Former Fed Economist Available to Comment on Fed’s Announcement about Weaknesses of U.S. Banks
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FAYETTEVILLE, Ark. – Tim Yeager, finance professor at the University of Arkansas and former economist at the Federal Reserve Bank of St. Louis, is available to comment on the Federal Reserve’s announcement Monday that the 18 largest U.S. banks have failed to satisfy at least one of the five areas critical to risk management and capital planning.
The Fed’s study demonstrated that these banks still lack comprehensive systems and policies to model, test, report and plan for economic calamities. The announcement comes five years after one of the most costly financial crises in U.S. history.
In 2007, in response to federal banking regulators’ concern about community banks’ increased participation in commercial real-estate lending, Yeager developed a system that allows banks to perform stress tests on their commercial real-estate portfolios.
Yeager served as an economist and assistant vice president at the Federal Reserve Bank of St. Louis from 1998-2005. His academic research has focused on government-sponsored enterprises such as Fannie Mae and Freddie Mac. He has investigated the trend toward universal banking and conducted the first empirical study of the effect of the Gramm-Leach-Bliley Act, which removed barriers separating commercial banking from investment banking, merchant banking and insurance underwriting.
Throughout the financial crisis and recession, Yeager has been interviewed extensively and used as a source by many publications, including Wall Street Journal, Los Angeles Times, Forbes and USAToday.
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