Context: The FTX collapse in November 2022 appears to be the start of this current banking crisis. FTX collapse apparently damaged Silvergate Capital. Silvergate Capital failure on 3-8-23 damaged SVB on 3-9-23, resulting in its failure on 3-10-23. Silvergate Capital ripple possibly cause of Signature Bank (NY) failure on 3-12-23. Ripples sent to 6 more banks on 3-13-23 resulting in the Moody's watch alert. Connection between SVB or Silvergate and Signature has not yet been explicitly identified. Signature Bank was being sued over FTX.
Real Time Trade Halts to see publicly traded banks having liquidity issues per investor reactions and volatility: https://www.nasdaqtrader.com/trader.aspx?id=tradehalts#
UPDATED 3-15-23
--Big Foreign Banks about to go BUST--
Credit Suisse - Credit Default Swaps approaching "DISTRESSED" https://finance.yahoo.com/video/credit-suisse-credit-default-swap-181841513.html
--Failed/Taken over by FDIC--
Silvergate Capital - failed 3-8-23
Silicon Valley Bank - failed 3-10-23; purchased by HSBC 3-13-23
Signature Bank - failed 3-12-23; buyer not revealed yet
--Downgraded to JUNK--
First Republic Bank (FRC) - 3-15 Fitch & S&P downgrade https://www.marketwatch.com/story/first-republic-bank-downgraded-to-junk-status-by-s-p-global-ratings-in-four-notch-move-b1d442d4
--Moody's Five Remaining Potential Downgrades from 3-14-23--
Western Alliance Bancorporation (WAL)
Comerica Bank (CM)
UMB Financial (UMBF)
Zions Babncorporation (ZION) - parent of Nevada State Bank
Intrust Financial (Private)
--Others showing liquidity issues--
PacWest Bancorp (PACW)
Customers Bancorp, Inc (CUBI)
East West Bancorp (EWBC)
First Horizon Corporation, Tennessee (FHN)
Metropolitan Bank Holding Corp (MCB)
Regions Financial Corporation (RF)
--Banks seeing liquidity ripple--
Bank of Hawaii (BOH)
KeyCorp (KEY)
United Community Bank (UCBIO)
The Charles Schwab Corporation (SCHW)
Huntington Banc (HBANL)
Magyar Bancorp Inc (MGYR)
Macatawa Bank Corporation (MCBC)
--U.S. Big Six Banks (likely consolidators and possibly owners of Federal Reserve)--
Wells-Fargo Bank - Wachovia Securities is now WF Securities
JP Morgan Chase -
Bank of America - Merrill Lynch is division now
Citigroup
U.S. Bank
Goldman Sachs
--Foreign Players--
HSBC - purchased SVB carcass on 3-13-23
Mitsubishi UFJ Financial Group (MUFG) - strategic partner of Morgan Stanley
Agreed, but they cannot fire all of them, just in case ...Certainly the slackers will be weeded out. Productivity data and all.
“ Certainly the slackers will be weeded out”. Hahahaha, maybe in small town building departments! When this happened when I was with the City of Pittsburgh, all employees were AFSCME, and keeping slackers was their raison d’etre!