Interest rate risk management in Asset Liability Management / ALM – is it worth the effort? Does the interest rate risk have a significant effect on the bank‘s earnings? The supervisor says YES – intensifies the regulations and warns against rising interest rates. We also say YES – because every risk has also a potential to improve profits. In this article, we try to quantify the earnings potential of a (conservative) interest rate risk management and we describe the prerequisites and resources for raising the potentials.