The US financial system is unstable, further development of the situation depends on the actions of the authorities, according to summaries from the war theater published in the Essence of Time newspaper.
After the bankruptcy of a major bank Silicon Valley Bank, experts checked the market and found 186 banks that could be in a similar situation.
Economists calculated the banks’ losses due to the Fed’s rate hike and looked at the percentage of banks’ deposits that were uninsured. They noted that 186 banks would face a shortage of assets if their uninsured deposits were withdrawn.
“It’s too early to bury the US financial system. But the system is in an extremely unstable state, so everything depends on the competent actions of the authorities,” the Essence of Time editorial reads.
Source: Rossa Primavera News Agency