10 bank news at risk of bankruptcy
The successive bankruptcies of Silicon Valley Bank (SVB) and Signature Bank (SB) have raised concerns about a “domino effect” in global markets.
According to the news of Emre Ergül from DÜNYA Newspaper; Everyone is looking for an answer to the same question: “Will the current return to the 2008 global banking crisis?” While the economic staff of the White House held a meeting after the meeting; The Federal Reserve (Fed) has announced that SVB’s customers will be paid… But… The problem is: 85 percent of the deposits in the SVB were uninsured. Moreover, SVB is not the only bank in the “uninsured deposit”.
Speaking to the DÜNYA Newspaper, international financial experts draw attention to the 2022 year-end report of the Federal Deposit Insurance Corporation (FDIC).
“The higher the uninsured deposits, the worse the situation,” said the experts, pointing out Signature Bank, where a trustee was appointed. Declaring themselves “strong” by the end of 2022, the shares of SB dropped 12 percent last Thursday and 24 percent on Friday.
Yesterday morning, the news of the trustee came. According to reports, the uninsured deposit rate of the SB is 89.7 percent! In this situation, there are 10 more banks that are at risk. “The numbers are bad, but it still doesn’t mean that banks are in danger, going bankrupt or incurring big losses,” the experts said cautiously.
Here are 10 banks at risk of bankruptcy
– Customers (Pennsylvania)
– First Republic (California)
– Sandy Spring (Maryland)
– New York Community Bank
– First Foundation
– Ally Financial (Delaware)
– Dime Community (New York)
– Pacific Premier (California)
– Prosperity (Texas)
– Columbia (Washington)
What does SVB’s bankruptcy mean for investors?
Impact of SVB bankruptcy on Eurozone
Fed expectations turn upside down after SVB crisis