federal reserve bank of minneapolis president neel kashkari reportedly said the banking system is resilient with a strong capital position a lot of liquidity and the full support of regulators but indicated it’s unclear how much of an impact the stresses are going to have on the economy kashkari told cbs news in an interview there are other banks that have some exposure to longdated treasury bonds with some duration risk on their books we also know that commercial real estate there are a lot of commercial real estate assets in the banking sector and there are some losses that will probably work their way through the banking sector so that process will take time to fully become clear but fundamentally the banking system has a lot of capital to be able to withstand those pressures he said although markets witnessed volatility last week in the wake of the ongoing banking crisis major indices closed in the green for the week the spdr sp 500 etf trust spy closed 066 higher last week and the invesco qqq trust series 1 qqq gained 037 economy the minneapolis fed president also said its unclear how much of the banking stresses are leading to a widespread credit crunch and added that the central bank is monitoring it very closely now on one hand such strains could then bring down inflation so we have to do less work with the federal funds rate to bring the economy into balance he stated kashkari also asserted the biggest banks in the world are still too big to fail and said the reason behind deposits flowing to large banks and credit suisse group ag cs getting bailed out by the swiss government is that banks have a premium position it’s an unfair playing field that puts enormous pressure on regional banks and community banks and that needs to be addressed we need regional banks in america we need community banks in america he said read next imf chief believes risks to financial stability have risen calls for continued vigilance