WASHINGTON -- The thrift industry's market value has declined by roughly 11% as a result of this year's interest rate increases, federal regulators are estimating.

Nevertheless, regulators say the industry's strong capital levels have helped it weather the interest rate storms. The industry's underlying strength provides a marked contrast to the situation of the late 1970s and early 1980s, when volatile rates wreaked havoc on thrifts. Officials note that the 11% decline is an unrealized drop in value.

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