What matters, though, is how institutions deal with, and weather, the short-term burdens. What matters as well is an appreciation that interest rates are just one part of the big picture. And the big picture is fairly bleak right now. The risks have most certainly risen: inflation, energy shortages, a looming recession.
That said, as things stand today, I am not expecting us to see a credit crunch or even a general banking crisis next year. In summary, then: whilst it is true that banks are no longer "stranded" as far as interest rates are concerned, the high tide will be accompanied by stormy weather and rougher seas.