Loading ...$517,000,000,000 in unrealized losses hits US Banking System as FDIC Warns 63 Lenders on Brink of Insolvency…
The Federal Deposit Insurance Corporation (FDIC) has revealed a troubling trend: unrealized losses in the US banking system are climbing once again. In its latest Quarterly Banking Profile report, the FDIC notes that banks now face over half a trillion dollars in paper losses on their balance sheets, primarily due to their exposure to the…
“Unrealized losses on available-for-sale and held-to-maturity securities soared by $39 billion to $517 billion in the first quarter. The surge was driven by higher unrealized losses on residential mortgage-backed securities, a result of rising mortgage rates in the first quarter. This marks the ninth consecutive quarter of unusually high unrealized losses since the Federal Reserve started hiking interest rates in the first quarter of 2022,” the FDIC reported.
Raising interest rates at the fastest pace ever was a direct attack on regional banks. The pricks in charge want a small number of huge banks. Fighting inflation is a cheap excuse. The pricks couldn’t give a damn about inflation except for the fact that it hurts them politically.