Beth Mooney on interest rate sensitivity
From Beth Mooney on CNBC Mad Money 10/13/13 · · Decades of Creativity
“We are actually more tied to the short end of the curve. You know, 70% of our loan book and our balance sheet is tied to one either overnight or 30-day rates. So we actually would look for the short end of the curve to go up for us to make more money. But the long end of the curve going up would mean that the Federal Reserve is more comfortable with this economy, they're willing to start tapering, and I think that would be a good thing for the markets and the economy.”
On , Beth Mooney, Former Chairman & Chief Executive Officer at KeyCorp, spoke about interest rate sensitivity during Beth Mooney on CNBC Mad Money 10/13/13 on Decades of Creativity.
About Beth Mooney
Beth Mooney, former Chairman and CEO of KeyCorp, was recognized with the Cleveland Foundation Women of Note Legacy Award in July 2017. In a tribute video for the award, Mooney described her early career, noting that after graduating from college in the mid-1970s she was frequently asked how fast she could type, which led to her first job as a bank secretary. She said that from that position she believed she could do more and made a series of moves between departments, eventually deciding in her late 30s that she wanted to become a CEO. Mooney stated that achieving that goal looked easier than it was and that she experienced a "dog caught the car" moment upon becoming CEO, accompanied by humility about the work required. In an October 2009 speech and Q&A as Vice Chair of KeyCorp, Mooney discussed the financial crisis and the Troubled Asset Relief Program (TARP). She said TARP "did what it was intended to do" in stabilizing the banking system and objected to the term "bailout," arguing that most TARP funds would be repaid with interest. Mooney described the Federal Reserve as "the unsung hero" for creating liquidity in frozen markets. She noted that bankers were "painted with a broad brush" and said the industry needed to rebuild trust by serving clients and communities. Mooney also called for re-regulation that would capture non-bank financial players, advocated for a systemic regulator, and stated that 25 percent of mortgage brokers in Ohio in 2006 had felony records. She expressed hope that healthcare reform would "get it mostly right" and that Cleveland institutions would have a voice in Washington.