Thousands of bankers jobs are now being cut signaling we maybe in big trouble economically! This has more of an impact than many of us realize.
Moody’s downgrades ratings of TEN U.S. banks as economy falters
https://www.brighteon.com/b3094ec3-bb38-4445-bdc7-b9857a3e6602
Ten small and midsize banks in the United States have had their credit ratings lowered by Moody’s, this likely due to higher funding costs, potential regulatory capital weaknesses, and increasing risks tied to commercial real estate loans due to plummeting demand for office space.
According to Moody’s, this trifecta of issues means that M&T Bank Corp., Webster Financial Corp., BOK Financial Corp., Old National Bancorp, Pinnacle Financial Partners Inc., and Fulton Financial Corp. all saw a downgrade, while Northern Trust Co. and Cullen / Frost Bankers Inc. are also under review for possible downgrades.
Moody’s also issued a “negative” outlook for 11 different lenders, including PNC Financial Services Group, Capital One Financial Corp., Citizens Financial Group Inc., Fifth Third Bancorp, Regions Financial Corp., Ally Financial Inc., Bank OZK and Huntington Bancshares Inc.
Even though the Biden regime and Wall Street are both trying to plug the holes on their sinking ship by telling the nation that everything is just fine, Moody’s is telling a much different story.
Banks with substantial unrealized losses that have not been captured by their regulatory capital ratios are still susceptible to sudden losses of market or consumer confidence amid a high interest rate environment.
https://www.naturalnews.com/2023-08-14-moodys-cuts-credit-ratings-banks-stocks-plummet.html
h/t TerraForms
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