Vidostream | News, sport and opinion from the Vidostream's US edition

https://vidostream.com

How the latest bank failures size up against the nation’s biggest banks

Recent bank failures have paled in comparison to today’s closures. 
Shares of M&T Bank are down about 13% so far this year. The majority of those losses occurred in March. Bing Guan/Bloomberg

Shares of M&T Bank are down about 13% so far this year. The majority of those losses occurred in March. Bing Guan/Bloomberg

The recent failure of Silicon Valley Bank and the shutdown of Signature Bank of New York has sparked fears of a wider financial meltdown. Both are ranked among the top 30 U.S. banks by assets, but they are far smaller than the country’s biggest financial institutions, which measure their assets in the trillions.

The two banks catered to the tech industry, which has retreated from the enormous growth of the early pandemic era and is now beset with layoffs. Silicon Valley Bank was crucial to venture capital firms. Signature served as a key financial institution for the cryptocurrency industry.

Read more (...)

Author: Editors Desk

Source: The Washington Post

We are using cookies to give you the best experience on our website. By continuing to browse, you are agreeing to our Cookie Policy.
You did not use the site, Click here to remain logged. Timeout: 60 second