It’s ending at a time of higher interest rates, with the FED between a rock and a hard place (can’t really raise ‘em, can’t really lower ‘em), and tremendous amount of bank assets under water due to the rapid interest rate rise. If a bank has to liquidate assets to cover depositors, they will take huge losses.
“U.S. bank profits drop 44% in Q4 as big firms cover failed bank costs “, story 3 days ago.
Powell last week said to expect more bank failures.
NYCB got a $1B bailout last week.
I'm hoping my bank is 'too big to fail'...