Looks like the bank panic is back ON today, with news that Credit Suisse is looking shaky. Yesterday bank stocks enjoyed a nice rebound from Monday’s swoon as everyone calmed down about the possibility of a contagion, but then there was this:
US Banks Have Over $620 Billion in Unrealized Losses According to FDIC
According to FDIC Chairman Martin Gruenberg, US banks have over $620 billion in unrealized losses. Moreover, regarding the reality that the downfall of SVB was not directly an isolated incident in what could become an issue for several banks within the country
Here’s what the chart looks like:
P.S. Here’s what pricing of Credit Suisse credit default swaps look like today:
