Good analysis. Everyone should be very worried about these charts. In short, a lot of banks are sitting on assets that have significant unrealized losses, which

Good analysis. Everyone should be very worried about these charts. In short, a lot of banks are sitting on assets that have significant unrealized losses, which is very similar to the situation leading up to 2008. If there is some event down the road that forces the banks to dip into their HTM assets to cover withdrawals or losses, then we could be looking at yet another systemic crisis. The cause will be different. But the banks are in a precarious position. Perhaps more importantly, this puts a ceiling on what the Fed can do to fight inflation. If they keep jacking rates the magnitude of the unrealized losses will increase.