U.S. Banks · Unrealized Gains (Losses) on Held-to-Maturity Securities

## What this measures

The gap between the fair value and the amortized cost of the held-to-maturity (HTM) securities held by every FDIC-insured bank and savings institution, in billions of dollars, at the end of each quarter. A negative number is an unrealized loss.

## Why it matters

HTM securities are carried at cost, so these losses do not show up in reported capital. They are the hidden part of the hole rising rates dug in bank balance sheets: harmless if the bank holds to maturity, real if a run forces it to sell.

## How to read it

Read it beside the available-for-sale losses: together they make the industry's total unrealized loss on securities. Banks moved securities into HTM in 2021–2022, so this side grew while AFS shrank.

## What it does not say

It covers securities only, not loans. It is an industry total dominated by a few large banks, and it does not say which banks could be forced to sell.

## Source

Federal Deposit Insurance Corporation, BankFind Suite financial data (Call Reports): the sum over all institutions of SCHF (HTM fair value) minus SCHA (HTM amortized cost). Public domain. From 2012 Q1, when savings institutions moved onto the Call Report. Palanor re-reads every quarter weekly, because banks amend recent reports.