See B of A.
Wow. Last night David Morgan (The Morgan Report) said that many big banks, especially B of A, Wells Fargo, etc. are very shaky, and have been inappropriately draining Federal Home Loan funding for months.
The former CFO of Lehman Bros was in a top position at SVB. How many more of that bunch have slithered into similar posts? And how many on this list have been recalibrated for "climate focus" like SVB and Signature?
Reports, China is pulling cash from Swiss banks.
Silicon Valley Bank had about $209 billion in assets.
Credit Suisse has about $578 billion in assets.
It appears the money is all consolidating in the big banks that did such a poor job. This is because they are going to insure/cover 100% of your large account if it is in a "to big to fail" bank, but not if it is in a community bank. It's pretty clear what will happen.