Bob Michele (JP Morgan's CIO) on Bloomberg this morning talking about the Fed's emergency BTFP interventions & the liquidity crisis in banks.
He also specifically mentioned Truist Bank 😬
Truist Bank has over $500 billion in assets & could be on the verge of failure along with Charles Schwab
(twitter.com)
💥 BANK COLLAPSE 💥
You're viewing a single comment thread. View all comments, or full comment thread.
Comments (94)
sorted by:
Truist bank is a recent merger between BB&T and Suntrust. A failure of that size with Charles Schwabb and HSBC would be worse than 2008.
That's only going to be the first of many. Truist is still small fry compared to what we're facing.
@FinanceLancelot Current unrealized losses in the US banking system is -$1.8 trillion out of only $2.2 trillion capital
With corporate taxes due Sep 15 & possible gov shutdown Oct 2, the general public has no idea the banks are already insolvent entering a nightmare liquidity scenario in October
https://twitter.com/FinanceLancelot/status/1696657731539869970