186 US Banks May Be Facing a Similar Outcome as Silicon Valley, Say Economists
A study has revealed that 186 US banks, mainly regional lenders, could face bankruptcy if half of their depositors withdraw their money. The report comes as the collapse of Silicon Valley Bank sent shockwaves through US financial institutions. Analysis highlights how Old National Bancorp, the third-largest bank in Indiana, has about 79% of its investment portfolio in higher-yielding, more risky securities. In Europe, the Swiss central bank has pledged billions of dollars to support Credit Suisse, as competitor banks consider buyout possibilities. Pierre Wunsch, Governor of the National Bank of Belgium, said Belgian banks are among the strongest in Europe and that there is no information that European banks are at risk of breaching their capital requirements at present.
About The Author
