Saturday, March 11, 2023

"Bank Run USA Panic – Second USA Bank Collapses in 3 Days, Run of Withdrawals Causes Liquidity Crisis"

"Bank Run USA Panic – Second USA Bank Collapses
 in 3 Days, Run of Withdrawals Causes Liquidity Crisis"
By IWB

(Reuters) – "U.S. lenders First Republic Bank (FRC.N) and Western Alliance (WAL.N) said on Friday their liquidity and deposits remained strong, aiming to calm investors worried of a spill-over of risks from troubled startup focused-bank SVB Financial Group (SIVB.O). Shares of the three banks slumped between 20% and 60% in choppy trading that led to halts and resumptions. The disclosures come after banking regulators shut California-based SVB after a failed share sale that triggered worries of a liquidity crisis, hammered bank stocks and rippled through global markets.
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