Four major U.S. banks—Bank of America, Citibank, Goldman Sachs, and JPMorgan Chase—are under scrutiny by the FDIC and Federal Reserve for serious flaws in their “living wills,” plans meant to prevent a financial meltdown. These banks must fix these issues by July 1, 2025, raising fears of a potential financial crisis similar to 2008.
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4 Major U.S. Banks Face Scrutiny
In an alarming development, the U.S. Federal Deposit Insurance Corp. (FDIC) and the Federal Reserve Board have flagged serious "shortcomings" in the "living wills" of four of the eight largest U.S. banks,…
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#recession … #GFC2 US #Banks edition #Banking $BKX $XLF $KRE 📉 👀 https://t.co/NxbYH0Q6Xz
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"Firms are not liquidating … Debt is being written down and exchanged for equity, and that is keeping firms alive … Because there’s a lot of dry powder sitting on the sidelines— at least $1 trillion in private equity and another $400 billion in private credit."
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