And the saga continues
Into the third wave of the banking crisis
Issues contributed:
What is wrong with First Republic Bank?
What is the outlook for U.S. commercial real estate?
The U.S. banking sector is facing the possibility of devastating loan losses.
Trading on shares of First Republic Bank were halted on Wednesday as they fell by 18%. On Thursday, the New York Stock Exchange, NYSE, halted trading again at 10:07:10 AM due to volatility. Today, there’s speculation on government takeover of the bank. What is wrong with First Republic?
In this subscriber-only entry, I go through the main issues concerning First Republic Bank and continue to map the dire straits of U.S. regional banking sector. We will publish next instalment of the U.S. banks to avoid series (maybe turning it into banks that appear most solvent) in GnS Economics Newsletter next week.