来源：淼淼de茶话室 #海外新鲜事##美国经济数据# 这张图表来自美国联邦存款保险公司（FDIC），标题为 "Unrealized Gains (Losses) on Investment Securities"（投资证券的未实现盈亏），显示了2006年至2025年间，美国银 行体系投资证券账面价值与市场价值之间的差额变化情况。 从图表中看，美国银行体系自2022年起因美联储快速加息导致债券价值暴跌，银行持有的"可供出 售"和"持有至到期"证券出现了创纪录的未实现亏损，总额一度接近8000亿美元，远高于以往任何时 期。 为海外华人提供有价值的信息与分析，更多内容见蓝天、电报、x，可搜索causmoney ...

Core Viewpoint - The U.S. banking industry is under significant stress due to high interest rates, with potential risks of a new banking crisis similar to the one experienced in March 2023, particularly if economic conditions worsen due to inflation and other factors [1][9][10]. Group 1: Current Banking Situation - As of the end of 2024, the total unrealized losses in U.S. bank securities investments reached $482.4 billion, an increase of $118 billion or 32.5% from the previous quarter [1]. - The peak of unrealized losses was $684 billion at the end of 2023, indicating a troubling trend for the banking sector [1]. - Experts warn that if interest rates remain high, the accumulated losses during the crisis will not dissipate, leading to further vulnerabilities in the banking system [10]. Group 2: Expert Opinions - Financial experts emphasize that unless assets are sold, unrealized losses do not appear on banks' profit and loss statements, but they pose a liquidity threat if depositor confidence wanes [2][6]. - The volatility of long-term interest rates, particularly the 10-year Treasury yield, is closely linked to bank losses, with current rates hovering above 4.5% [5][6]. - The potential for a new banking crisis remains, as any negative news about a bank could trigger a repeat of the March 2023 crisis [2][8]. Group 3: Risks and Concerns - The banking sector's exposure to long-term securities, which are classified as "held to maturity," means that their market value fluctuations do not directly impact financial statements unless sold [6][7]. - If banks are forced to sell investments, they must mark their entire portfolio to market value, which could lead to significant liquidity issues [6][10]. - Regional and super-regional banks, particularly those with asset sizes between $10 billion and $200 billion, are highlighted as particularly vulnerable due to their large uninsured deposits exceeding the FDIC insurance limit [10].