That is a very big number, and it is 100% due to the banking sector being too cheap and or foolish to engage in interest-rate risk management. The bankers should all be replaced and the Boards of directors fired.
All profit taking by stock selling and shorting of bankers and directors should be disgorged and delivered to taxpayers who have to pay for this insanity.
So much for Brandon’s moronic interest raising policies which tanked the banks.
How should they have managed the risk?