Banks engage in maturity transformation and the term premium compensates them for bearing the associated duration risk. They are consequently vulnerable to interest rate risk, which is the impact of adverse interest rate changes on a bank's financial state and is one of the most significant risks that banks face as financial intermediaries. The role of maturity gaps and short-term market interest rates on interest rate risk exposure in Kenyan commercial banks was explored in this study. The study's specific objectives were to assess the role of maturity gaps in interest rate risk exposure in...