer Loan Quality Worsened in 2023, Led by Credit Card Loans (Pg 40)

    CHART 33: Loan Quality at the Median Community Bank Remained Better Before the Pandemic (Pg 40)

    MAP 1: Farm Banks Are Concentrated in the Corn Belt and Plains States Where Row Crops and Livestock Are Dominant (Pg 41)

    CHART 34: Farm Profits Declined in 2023 but Remained Above the Long-Term Average (Pg 42)

    CHART 35: Farm Bank Delinquency Rates on Agricultural Loans Remained Low in 2023 (Pg 43)

    CHART 36: Concentrations in Farm Loan Portfolios Increased in 2023 (Pg 44)

    MAP 2: Farmland Values Continued to Rise Throughout 2023, Particularly in States with a High Concentration of Farm Banks (Pg 45)

    CHART 37: Lending Standards to Businesses Continued to Tighten in 2023 (Pg 47)

    CHART 38: The Community Bank Commercial and Industrial Loan Past-Due and Nonaccrual Rate Is Lower Than the Noncommunity Bank Rate (Pg 48)

    CHART 39: High-Yield Corporate Bond Issuance Rose in 2023 From the Decade Low in 2022, While Leveraged Loan Issuance Moderated (Pg 49)

    CHART 40: Corporate Debt Relative to GDP and Corporate Profits Moderated Further in 2023 Compared to the Spike Seen in 2020 and 2021 (Pg 50)

    CHART 41: Two Signals of Weakness in Leveraged Loans Are Near Normal Levels (Pg 51)

    CHART 42: Leveraged Loan Borrowers Extended Maturities Into the Late 2020s, Reducing Near-Term Refinancing Risks (Pg 52)

    CHART 43: Growth in Nonbank Financial Institution Lending Outpaced Other Major Loan Categories in 2023 (Pg 53)

    CHART 44: GSIBs Have the Highest Concentration of Loans to Nonbank Financial Institutions (Pg 54)

    CHART 45: Oil Prices in 2023 Were Roiled by Economic Conditions and Geopolitical Events (Pg 57)

    CHART 46: Despite Extreme Oil Price Volatility, Community Bank Past-Due Loans Have Remained Low and Stable in Energy-Producing States (Pg 58)

    CHART 47: The Number of Billion-Dollar Disaster Events Reported in 2023 Reached an All-Time High (Pg 63)

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  • Agencies Involved:
    Federal Deposit Insurance Corporation (FDIC);Board of Governors of the Federal Reserve System (The Fed);U.S. Department of the Treasury;U.S. Department of Agriculture;(USDA);Financial Crimes Enforcement Network (FinCEN);Office of the Comptroller of the Currency (OCC);
  • Bank Involved:
    Signature Bank of New York (SBNY);Silicon Valley Bank (SVB);
  • Source:
    FDIC Website
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