Fed rate cuts come too late to avert a fresh wave of US regional bank failures

https://archive.is/0p7wA#selection-2393.4-2393.73
by Ambrose Evans-Pritchard

“Temporary measures have calmed the market but half of all US banks are running short of deposits with assets worth less than their liabilities, and we are talking about $9 trillion,” he said. “They are bleeding capital and could not survive if something triggers a sudden loss of confidence. It is a very fragile situation and the Federal Reserve is watching it closely”.

Catching up: BTFP usage explodes and program end date announced, credit card debt jumps 17.7% in November, $28 million to whistleblowers…

h/t mark000